外汇储备连续四个月站稳3.3万亿美元

Core Viewpoint - The latest foreign exchange reserve data indicates a slight increase in China's foreign reserves, with a notable rise in gold reserves, reflecting ongoing economic stability and strategic asset management by the People's Bank of China [1][3][5]. Foreign Exchange Reserves - As of November 2025, China's foreign exchange reserves reached $33,464 billion, an increase of $30 billion from October, representing a growth rate of 0.09% [1][3]. - The rise in reserves is attributed to various factors, including macroeconomic data from major economies and expectations regarding monetary policy, leading to a decline in the US dollar index [3][4]. - The reserves have remained above $3.3 trillion for four consecutive months, with a significant year-to-date increase of $144 billion, primarily driven by the depreciation of the US dollar and lower US Treasury yields [4]. Gold Reserves - China's official gold reserves increased to 7,412 million ounces (approximately 2305.39 tons) by the end of November, marking the 13th consecutive month of growth, although the increase was modest [1][5]. - The People's Bank of China has been gradually increasing its gold reserves, with the latest increment being the lowest since the resumption of purchases in November 2024, reflecting a strategic response to global economic conditions [5][6]. - Analysts suggest that the ongoing geopolitical risks and the anticipated easing of US monetary policy are driving the need for continued gold accumulation to optimize the international reserve structure [6][7].