This is historic:
China’s official gold reserves have surged by more than 300 tonnes since 2022, pushing total holdings past 2,300 tonnes.Gold now accounts for over 7% of China’s total foreign exchange reserves, up from just 2% in early 2022.This marks the fastest sustained accumulation by the PBoC in modern history, signaling a deliberate diversification away from the dollar.By comparison, gold’s share of reserves in Western central banks often exceeds 60–70%, showing Beijing still has plenty of room to increase its allocation.In other words, the PBoC has been steadily turning gold into a cornerstone of its reserve strategy, aiming to reduce its reliance on the dollar.China’s gold build-up is reshaping the global reserve landscape.Source: StockMarket.News
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