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China · Markets · Source: safe.gov.cn
China's FX reserves edge up to about $3.41 trillion at end-October
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Editor: Hedal Kolanyi / AI-assisted
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Summary: China's State Administration of Foreign Exchange (SAFE) said foreign exchange reserves stood at US$3,405.2 billion at the end of October 2026, up US$4.9 billion (0.14%) from September. Gold holdings rose again in ounce terms, while their dollar value fell.
What happened
In a release dated 7 November 2026, SAFE reported end-October foreign exchange reserves of US$3,405.2 billion, compared with about US$3,400.3 billion a month earlier. That is a rise of US$4.9 billion, or 0.14%.
SAFE linked the change to two forces. It said the US dollar index rose in October and that prices of major global financial assets moved in different directions. According to SAFE, the combined effect of currency translation and asset-price changes lifted the reserve total for the month.
SAFE's official reserve assets table, published the same day, shows gold holdings of 78.30 million fine troy ounces at end-October, up from 77.47 million at end-September. The table values those holdings at about US$306.4 billion, down from about US$323.5 billion a month earlier. In other words, the number of ounces went up while the reported dollar value went down. Total official reserve assets, which also include gold, the IMF reserve position, SDRs and other reserve assets, were about US$3,777.6 billion, slightly below September's US$3,789.4 billion.
Background
As SAFE's own explanation shows, the monthly reserve figure moves with exchange-rate translation and with the prices of the assets held, not only with any buying or selling. SAFE's table shows gold holdings rising in every month from February to October 2026, from 74.19 million ounces at end-January.
Why it matters for markets and crypto
Reserve data is one window into how a major economy manages its currency and external buffers. Changes in large official holdings of gold, dollars and bonds can matter for global financial conditions. This data relates to the wider economy; it does not concern digital assets directly, and this article makes no forecast for any asset.
What to watch next
- 8–9 December 2026: Federal Reserve FOMC meeting, relevant to the US dollar moves that SAFE cites.
- End-November 2026 reserve figures: SAFE's next monthly release (SAFE's page gives no release date).
Sources
- SAFE: End-October 2026 foreign exchange reserves (Chinese), 7 Nov 2026
- SAFE: Official reserve assets table 2026 (PDF), 7 Nov 2026
- Federal Reserve: FOMC meeting calendar
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