Chinese exchange regulator eases exchange rate rules for commodities futures

BEIJING (Reuters) – Chinese foreign exchange regulator Sunday announced a relaxation of foreign exchange approval rules for commodities futures.

China will also strengthen the allocation of medium and long-term badets in the management of foreign exchange reserves, announced the State Exchange Administration in a report posted on its website.

He added that it would promote the diversification of foreign exchange reserves in a regular and prudent manner and would guarantee security and liquidity while increasing the value of foreign exchange reserves.