BEIJING, June 29 (Xinhua) — China’s legislature on Friday authorized the Ministry of Finance (MOF) to issue 1. The motion was adopted at the ongoing 28th session of the Standing Committee of the National People’s Congress. At the same time, a “central finance forex management fund” will be established to examine the revenue and expenditure of the special treasury bonds and forex assets, said the motion. Launching a forex investment company would decrease China’s forex reserves while increasing its operating profits, said the official. After adopting labor contract law and the amendment to the income tax law and approving a couple of motions and bills, the six-day session of the Standing Committee of the National People’s Congress concluded on Friday. read more
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