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: Gold now accounts for approximately 8.5% to 9.6% of China's total foreign exchange reserves by value, up from less than 3% prior to the COVID-19 pandemic.
The Chinese government's aggressive turn toward gold is widely viewed as a "firewall" against Western financial influence. China gold market update: A strong start to 2026
: As of March 2026, the People’s Bank of China (PBoC) officially reported 2,313 metric tons of gold.
The Chinese government has engaged in a prolonged strategic accumulation of gold reserves, recently reaching a milestone of of purchases as of March 2026. This "buying spree" is driven by a complex interplay of geopolitical risk mitigation, domestic economic pressure, and a long-term goal of de-dollarization. Current Scale of Chinese Gold Reserves
: Throughout 2025 and into early 2026, the PBoC maintained near-continuous monthly additions, though it occasionally utilized "tactical maneuvers" by reducing purchase sizes when prices reached record highs. Strategic and Geopolitical Drivers
