China’s PBOC Ships Gold to Hong Kong for Global Hub - SilverTrade
China’s PBOC Ships Gold to Hong Kong for Global Hub - SilverTrade
Source: SilverTrade
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DW NOTE
The PBOC is routing physical gold through Hong Kong rather than Shanghai or domestic vaults. That tells you Beijing wants fungible, internationally tradeable bars — the kind counterparties will accept if China needs to settle cross-border obligations outside the dollar system. Central banks don't build offshore stockpiles for diversification. They build them for contingency.