No big changes in China forex management

China made no major adjustment to its foreign exchange reserves management. That's according to a senior official at the country's foreign exchange regulator. Wang Xiaoyi, deputy head of the State Administration of Foreign Exchange, or SAFE, says the regulator is not making a big change on how to manage foreign exchange reserves.

All operations are in line with its existing foreign exchange goal. Wang adds the country is maintaining a consistent allocation of its foreign exchange reserves across different currencies.

He says the weakening U.S. dollar is a long-term trend, not a short-term worry. Global markets have periodically been shaken by the idea China could dump dollars.