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China forex regulator to relax exchange rules for commodities futures market

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07/28/2019 | 05:42am EDT

BEIJING (Reuters) - 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.

(Reporting by Cate Cadell; Editing by Sam Holmes)

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