央行连续9个月增持黄金，7月末外储余额32922亿美元

Core Insights - The People's Bank of China has increased its gold reserves for nine consecutive months, with a total of 7,396 million ounces as of the end of July, up by 6,000 ounces from the end of June [3] - After a pause in gold purchases since May of the previous year, the central bank resumed its buying in November and has continued through July [3] - China's foreign exchange reserves decreased by $25.2 billion in July, marking a decline of 0.76%, ending a streak of growth that lasted for the first six months of the year [3] Group 1: Gold Reserves - The total gold reserves of China reached 7,396 million ounces at the end of July, reflecting a monthly increase of 6,000 ounces [3] - The central bank's strategy includes a consistent increase in gold holdings, having resumed purchases after a hiatus since May of the previous year [3] Group 2: Foreign Exchange Reserves - As of the end of July, China's foreign exchange reserves stood at $32,922.35 billion, down from the previous month [3] - The decline in foreign exchange reserves was attributed to various factors, including macroeconomic data and currency policies from major economies, which influenced the dollar index and global financial asset prices [3] - Despite the recent decline, the foreign exchange reserves had seen a total increase of $115.065 billion in the first half of the year [3] Group 3: Economic Outlook - The State Administration of Foreign Exchange emphasized the stability and resilience of China's economic fundamentals, which are expected to support the stability of foreign exchange reserves [4] - The agency outlined plans for the second half of 2025 to enhance the management of foreign exchange reserves, focusing on asset safety, liquidity, and value preservation [4]