Cashed up China Inc needs to spend

China's vast foreign exchange reserves have reached peak capacity. Now the country's central bankers are looking for ways to invest the country's vast holdings – including a $500 million Australian resource fund.

China’ s foreign exchange reserve stood at just a touch over US$2 trillion in July 2009 when Yi Gang – then a star economic professor – became head of the State Administration of Foreign Exchange.

In little over three years, the fund mushroomed to US$3.7 trillion, a sum that is more than twice the size of Australia’s GDP. How to manage this vast sum of money is a pressing issue for Chinese central bankers.

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