The central bank has increased its gold holdings for nine consecutive months, with foreign exchange reserves standing at $3.2922 trillion at the end of July

    China's central bank has increased its gold holdings for nine consecutive months.

    Data released by the People's Bank of China on August 7 showed that China's gold reserves stood at 73.96 million ounces at the end of July, up 60,000 ounces from 73.90 million ounces at the end of June.

    After 18 consecutive months of gold accumulation, the central bank paused its purchases starting in May last year. It resumed buying in November and continued through July.

    Foreign exchange reserves data released the same day ended a streak of increases.

    Data released by the State Administration of Foreign Exchange on August 7 showed that China's foreign exchange reserves stood at $3,292.235 billion as of the end of July 2025, down $25.2 billion or 0.76% from the end of June.

    The SAFE stated that in July 2025, influenced by macroeconomic data, monetary policies, and expectations in major economies, the U.S. dollar index rose while global financial asset prices fluctuated. The combined effects of exchange rate conversions and asset price changes led to the monthly decline in foreign exchange reserves.

    China's foreign exchange reserves maintained continuous growth momentum in the first six months of this year, accumulating an increase of $115.065 billion. In the first seven months, reserves rose by $6.679 billion, $18.2 billion, $13.441 billion, $41 billion, $3.6 billion, and $32.167 billion, respectively, before declining by $25.187 billion in July.

    The SAFE stated that China's economy possesses a solid foundation, multiple advantages, strong resilience, and vast potential. The fundamental conditions and long-term positive trend supporting its development remain unchanged, which is conducive to maintaining the basic stability of foreign exchange reserves.

    At the foreign exchange management work conference for the second half of 2025 held on August 1, the State Administration of Foreign Exchange outlined key tasks for the latter half of the year, emphasizing the need to improve the management of foreign exchange reserves with Chinese characteristics and ensure the safety, liquidity, and preservation and appreciation of reserve assets.