China takes steps to slow down rapid increase in foreign exchange reserves – Xinhua

From Xinhuanet (link)

China has noticed the negative impacts brought by the huge foreign exchange reserves and is taking steps to relieve the pressure, said spokesman of the National Bureau of Statistics on Thursday.

Exports of products that consume much energy and produce heavy pollution will be restricted in China, while more manufacturing equipments and high-tech products will be imported in the future, said spokesman Zheng Jingping for the National Bureau of Statistics at a press conference.

Zheng said these measures will be taken to seek a balance in China’s foreign trade. China’s continued trade surplus is regarded one reason for the surging foreign exchange reserves.

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