Data released by the National Bureau of Statistics of China on Monday showed that the gross domestic product grew by 4.5 percent year-on-year during the third quarter of this year, surpassing analysts' expectations of 4.4 percent, and compared to growth of 4.3 percent in the second quarter. Growth accelerated on a quarterly basis to 1.2 percent, compared to 0.9 percent in the previous three months, while growth reached 4.6 percent during the first nine months of the year, remaining within the government's annual target range of 4.5 to 5 percent.
In the same context, Beijing continued to increase its gold reserves for the 23rd consecutive month, as the People's Bank of China added approximately 23 tons to its reserves in September, marking the largest monthly increase in nearly three years. China's official holdings reached approximately 2,387 tons by the end of August, according to data from the World Gold Council, in a trend reflecting a strategic approach that goes beyond market fluctuations and is linked to asset redistribution and hedging against financial and geopolitical risks.
For its part, China spent approximately 158.8 billion dollars on importing more than 1,000 tons of gold during the first eight months of the year, surpassing the value of its imports recorded throughout the entire year of 2025, which amounted to 96.5 billion dollars. This increasing demand reflects the interplay of two main factors: the authorities' pursuit of diversifying reserves and reducing reliance on dollar-denominated assets, and the trend of households and investors toward gold amid the scarcity of attractive local alternatives.
The data indicated a decline in fixed asset investments by 7.2 percent during the first nine months of the year, while industrial production rose by 5.5 percent in September, and retail sales accelerated to 1.1 percent. Beijing is betting on the strength of the manufacturing sector and global demand related to technology and artificial intelligence, while avoiding the use of broad stimulus packages, as China's holdings of US Treasury bonds fell to 618 billion dollars in July, the lowest level since 2008.
The repercussions of this policy extend beyond China's borders, as Chinese demand has become one of the factors supporting gold prices in global markets, coinciding with other central banks' trend toward diversifying their reserves. According to a survey by the World Gold Council, 45 percent of participating central banks stated that they intend to increase their gold holdings during the next twelve months, the highest percentage since the survey began in 2018.
Source: Syrian Arab News Agency (SANA)
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