China’s foreign exchange reserves reached US$3.3579 trillion at the end of December 2025, an increase of US$11.5 billion, or 0.34 percent, from November, according to data released by the State Administration of Foreign Exchange. Over the same period, China’s gold reserves rose by 30,000 ounces to 74.15 million ounces, marking the central bank’s 14th consecutive month of gold purchases.
Analysts quoted by Chinese state-run media outlet People’s Daily wrote that “the current level of foreign exchange reserves remains adequately ample and is expected to stay broadly stable.”
The analysis noted that China’s gold holdings remain relatively low. As of the end of November 2025, gold accounted for about 9.5 percent of China’s official international reserves—mainly composed of foreign exchange and gold—well below the global average of around 15 percent. From the perspective of optimizing the reserve structure, continued increases in gold holdings are seen as necessary. Gold is also widely accepted worldwide as a final means of payment, and “further purchases by the central bank could help strengthen confidence in China’s sovereign currency and support the advancement of renminbi internationalization.”
Source: People’s Daily, January 8, 2026
http://finance.people.com.cn/n1/2026/0108/c1004-40641245.html