Cambodia is reportedly poised to become one of the first nations to store a portion of its newly acquired gold reserves in China, marking a significant step in Beijing’s strategy to establish itself as a global gold custody hub.
This move, detailed in a Business Times report published on November 7, 2025, signals China’s ambition to diminish global reliance on Western financial systems. The Cambodian gold will be held in vaults registered with the Shanghai Gold Exchange, located within the Shenzhen Free Trade Zone.
Citing close sources, the report indicates that the gold deposited by Cambodia represents new purchases, rather than a relocation of its existing reserves. This action aligns with China’s broader objective to create a global financial infrastructure less dependent on the U.S. dollar and traditional Western centers like London.
Several other countries have also reportedly expressed interest in depositing gold in China. This diversification aims to reduce their reliance on established gold custody hubs.
According to data from the World Gold Council, Cambodia currently holds approximately 54 metric tons of gold reserves. This figure represents about one-quarter of the nation’s $26 billion in foreign exchange reserves.
In October, Chea Serey, Governor of the National Bank of Cambodia, stated that authorities were considering various global locations for storing the country’s gold. She did not, however, specify whether China was among the potential options.
Neither the National Bank of Cambodia nor the People’s Bank of China has publicly commented on the Business Times report.