China Should Reduce Its Excessive Forex Reserves at $1.3 Trillion: Banker

China should diminish its substantial foreign exchange supplie and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday. The total amount of foreign exchange reserves should be limited to between 800 billion to 1.3 trillion U.S. dollars, Tang told a discussion forum in Beijing, stating that the existing reserve level is just too high.

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