The State Administration of Foreign Exchange (SAFE), which manages China's US$1 trillion-plus foreign currency holdings, has gone on a recruiting drive that will see it double its in-house trading departments, the Financial Times reported. Advertisements placed at major Chinese universities at the end of November said SAFE was looking for 30 new staff, including 15 to specialize in trading and research. The move comes as China deals with pressure to maintain the value of its forex holdings, 70% of which are believed to be in US dollars. SAFE is expected to diversify more into other currencies as well as start buying higher-return products than US Treasury bills. However, stability and liquidity are set to remain at the forefront of its thinking.