From BBC News:
China has signalled that it could use its vast foreign exchange reserves to bolster its strategic energy resources.
Vice-Premier Zeng Peiyan said China needed to speed up the hunt for fresh oil and natural gas supplies. China’s foreign exchange reserves are the world’s largest at more than $1 trillion, supported by the country’s strong global exports.
China is keen to secure future reserves of oil, coal and other raw materials needed to fuel its booming economy.[Full Text]