Re <<perspective from ... >>
was sent this, perhaps the perspective from People's Bank of China
perhaps gold bullish
unsure where all the excess dollars went into
certainly not Euro, doubtful Yen, CAD, AUD
the redeployment of forex stockpile could not have gone into Ruble
In the meantime the continuing current / capital net net is more or less in balance
Unclear to me what gold import would be counted as, as gold is both a good as well as a capital
gold is arguably a reserve asset but I do not know fore sure-sure
And, no, official gold imports YTD does not come anywhere near the plug number to make numbers explainable by non-banker such be me
A true puzzle (the chart was sent to me and not a part of the below linked material verbiage)
safe.gov.cn
In SDR terms, in the second quarter of 2023, China posted a surplus of SDR 48.2 billion under the current account, and a deficit of SDR 37.6 billion under the capital and financial accounts. In SDR terms, in first half of 2023, China posted a surplus of SDR 109.0 billion under the current account, and a deficit of SDR 94.5 billion under the capital and financial accounts. In the US dollar terms, in the second quarter of 2023, China's current account recorded a surplus of USD 64.7 billion, including a surplus of USD 163.3 billion under trade in goods, a deficit of USD 55.0billion under trade in services, a deficit of USD 46.7 billion under primary income, and a surplus of USD 3.1 billion under secondary income. The capital and financial accounts recorded a deficit of USD 50.4billion, including a deficit of USD 84 million under the capital account, a deficit of USD 34.1 billion under the financial account (excluding reserve assets), and an increase of USD 16.3 billion under reserves assets. In the US dollar terms, in the first half of 2023, China's current account recorded a surplus of USD 146.3 billion, including a surplus of USD 293.2 billion under trade in goods, a deficit of USD 102.2 billion under trade in services, a deficit of USD 53.3 billion under primary income, and a surplus of USD 8.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 126.7billion, including a deficit of USD 77 million under the capital account, a deficit of USD 84.9 billion under the financial account (excluding reserve assets), and an increase of USD 41.7 billion under reserves assets. 
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