US EditionChina loosens gold import quotas with eye on arresting yuan rally
- Chinese authorities announced stimulus measures on May 7, 2025, including interest rate cuts and liquidity injections to soften economic damage.
- The stimulus responds to economic damage caused by U.S. Tariffs under President Trump's trade war, which has reduced export orders since April.
- China's central bank increased gold import limits and permitted certain commercial banks to acquire foreign currency in order to finance these higher gold imports.
- Official figures revealed that China's gold holdings increased for the sixth consecutive month in April, during a period when the price of gold reached a record peak of $3,500 per ounce in the previous month.
- The quota increase could help banks meet higher gold demand and slow the yuan's rapid appreciation, which would relieve pressure on exporters.
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China loosens gold import quotas with eye on arresting yuan rally
China's central bank has approved foreign exchange purchases by some commercial banks to pay for gold imports under recently increased quotas, two people with direct knowledge of the matter said on Wednesday.
·United Kingdom
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