(Reuters) - Economists expect the new agency to buy foreign exchange directly from the People's Bank of China, which controls China's $1.2 trillion in currency reserves.
Xinhua did not say whether the special treasury bonds, which would be issued by the Ministry of Finance, would be sold directly to the central bank or sold in the domestic market, with the cash raised then used to buy foreign exchange from the PBOC.
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Xinhua did not say whether the special treasury bonds, which would be issued by the Ministry of Finance, would be sold directly to the central bank or sold in the domestic market, with the cash raised then used to buy foreign exchange from the PBOC.
Read more at Reuters.com Hot Stocks News
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