- China has expanded its official Gold holdings for 17 consecutive months, reaching 2,313 tons as part of a global de-dollarization trend.
- The BRICS+ bloc now collectively holds over 6,000 tons, accounting for 17.4% of all central bank gold reserves, a significant increase from 2019.
- Major domestic gold discoveries, including the Wangu and Dadonggou deposits, provide China with strategic domestic supply as it reduces reliance on US dollar assets.
China’s central bank has now persistently increased its gold reserves for 17 consecutive months, a strategic shift fueled by geopolitical reordering and massive domestic mineral discoveries. This sustained central bank gold buying is part of a broader BRICS bloc effort to accumulate hard assets and reduce dollar dependency.
Consequently, China’s official holdings now total 2,313 tons, though this remains far below the US stockpile of 8,133 tons. The nation’s gold reserves as a share of its foreign exchange reserves have climbed to 10%, up from around 4% just three years ago, according to data from the State Administration of Foreign Exchanges and the World Gold Council. Ray Jia, Head of Research for Asia Pacific at the World Gold Council, stated: “China’s gold reserves have risen consecutively for 16 months, sending an important message: in today’s world, gold’s role as an effective portfolio diversifier and uncertainty cushion is highly relevant.”
However, this move is not occurring in isolation. BRICS+ nations have accelerated their collective gold accumulation, adding 663 tons in just the first nine months of 2025 alone. The bloc’s combined holdings now exceed 6,000 tons, representing 17.4% of global central bank reserves. This strategic pivot was catalyzed by events like the 2022 freezing of Russian assets, which prompted a reassessment of dollar-based security.
Meanwhile, China is bolstering its position with unprecedented domestic discoveries. The Wangu gold field in Hunan and the Dadonggou deposit in Liaoning together represent over 2,500 tons of newly confirmed resource. Every ton mined domestically is a ton that bolsters China’s strategic reserves without external market or sanction risks. The World Gold Council notes this activity underscores “gold’s enduring role as a hedge against systemic risks.”
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