China names new FX chief

Hu takes on responsibility for managing the country’s vast foreign exchange reserves, which stood at $610 billion at the end of 2004. She will also continue to work on maintaining a stable and an increasingly convertible renminbi and a more sophisticated foreign exchange market, said reports.

Hu worked with Safe between 1985 and 2004 having been employed in the departments of policy and research, policy and regulations, and reserve management. In August last year, she became an assistant

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