The latest gold purchase by the world’s second-largest economy came at a time when global central banks are hoarding the precious metal. Photo: Reuters

China joins global central bank gold rush as foreign exchange reserves stabilise

  • The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018
  • China, the world’s largest foreign exchange reserve holder, has been reluctant in diversifying its US$3 trillion foreign exchanges into gold
Topic |   China economy

TOP PICKS

The latest gold purchase by the world’s second-largest economy came at a time when global central banks are hoarding the precious metal. Photo: Reuters
READ FULL ARTICLE
Zhou Xin

Zhou Xin

Zhou Xin co-leads the political economy team at the Post. He mainly covers economic stories but also writes about Chinese politics and diplomacy. He has previously worked for Reuters and Bloomberg in Beijing.

Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.