China

China is increasing its gold reserves in a bid to reduce its dependence on US dollar assets and protect against financial and geopolitical risks, analysts say, while households are turning to the precious metal amid uncertainty over the domestic economy.

The People’s Bank of China reported buying gold for a 23rd consecutive month in September, when the country’s central bank also made its largest monthly purchase in nearly three years. The sustained buying points to a longer-term effort to spread risk associated with its vast reserves, experts say.

Among concerns is high US debt and Western governments’ freezing of assets, which has highlighted the inherent risk in holding money overseas, particularly for emerging market and Global South economies. Gold bought and stored domestically offers protection against that risk because access does not depend on the will of another government.

But central bank buying and household demand for gold in China have different drivers. While Beijing is managing its financial exposure, private investors are seeking somewhere to preserve their savings. Here is what we know.

How much gold has China bought?

China’s central bank added approximately 23 tonnes of gold in September, bringing its reported holdings to about 2,410 tonnes, according to the World Gold Council. That was its largest monthly purchase since October 2023. Gold accounted for 8.5 percent of China’s total official reserves at the end of September, compared with 5.5 percent at the end of 2024.

Reserves are assets central banks hold to ensure they can meet international payments and respond to financial disruption. They usually include foreign currencies, foreign government debt and gold.

Private demand for gold within China has also risen, with purchases of gold bars and coins 28.4 percent higher in the first half of 2026 than during the same period last year, according to the China Gold Association. The buying of gold has continued amid falling prices, with gold down around 8.5 percent over the month.

The World Gold Council attributed the decline in gold prices partly to a stronger dollar and higher returns on US government debt. With interest rates going up in an attempt to curb inflation, these investments are attractive for buyers as they pay interest, making them more attractive to private investors than gold, which does not.

Why is China buying more gold?

A key objective is to reduce dependence on US government debt, known as Treasuries, according to Thu Lan Nguyen, head of commodity research at Commerzbank in Frankfurt.

China holds substantial reserves in dollar-based assets and, therefore, buying gold reduces its exposure to decisions taken in Washington. “China’s gold purchases are part of a broader effort to make its reserves more resilient,” Nguyen told Al Jazeera.

The freezing by Western countries of roughly $300bn in Russian Central Bank overseas assets following Moscow’s invasion of Ukraine in 2022 demonstrated how reserves held abroad can quickly become inaccessible.

The concern for China may be that a future confrontation with Washington could expose some of its overseas assets to similar restrictions. “Gold held domestically has a crucial advantage in this respect: it does not represent a claim on another country and is therefore much less exposed to sanctions or asset freezes,” Nguyen said.

“I would interpret it primarily as risk management,” she added, pointing to increased geopolitical tensions and economic and fiscal risks.

America’s rising debt, which hit $40 trillion for the first time in history earlier this year, adds another source of uncertainty. In February, the US Congressional Budget Office projected that federal debt held by the public would rise from 101 percent of the size of the US economy in 2026 to 120 percent in 2036. That provides context for concerns about Washington’s ability to repay that debt going forward should an economic crash occur. Much of this debt is held by China. Gold, therefore, offers a less volatile and risky asset to hold.

Chinese households have different motivations for buying gold. When confidence in other investments weakens, gold can become more attractive as a way to hold savings. “Strong demand for gold can partly reflect a search for alternative stores of value,” Nguyen said.

The World Gold Council has identified weak Chinese share markets as one factor supporting domestic demand for gold, while its property market is burdened by heavy borrowing and overbuilding, contributing to a fall in housing prices, making it a poorer investment.

What this means for the US dollar

Analysts warned that China’s increased buying of gold does not signal an imminent end to the dollar’s global dominance. “I would be cautious about describing this as a major shift away from the dollar,” Nguyen said. “The dollar remains by far the dominant global reserve currency.”

But a gradual shift could still matter if China and other central banks put more of their new reserves into gold, buying fewer US assets than they normally would. That could weaken one source of demand for US government debt. But the effect would depend on how widely and quickly the shift developed.

“The key point is, therefore, that this is likely to be a slow diversification process rather than a sudden abandonment of the dollar,” Nguyen said. She added that the consequences for the US economy would remain limited unless the trend broadened and accelerated substantially.

Central banks also need readily available foreign currency to support international payments and the dollar remains central to those transactions. So gold can provide financial protection, but it cannot directly replace all the functions of dollar reserves.

Who else is buying gold?

China is part of a wider trend, particularly among central banks in emerging economies, Nguyen said.

“The trend is particularly visible among emerging market central banks,” Nguyen said. “But sanctions are only part of the story.”

Poland has also become a more prominent buyer. Its central bank purchased 31 tonnes in the first quarter of 2026 and another eight tonnes in July, according to the World Gold Council.

Large holdings do not necessarily indicate recent purchases. India, for example, confirmed in June that its physical gold stock remained unchanged at about 880.5 tonnes. India’s gold reserves have changed little since mid-2025, according to the World Gold Council. It bought about four tonnes in 2025, down from 73 tonnes in 2024.

