PBOC: In a major move highlighting economic strategy, The People’s Bank of China (PBoC) expanded its gold reserves for the 19th consecutive month in May. Fresh data reveals that China added nearly 10 tonnes (9.95 tonnes) of bullion to its central holdings, underscoring its long-term plan to diversify assets away from single-currency reliance amidst shifting global macroeconomics.
According to official data released on June 7, 2026, by the State Administration of Foreign Exchange (SAFE), China’s total gold reserves have reached a massive 74.96 million troy ounces (approximately 2,331.52 tonnes), solidifying Beijing’s posture against an increasingly volatile global macroeconomic and geopolitical landscape.
Key Data Points
According to the latest figures released by China’s State Administration of Foreign Exchange (SAFE), the nation’s financial buffers saw substantial growth across multiple asset classes:
- Gold Reserves Boost: Official reserves increased by 320,000 troy ounces (approximately 9.95 tonnes) in May alone.
- Total Gold Holdings: China’s total official gold holdings have now reached 74.96 million troy ounces, equivalent to 2,331.52 tonnes.
- Forex Reserve Milestone: China’s total foreign exchange reserves jumped by 31.7 billion dollar (0.93% up from April) to land at 3.4422 trillion dollar by the end of May. This marks the highest level for China’s FX reserves since November 2015, maintaining a strong baseline above 3.3 trillion dollar for 10 straight months.
Financial analysts note that unlike dollar-denominated assets, gold provides a robust shield for central banks because it cannot be frozen, sanctioned, or directly devalued by the policies of foreign governments.
What is Driving the Financial Growth?
SAFE attributed the robust expansion of reserves to a firmer U.S. Dollar Index combined with climbing global asset prices, adding that China’s steady domestic economic momentum continues to anchor its reserve stability.
Market experts also link the surge in foreign exchange reserves directly to China’s powerhouse trade performance. According to the General Administration of Customs, China’s total foreign trade during the first four months of the year rose to 2.39 trillion dollar (a 14.9% year-on-year increase). Within this, exports grew 11.3% to 1.37 trillion dollar, while imports rose 20% to 1.01 trillion dollar.
FAQ’s
1. How much gold did the PBOC add in May 2026?
The People’s Bank of China added approximately 9.95 tonnes of gold, equivalent to 320,000 troy ounces, to its official reserves in May 2026.
2. What are China’s total gold reserves now?
China’s official gold reserves have reached 74.96 million troy ounces, or about 2,331.52 tonnes, according to data released by SAFE.
3. Why is China increasing its gold reserves?
China is increasing its gold holdings to diversify away from reliance on a single currency, strengthen financial stability, and protect reserves from geopolitical risks, sanctions, and currency devaluation.
4. How have China’s foreign exchange reserves changed?
China’s foreign exchange reserves rose by 31.7 billion dollar in May 2026, reaching 3.4422 trillion dollar, the highest level since November 2015.
5. What factors are driving the growth in China’s reserves?
SAFE attributes the growth to a stronger U.S. Dollar Index, rising global asset prices, steady domestic economic performance, and robust foreign trade growth in the first four months of 2026.
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