China's Gold Reserves Increase for 17 Consecutive Months
China added to its gold reserves for the 17th straight month in March, reaching 74.38 million ounces, while foreign exchange reserves dipped slightly due to a stronger dollar.
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- 📰 Published: April 7, 2026 at 18:42
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According to the latest data from the State Administration of Foreign Exchange (SAFE), China's gold reserves reached 74.38 million ounces at the end of March, an increase of 160,000 ounces from February. The People's Bank of China has been increasing its gold holdings since November 2024. Meanwhile, foreign exchange reserves stood at $3.3421 trillion at the end of March, a decrease of $85.68 billion or 2.5% from February. SAFE attributed this decline to a stronger US dollar and falling global financial asset prices influenced by macro environments and monetary policy expectations. Wen Bin, chief economist at China Minsheng Bank, noted that rising oil prices fueled inflation expectations, leading markets to bet on prolonged high US interest rates, which boosted the dollar and impacted asset valuations. However, he emphasized that China's steady economic growth and advantages in new energy manufacturing help maintain stable forex reserves.