China Aims to Become Custodian of Foreign Gold Reserves, Report Says
China is reportedly planning to position itself as a custodian for foreign sovereign gold reserves in an effort to Reduce its dependence on Western financial systems.
According to people familiar with the matter, the People’s Bank of China is encouraging central banks in friendly nations to purchase gold and store it within Chinese borders. The strategy is partly enabled through the Shanghai Gold Exchange. Which China is using to court foreign governments. Several months of discussions suggest at least one Southeast Asian country has shown interest in the proposal.
China already ranks among the top holders of official gold reserves. Currently holding about 2,298.5 tonnes. In parallel, Beijing is expanding “multi-use permits” for gold trade at more ports. Aiming to streamline regulatory burdens on imports and exports while enhancing its influence in the global bullion market.
Clever Robot News Desk 26th September 2025
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