China forex regulator to relax exchange rules for commodities futures market

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.
Source: Reuters (Reporting by Cate Cadell; Editing by Sam Holmes)