Chinese Gold Market Expands as Imports from Hong Kong Surge

Chinese Gold Market Expands as Imports from Hong Kong Surge

China’s gold market is showing strong expansion as imports from Hong Kong continued to rise for the second consecutive month. According to data from the Hong Kong Statistics Department, net gold exports to China totaled 48.1 tons in May, up from 43.4 tons in April.

This sustained demand indicates growing interest in gold within China, driven primarily by investment and safe-haven buying amid ongoing uncertainties around US tariff policies. While jewelry demand remains subdued due to record-high prices, investment demand has surged.

Earlier this year, China sold a net 36 tons of gold to Hong Kong during the first quarter, signaling robust appetite for the precious metal despite price pressures.

In addition to rising imports, China’s Ministry of Industry and Information Technology announced plans to increase exploitable gold reserves by 5-10% by 2027. The country also aims to boost gold production by over 5% in the next two years. Although China is already the world’s largest gold producer, it still relies on imports to satisfy domestic consumption.

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