官方黄金储备连续11个月增加 9月末外汇储备33387亿美元，创2015年12月以来最高

Core Viewpoint - As of September 2025, China's foreign exchange reserves reached $333.87 billion, marking an increase of $16.5 billion from the end of August, representing a 0.5% rise. This is the highest level since December 2015, with a significant annual increase of $136.3 billion [1][2]. Group 1: Foreign Exchange Reserves - The increase in foreign exchange reserves is attributed to the rise in global financial asset prices and the depreciation of the dollar, despite the dollar index remaining relatively stable [2][3]. - The foreign exchange reserves have now exceeded $3.3 trillion for two consecutive months, reflecting a stable economic environment in China [2][4]. Group 2: Gold Reserves - As of September 2025, China's gold reserves stood at 74.06 million ounces, with an increase for 11 consecutive months, although the increase has been modest in recent months [1][4]. - The central bank's continued accumulation of gold is driven by the changing global political and economic landscape, with expectations that international gold prices may remain high for an extended period [5][4]. Group 3: Economic Context - The overall economic stability and progress in high-quality development in China are favorable for maintaining a stable level of foreign exchange reserves [2][4]. - The U.S. Federal Reserve's recent interest rate cuts and the ongoing geopolitical risks have contributed to fluctuations in international gold prices, influencing China's gold reserve strategy [5][4].