China to set up firm for managing forex reserves

BEIJING: China plans a special firm to manage one fifth of its forex reserves, laying the foundations of a behemoth that will handle more money than the biggest mutual fund in the world, state media said on Friday. The State Foreign Exchange Investment Company is expected to be in charge of $210 billion, or more than the Growth Fund of Americas approximately $160 billion of assets, according to the reports. The State Council proposed at the national finance work conference (last month) to set up a special forex investment institution, an official with Central Huijin Investment Co, a government investment arm, told AFP. The State Foreign Exchange Investment Company will get its $210 billion as part of a plan to divide Chinas $1.07 trillion of reserves into three portions, the Southern Weekly paper said, giving no sources.

Three Reasons Why Forex Trading is So Popular

There is a new type of short term trader whose ranks are growing by leaps and bounds. Forex trading is fast becoming many short term traders' preferred investment choice.
Port St. Lucie, FL (PRWeb) January 24, 2007 -- There is a new type of short term trader whose ranks are growing by leaps and bounds. Forex trading is fast becoming many short term traders' preferred investment choice. Here are three reasons why forex trading is so popular: First, it may be necessary to explain what forex trading is. Forex trading, also called currency trading, FX trading, Foreign Exchange trading and forex currency trading refers to the largest financial investment market in the world. Forex trading is fully electronic and has an average daily capital turnover amount in the area of $1.5 trillion.