China FX regulator to relax exchange rules for commodities futures market

BEIJING: China’s foreign exchange regulator said on Sunday it will relax currency exchange approval rules for the commodities futures market.

China will also strengthen medium and long-term asset allocation in foreign exchange reserve management, the State Administration of Foreign Exchange in a report released on its website.

It added it will push forward diversification of foreign exchange reserves in a steady, prudent way and ensure safety and liquidity while increasing the value of foreign exchange reserves.