我国外汇储备创10年新高，连续五个月站上3.3万亿美元

Core Viewpoint - As of December 2025, China's foreign exchange reserves reached $3.3579 trillion, marking a continuous increase for five months and the highest level since December 2015, driven by factors such as currency policy and macroeconomic data [3][7]. Foreign Exchange Reserves - The increase in foreign exchange reserves by $11.5 billion (0.34%) from November is attributed to the decline in the US dollar index and fluctuations in global financial asset prices [3][7]. - The dollar index fell by 1.1% to 98.3 in December, contributing to the appreciation of non-dollar assets in China's reserves [7]. - The overall foreign exchange reserves increased by $155.5 billion compared to the end of the previous year, with a significant decline of 9.4% in the dollar index throughout 2025 [7][8]. Gold Reserves - The central bank increased its gold reserves for the 14th consecutive month, reaching 7.415 million ounces (approximately 2306.323 tons) by the end of December 2025, with a month-on-month increase of 3,000 ounces [4][10]. - The pace of gold accumulation has slowed, indicating a balance between optimizing reserve structure and controlling acquisition costs [5][10]. - The central bank's strategy reflects a commitment to diversifying international reserves and enhancing the role of gold as a hedge against market volatility [10][11]. Economic Context - The stability of foreign exchange reserves is supported by China's economic performance, with improvements in export product structure and capital market performance [8]. - The central bank's actions are seen as a response to global economic uncertainties and a strategy to mitigate risks associated with reliance on a single currency [11].