WASHINGTON, Oct 20, 2007 (AFP) - US Treasury Secretary Henry Paulson said Saturday the IMF and governments should draft codes of conduct for cash-rich state investment funds that have raised national interest concerns in the United States and Europe.

'The increase in size and number of sovereign wealth funds (SWFs) ... has received increasing attention due to their potential implications for financial markets and investment,' Paulson told International Monetary Fund policymakers on the opening day of the annual IMF meeting here.

PARIS, Oct 14, 2007 (AFP) - The increasing clout of state-run investment funds is causing concern in European countries, where policymakers are anxious to protect industry and strategic assets from foreign takeovers.

According to a study by Morgan Stanley, these so-called sovereign wealth funds, which mainly come from emerging nations like China, Russia and oil-exporting countries, have 2,800 billion dollars (1,900 billion euros) in assets and are multiplying their acquisitions and spectacular shareholdings.

BEIJING, Oct 12, 2007 (AFP) - China's foreign exchange reserves, already the world's largest, surpassed 1.43 trillion dollars at the end of September, the central bank said Friday.

The figure was up 45.1 percent from a year earlier, the central bank said in a statement posted on its website.

The news came the same day that the government said the trade surplus, the main source of reserve growth, hit 185.7 billion dollars in the first nine months, exceeding the 177.5 billion dollars for all of last year.

LAGOS, Oct 2, 2007 (AFP) - Nigeria's foreign currency reserves rose to 46.7 billion dollars in September 2007 from 45.5 billion dollars in the preceding month, the Central Bank of Nigeria (CBN) said Tuesday.

The CBN said the reserves could finance 20 months of imports.

It said the reserves rose because of the rising price of crude on world energy markets. A barrel of crude climbed to 80.86 dollars during the period.

BEIJING, Sept 29, 2007 (AFP) - China launched Saturday a long-anticipated state-owned investment company that is intended to manage around 200 billion dollars, or nearly one sixth of the nation's massive foreign exchange reserves.

The China Investment Corp. will be headed by Lou Jiwei, a former vice finance minister, according to a statement issued by the new company, which took pains to stress the company's independence from government interference.

BEIJING, Sept 29, 2007 (AFP) - China on Saturday launched its long-awaited state investment company which is intended to manage around 200 billion dollars of its massive foreign exchange reserves.

The China Investment Corp. will be headed by Lou Jiwei, a former vice finance minister, according to a statement issued by the new company.

China's reserves, the world's largest, surpassed 1.33 trillion dollars at the end of June, with about 70 percent generally believed to be held in US dollar denominated paper, principally US government bonds.

LAGOS, Sept 19, 2007 (AFP) - Nigeria's foreign currency reserves rose to 45 billion dollars in August 2007 from 43 billion dollars the previous month, the Central Bank of Nigeria (CBN) said Wednesday.

The CBN said the reserves can finance 22 months of imports.

It said the reserves which hit 45 billion dollars in 2005, dropped to 32 billion dollars after Nigeria paid 12.4 billion dollars in Paris Club debts.

SHANGHAI, Sept 19, 2007 (AFP) - China's long-awaited state investment company, which is set to manage part of its massive foreign exchange reserves, will be formally launched on September 28, state press said Wednesday.

Lou Jiwei, a former vice finance minister, will be chairman of the new company while Gao Xiqing, vice chairman of the social security fund, will be appointed as the general manager, China Business News reported.

BEIJING, Sept 13, 2007 (AFP) - China is planning to quadruple its strategic oil reserves to 12 million tonnes within three years and secure roughly the equivalent of one month's import by 2010, state media said Thursday.

By 2020, reserves will be further raised to the equivalent of three months' import, the Shanghai Securities News said, citing Chen Deming, vice chairman of the National Development and Reform Commission, China's top planning agency.

SHANGHAI, Sept 10, 2007 (AFP) - China is expected to formally launch a long-awaited state investment agency to manage part of its massive foreign exchange reserves this week, state press reported Monday.

The management team of the new investment company will include Lou Jiwei, a former vice finance minister, the China Securities Journal reported, citing unnamed sources.

SHANGHAI, Aug 13, 2007 (AFP) - China's policy on its 1.3 trillion dollars of forex reserves is unchanged, and Washington need not worry about the prospect of a massive sell-off of US-dollar assets, economists said Monday.

The People's Bank of China, the nation's central bank, issued a statement over the weekend seeking to soothe fears that China might dump part of its US-dollar assets in a deliberate attempt to send the greenback into a tailspin.