Despite China’s sustained buying, its reserves remain far smaller than those of the United States. Its holdings of about 2,300 tonnes at the end of 2025 amounted to less than one-third of the US stockpile of approximately 8,133 tonnes.

“The Palestinian question is the greatest historical injustice of this century,” China’s foreign minister said.

China’s Foreign Minister Wang Yi has told Israeli President Isaac Herzog during a meeting in Azerbaijan that Israel should stop and reverse its “forced establishment” of West Bank settlements, China’s foreign ministry said in a statement.

Wang told Herzog that China has consistently viewed the Palestinian question as the greatest historical injustice of this century, the ministry said in the statement on Friday.

Wang emphasised that the “two-state solution” is the right path to a resolution and said the immediate priority is to fully open access to the Gaza Strip so a humanitarian “catastrophe” is not allowed to spread.

Wang added that China is willing to work with the international community to push all parties to return to dialogue as soon as possible and seek a political settlement.

Wang is attending the Seventh Summit of the Conference on Interaction and Confidence-Building Measures in Asia, held in Baku, Azerbaijan, as the special representative of President Xi Jinping, China’s state news agency Xinhua reported.

China urges new Middle East framework

In September, Chinese President Xi Jinping visited Cairo for the first time in a decade and called on Middle East countries to oppose external influence and consider reshaping the region’s security order.

Xi’s rare visit arrived as Beijing seeks to expand its influence in the region amid the US-Israel war on Iran.

The talks covered the US-Israel war on Iran, with both presidents urging “diplomatic solutions” to reach a “comprehensive agreement to end the war”, according to a statement from Egyptian President Abdel Fattah el-Sisi’s spokesperson.

In March, China criticised the US and Israeli attacks on Iran, with Beijing demanding an immediate halt to the joint attacks. Wang told his Israeli counterpart, Gideon Saar, that the attack on Iran came as negotiations between Washington and Tehran had “made significant progress, including addressing Israel’s security concerns”, China’s foreign ministry said in a statement following the start of the war.

China was Iran’s largest trading partner, buying up to 90 percent of its oil, according to the US-China Economic and Security Review Commission. In 2021, Beijing signed a 25-year “comprehensive strategic partnership agreement” with Tehran.

At the same time, Beijing has spent the past decade cultivating closer ties with Gulf countries, including Saudi Arabia, Qatar and the United Arab Emirates, and remains a top trade partner of both the US and Israel.

WASHINGTON — New White House press secretary Katie Zacharia defended her legal background and justified her truncated inaugural briefing as she navigates a rocky first week as the president’s chief spokeswoman.

Zacharia sat down for an interview Thursday with the conservative Human Events outlet. In it, she said she did not have time to get fully prepared ahead of her first briefing on Tuesday and that it was always the plan to keep it short because President Trump would field questions from journalists later that morning.

“It was absolutely my goal to keep it short, considering he is his own best spokesperson, and he would love — and does love — gaggling with the media as he goes to Marine One,” Zacharia said. “So I wanted to give ample deference and not barge into his time.”

The initial briefing materials were given to Zacharia on Monday evening, then completed on Tuesday at 8 a.m., less than two hours before she would appear before the White House press corps. She had been up since 3 a.m. preparing, Zacharia said.

“I never had a full briefing beforehand, and I went out and I effectuated the briefing,” she said.

As for her legal background, Zacharia said she was preparing to take the bar exam in California at a time that she had just gotten married and was readying a move to China to join her new husband, who had been working in private equity in Beijing.

“I was obviously incredibly distracted and overwhelmed and excited for finally being married to someone who I’d been long distance from for at least a year,” Zacharia said.

She said the results of the bar exam, which she did not pass, were “somewhat inconsequential” because she would not need to be a barred attorney while living in China.

Zacharia, who has been under scrutiny for calling herself a “lawyer,” said she consulted several legal experts to ensure that title was accurate when offering legal analysis.

“It’s unfortunate that people dub this as some kind of conspiracy or want to put me in a camp. The truth is, I was very careful how I executed this, and I never came across as someone who was an attorney-at-law.”

She will not weigh in on legal matters in her White House capacity, Zacharia said.

She also divulged details of how she went about securing the White House press secretary job. Zacharia stressed that she did not want to be seen as lobbying for the position, left vacant when Karoline Leavitt announced she would depart the administration to spend more time with her family.

Zacharia, who was a communications advisor for the company that runs Truth Social, said she closely monitored the president’s social media posts to determine what was top of mind for him, then would go on air to talk about those topics.

“My philosophy is, I’m on TV enough where if he sees me and he likes me, then I will be recruited for the job. I do not believe that lobbying for that job would have been successful, and I wanted to work for it. I wanted to audition for it.”

Then on Oct. 7, as Zacharia was preparing to take one of her children to a pumpkin patch, she received a phone call from Trump about the press secretary position.

