The State Oil Fund of Azerbaijan has added Chinese yuan to its investment currency basket. According to the statement by the fund, with the objective of diversifying its currency basket, it obtained license from the Central Bank of the Republic of China to make investment worth 3 billion with Chinese yuan in 2014 and carried out its first investment of this kind as of July 1. The statement said that the fund plans to get the license of "Authorized Foreign Institutional Investor" from China Securities Supervisory Commission in order to invest in Chinese stock market in the next stage. As required by the decision that was made by Azeri Presidency in 2001, the oil fund has authority to diversify its investment portfolio with the currency units of G7 countries - the United States, the United Kingdom, Germany, France, Italy, Canada and Japan - eurozone countries, Russia and Turkey.
