China Gold Imports Soar to Record $158B Amid Investment Demand

China's gold imports have surged to a record high of $158.8 billion in the first eight months of this year, surpassing last year's total of $96.5 billion on 886 tons of gold. The country imported around 1,141 metric tons of gold during this period, according to Chinese customs data.

The rise in imports comes amid increased investment demand in China, driven by economic uncertainty and limited investment alternatives. Sales of gold coins and bars for investment in China rose 28% year-on-year to 339 tons in the first half of 2026, according to the China Gold Association.

Analysts point to a combination of factors contributing to the surge in imports, including the central bank's stepped-up purchases, improved confidence among retail investors, and a new licensing system introduced in June. The People's Bank of China added 20 tons of gold to its reserves in August, the largest monthly figure since October 2023.

Gold prices in China are currently trading slightly above international benchmarks, creating an incentive for imports, according to Zijie Wu, an analyst at Jinrui Futures. Lisa Liu, managing director at Gold Mountains Asset Management, notes that both the central bank and private investors are diversifying their reserves and savings towards gold as part of a broader long-term wealth preservation strategy.