Asked about gold, China says improving FX allocation

Published: 05 Nov 2009 19:37:18 PST

BEIJING, Nov 6 - China reaffirmed on Friday that it is working to improve the allocation of assets in its foreign exchange reserves, when asked whether it would buy any of the gold that the International Monetary Fund is seeking to sell.

The State Administration of Foreign Exchange, which manages China's more than $2 trillion of currency reserves, told Reuters that it gives consideration to long-term risk and returns in deciding how to invest its holdings.

It did not comment directly on whether it would consider buying any of the IMF gold.