According to a report in China Daily on February 8, 2026
China added to its official gold reserves in January despite elevated global prices, extending a 15-month buying streak as the country continues to diversify and optimize its international reserve assets.
According to data released on Saturday by the State Administration of Foreign Exchange, China’s gold holdings rose to 74.19 million ounces at the end of January, an increase of 40,000 ounces from the previous month.
The latest addition follows a net increase of 860,000 ounces in 2025, after the central bank resumed gold purchases in November 2024, ending a brief pause earlier that year.
Strategic diversification, not short-term trading
Analysts say the steady pace of accumulation—maintained even as gold prices hover near historical highs—underscores Beijing’s long-term approach to reserve management rather than a reaction to short-term market movements.
Wang Qing, chief macroeconomic analyst at Orient Golden Credit Rating, said the continued, measured purchases signal an effort to improve the structure of China’s official reserves. By the end of 2025, gold accounted for about 9.7 percent of the country’s total reserves, still well below the global average of roughly 15 percent, he noted.
“Short-term price volatility is unlikely to materially alter the central bank’s broader strategy of gradually increasing its gold holdings,” Wang said.
Global context
The World Gold Council said in a recent report that while the pace of purchases may have been tactically adjusted as prices surged, China’s ongoing accumulation reflects a strategic push toward greater diversification as its international reserves continue to expand.
For global markets, China’s sustained gold buying has been closely watched as part of a broader trend among central banks—particularly in emerging economies—to reduce exposure to single-currency risks and enhance the resilience of reserve portfolios.