She promptly flew out the next day from her home in California to Washington, met with the president about the job on Friday and formally accepted the position later that day.

Kim writes for the Associated Press.

The long-delayed bridge will formally open on Thursday, according to China’s state-run Xinhua news agency.

China and North Korea will officially open the New Yalu River Bridge to traffic on Thursday, China’s state-run Xinhua news agency reports.

China completed its side of the bridge in 2014, hoping to boost trade ties. However, North Korea left its side unfinished for years as relations soured after Beijing supported United Nations sanctions over Pyongyang’s nuclear tests.

The first bridge connecting Russia and North Korea also opened earlier this month.

China-North Korea Relations  

China’s exports to North Korea rose to a six-year high of $2.3bn last year, a 25 percent increase from the previous year. Chinese President Xi Jinping was welcomed in Pyongyang in June for the first time since 2019.

Since 2018, Beijing has tried to repair ties with Pyongyang, which also briefly began improving relations with Washington around the same time.

The China-North Korea relationship was forged during the Korean War. In 1961, the two countries signed the Treaty of Friendship, Cooperation and Mutual Assistance, which remains China’s only formal military alliance.

The treaty contains a mutual defence clause committing either side to assist the other if one comes under armed attack.

Although China was North Korea’s main diplomatic partner and protector for decades, relations strained after Beijing in 2017 supported tightening sanctions on Pyongyang for its nuclear weapons programme.

Analysts say North Korea’s recent growing relationship with Russia may have changed the balance of Pyongyang’s diplomatic dependence, reducing its reliance on Beijing.

North Korea and Russia signed a comprehensive strategic partnership treaty in 2024, including a mutual defence provision. Military and political ties between the two countries have grown considerably stronger, with North Korea deploying thousands of troops to fight in Russia’s war on Ukraine.

United States President Donald Trump also signalled an interest in repairing relations with Pyongyang last month, after his talks with North Korean leader Kim Jong Un abruptly ended in 2019. In his second term, Trump has floated meeting Kim again, though no official meeting has been set.

North Korea has not yet resumed issuing tourism visas to Chinese citizens, who once made up the bulk of its overseas visitors.

While North Korea’s trade with Russia largely involves military supplies, exchanges with China could arguably involve goods North Korea needs to develop its civilian economy, analysts have said.

Chinese foreign ministry cites national sovereignty and Taiwan separatist activities as reasons behind the measures.

China has sanctioned Paraguay’s communications minister and Belize’s foreign minister over ties to Taiwan.

The Chinese Ministry of Foreign Affairs made the announcement on Monday, citing the safeguarding of China’s national sovereignty and opposition to Taiwan separatist activities as the reasons behind the measures, which went into effect the same day.

The measures against Paraguay’s Communications Minister Gustavo Villate and Belize’s Foreign Minister Francis Fonseca include the freezing of their assets in China and the denial of entry visas to Hong Kong and Macau.

The sanctions also prohibit Chinese organisations and individuals from engaging in transactions, cooperation or other activities with the ministers.

The Foreign Ministry said that “certain anti-China politicians” who are “driven by self-interest” have pushed their nations to maintain diplomatic relations with Taiwan.

Beijing said the ministers had “taken a series of egregious actions and statements”, which are “damaging China’s core interests”.

Paraguay and Belize are two of 12 countries that maintain formal diplomatic relations with Taiwan.

China views Taiwan as its territory, a view the island’s government strongly rejects.

The measures come two days after Taiwan’s National Day celebration.

In a National Day speech outside the Presidential Office on Saturday, Taiwan President William Lai Ching-te said the island “cherishes peace” and will “not give up our freedom”.

China’s Taiwan Affairs Office condemned Lai’s speech, saying it “disregards facts, ⁠distorts the truth, misleads the public, and reveals ulterior motives”.

In January, Chinese President Xi Jinping pledged to achieve the “reunification” of China and Taiwan, calling the goal “unstoppable”.

Diplomatic relations

Paraguay’s Communications Minister Villate marked Taiwan’s National Day with a social media post, saying: “Paraguay reaffirms its relationship of friendship and cooperation, based on shared values and principles: the self-determination of peoples, human rights and democracy.”

The Belize embassy in Taiwan also posted a message on its Facebook celebrating the 37th anniversary of their diplomatic relations.

“Together, we look forward to a future of growth, opportunity, and lasting friendship,” the embassy wrote.

Last month, Taiwan’s Foreign Minister Lin Chia-lung visited Belize. His ministry said the two sides had agreed to deepen ties.

Taiwan’s other allies in the Americas include Guatemala and Haiti. It also has formal diplomatic ties with three Caribbean islands.

The United States does not have ⁠formal diplomatic ties with Taiwan, but Washington is bound by law to provide the island with the means to ‌defend itself.

Earlier this month, the US delivered two fighter jets to Taiwan as the island seeks to build its defence capabilities to deter a feared attack from China.