Actual gold reserves in China could be larger than official figures due to proxy holdings by state-owned miners, sovereign wealth funds and other government investment vehicles. Photo: VCG via Getty Images
Actual gold reserves in China could be larger than official figures due to proxy holdings by state-owned miners, sovereign wealth funds and other government investment vehicles. Photo: VCG via Getty Images

Explainer |
Is China stockpiling gold? 1 million ounces added in November amid Beijing’s asset diversification efforts

  • China increased its gold reserves for the first time since September 2019 in November by 1.03 million ounces to lift its holdings to 63.67 million ounces
  • Increased purchases of gold are expected amid Beijing’s diversification efforts and international financial market volatility

Actual gold reserves in China could be larger than official figures due to proxy holdings by state-owned miners, sovereign wealth funds and other government investment vehicles. Photo: VCG via Getty Images
Actual gold reserves in China could be larger than official figures due to proxy holdings by state-owned miners, sovereign wealth funds and other government investment vehicles. Photo: VCG via Getty Images
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