According to the People's Bank of China (PBoC) on Friday, China's gold reserves climbed by 14.9 tonnes to 1,708.5 tonnes in September, after a rise by 16.2 tonnes in August. China is the world's sixth largest gold holder.
Gold reserves in China make up only 1.7% of total reserves. The World Gold Council (WGC) said earlier this year that China should raise its gold holdings to around 5% of its total reserves.