Chinese officials float plan to streamline Gold import/export rules

According to a report published over the weekend, Chinese officials are considering an overhaul to the country’s gold import/export regulations to “streamline administration, facilitate trade, and improve the management of gold carried across the border by individuals.”

Under the current import/export framework, officials from the General Administration of Customs and the People’s Bank of China “jointly formulate rules for individuals carrying or mailing gold and gold products across the border.” The new plan would apparently end the Chinese central bank’s involvement in gold import/export rulemaking while “such cross-border movements will remain subject to customs supervision.”

According to the report, the new import/export regime was “jointly formulated with the General Administration of Customs to update the existing regulatory framework in line with evolving economic conditions, legal requirements and policy adjustments.”

The report didn’t detail the new regulations, but it appears the aim is to make gold imports and exports more streamlined and convenient for individuals and businesses. According to the report, “The revisions also seek to improve convenience for businesses and the public by formalizing measures that have proven effective in practice.”

“In addition, the draft would strengthen ex-ante supervision by clarifying the scope of customs oversight, enhancing supervision of foreign trade companies acting as agents, and improving the penalty framework for violations, according to the central bank.”

Generally speaking, fewer hands in the regulatory pie mean a lighter regulatory burden, and many observers believe the new framework will at least modestly streamline the gold import/export process.

Chinese investment demand was a significant driver during the bull market last year, and gold continued to flow into the country through the early months of 2026.

In May, Chinese gold imports hit a 2-year high. Of 163 tonnes. That pushed year-to-date gold imports to 692 tonnes, a 76 percent increase over the same period last year.

World Gold Council Ray Jia said, “The positive local gold price spread remained a key factor in encouraging imports.”

Chinese buying helped push gold bar and coin demand to a 12-year high of 1,374.1 tonnes last year. In value terms, global bar and coin demand was a record-breaking $154 billion.

More than half of last year’s global coin and bar demand came from two countries – China and India.

The surge in Asian investment demand helped drive prices to record levels in January. It has since cooled as inflation fears and higher interest rate expectations have created headwinds for the gold market. The Shanghai Gold Benchmark Price dropped 2.7 percent last month, as yuan strength exacerbated the general downward trend in gold prices.

Chinese gold ETFs reported outflows of metal for the first time since August 2025 last month, but there still appears to be a strong appetite for physical gold. Guangzhou Southern Gold Market Academy research analyst Song Jiangzhen told Bloomberg that demand for physical bullion bars and inflows of metal into gold accumulation plans are supporting demand. Accumulation plans, such as Money Metals' monthly purchase plan, allow investors to buy gold incrementally through regular monthly payments.

Looking ahead, Jia said that seasonal factors should continue to support the Chinese gold market as jewelers restock after the holiday season.

“The lower gold price may help boost these re-stocking activities, although jewelers may sit on the sidelines if the price weakness accelerates.”

However, Jia said bullion buying could slow if the price continues to slide.