China to slow growth of FX reserves -VP Zeng

BEIJING, Sept 4 (Reuters) China will act to slow the growth of its foreign exchange reserves and spend more of its current 1.1 billion stockpile on imports of strategically important resources and high-tech goods, Vice-President Zeng Qinghong said in remarks published on Monday.

Zeng's comments were carried on the front page of the Study Times, the newspaper of the ruling Communist Party's Central Party School.

China will press ahead with efforts to reform its foreign exchange regime and to promote balance in its international payments, the paper quoted Zeng as saying.

Beijing would also improve the management of its currency reserves and give companies and individuals more access to foreign exchange, Zeng said, without going into details.

REUTERS SBA PM2034