2025年7月外汇储备、黄金储备数据解读

Foreign Exchange Reserves - As of the end of July 2025, China's foreign exchange reserves stood at $329.22 billion, a decrease of $25.2 billion from the end of June, representing a decline of 0.76%[2] - The decline in reserves was primarily due to a 3.39% increase in the US dollar index, which led to a drop in the prices of non-dollar assets within the reserves[2] - The average monthly trading volume of foreign reserve assets from 2017 to 2024 was approximately $8.4 billion, accounting for 0.27% of the total reserves, indicating that changes in reserve balances are mainly influenced by exchange rate adjustments and asset price fluctuations[2] Gold Reserves - As of the end of July 2025, China's official gold reserves increased to 7.396 million ounces, with a month-on-month increase of 60,000 ounces, marking the ninth consecutive month of growth[2] - The increase in gold reserves is driven by the need to optimize the international reserve structure, as the gold proportion in China's reserves is only 1.7%, significantly lower than the global average of around 15%[4] - The central bank's continued accumulation of gold is seen as a strategy to enhance the credibility of the sovereign currency and support the gradual internationalization of the renminbi[4]