Chinese gold imports have hit their highest level in more than two years as the world’s biggest buyer is taking advantage of price declines to accelerate its purchases. China imported 163 tons of gold in May, the largest volume since early 2024, according to Chinese import data. Imports for the first five months of 2026 are up 76 percent to nearly 700 tons.
After an explosive jump last year, the precious metal’s price has moderated, boosting interest among perennial buyers.
Strong Chinese demand for gold bars is driving the import increase, as well as buying through “gold accumulation plans,” which allow individual investors to incrementally purchase gold, according to the Guangzhou Southern Gold Market Academy, as reported by Bloomberg News. Jewlers are also taking advantage of the price decline to restock their inventories.
Beyond its gold imports, China is the world’s largest miner of gold, having accounted for 385 metric tons or 10 percent of global production in 2025, according to the World Gold Council.
Another factor that appears to be boosting Chinese buying on the international market is the country’s easing of restrictions on gold imports. Chinese insurance companies can now buy bullion as an investment asset, and more ports are authorized to clear and process gold imports.
