China Hires Pimco's Changhong Zhu To Manage Country's Giant Forex Reserves

china yuan

It’s been joked that PIMCO is the fourth branch of the US government, but it seems the kings of fixed income are doing well with the Chinese government as well.

Manager Changhong Zhu is being hired by China as its Chief Investment Officer, basically overseeing a staggering $2.3 trillion of forex reserves.

According to Bloomberg, Zhu joined PIMCO in 1999, and is a member of its investment committee.

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