UPDATE 1-No big changes in China forex management -SAFE

* No big adjustment to FX reserves management - SAFE

* Similar proportion of various currencies in reserves

BEIJING, Dec 4 (Reuters) - China has made no big adjustment to its foreign exchange reserves management, Wang Xiaoyi, deputy head of China's forex regulator, the State Administration of Foreign Exchange, said on Friday.

"We are not making any big adjustment in how to manage our foreign exchange reserves, and all our operations are in line with our existing forex management goal," Wang said before a conference in Beijing.

"We now have similar proportions of different currencies in our forex reserves as we had before."

China says it manages its yuan exchange rate with reference to a basket of foreign currencies and lets it move within a narrow band, but in practice the yuan has been pegged against the U.S. dollar since the summer of 2008.

That has caused tensions with some trade partners, and competitive devaluation by Vietnam, since as the U.S. dollar weakens against other world currencies, the Chinese yuan does as well. Trade partners complain this gives Chinese exporters an unfair competitive advantage.

"The weakening of U.S. dollar will be a long-term trend but we don't see big fluctuations in the near term," Wang said.

Chinese officials have repeatedly expressed concern over the value of the U.S. currency since most of China's foreign exchange reserves are parked in U.S. treasuries. (Reporting by Aileen Wang and Ben Blanchard; Editing by Jacqueline Wong) ((ben.blanchard@thomsonreuters.com; +86 10 6627 1201; Reuters Messaging: ben.blanchard.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))