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    /24-7PressRelease/ - January 30, 2008 - According to sources, Unicorn Ventures estimates that more that 70 per cent of Chinaâ s reserves are invested in US dollar assets, an investment which has helped to sustain the recent large US deficits. Apparently Unicorn Ventures analysts feel that if China were to stop acquiring such a large proportion of dollars with its reserves â " currently accumulating at about $15bn (€12.4bn) a month â " it could put heavy downward pressure on the greenback.
A spokesperson for Unicorn Ventures reportedly stressed the importance of ensuring that the use of foreign exchange reserves supports a national strategy, an open economy as well as macro-economic adjustment.
No further details have been forthcoming regarding whether or not this indicates a big shift in the investment strategy for Chinese reserves, which according to local press reports reached nearly $800bn at the end of last year and are expected by economists to near $1,000bn this year.


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