China's gold reserves have increased for 17 consecutive months; Everbright Bank's capital injection rises to 59.09 billion yuan | Financial Morning Brief

Daily Economic News Editor-in-Chief｜Zhang Yiming

| Wednesday, April 8, 2026 |

NO.1** Foreign exchange reserves down 2.5% month-on-month at end-March; gold reserves rise for the 17th consecutive month**

On April 7, data released by the State Administration of Foreign Exchange showed that as of the end of March 2026, China’s foreign exchange reserves stood at $3.34T, down $85.7 billion from the end of February, a decline of 2.5%. On the same day, the data on gold reserves showed that China’s gold reserves have increased for 17 consecutive months. As of the end of March 2026, China’s gold reserves were 74.38 million ounces, up 0.16 million ounces from 74.22 million ounces at the end of February.

Commentary: The State Administration of Foreign Exchange said that in March 2026, affected by factors such as the global macro environment, the monetary policies of major economies, and expectations, the U.S. dollar index rose and the prices of major global financial assets fell. With combined effects from factors such as exchange-rate translation and changes in asset prices, the scale of foreign exchange reserves declined during the month.

NO.2** Listed banks’ net interest margins may stabilize this year

According to The Securities Times, more than 20 A-share listed banks have disclosed their 2025 annual reports, including six large state-owned banks and nine joint-stock banks. The data show that while the industry’s net interest margin is still narrowing, the rate of decline has already slowed significantly. Management teams of multiple listed banks have sent positive signals, and it is expected that net interest margins could stabilize in 2026.

Commentary: Market participants believe that the narrowing of listed banks’ net interest margins has already slowed markedly. It is not the result of a single factor, but rather the combined outcome of multiple factors, including lower funding-side costs, easing pressure on the asset side, and gradually strengthening credit demand in emerging areas.

NO.3** China Everbright Bank increases capital to RMB 59.09 billion, an increase of about 27%

On April 7, 2026, China Everbright Bank completed its industrial and commercial registration change. Its registered capital rose from about RMB 46.68 billion to about RMB 59.09 billion, an increase of about 27%.

Commentary: The substantial increase in registered capital stems from the capital replenishment following the conversion of the company’s A-share convertible bonds. As early as August 2024, after the conversion of the convertible bonds and their delisting, China Everbright Bank submitted an application to change its registered capital to the National Financial Regulatory Administration, and in September of that year it received a regulatory approval. After going through the industrial and commercial registration process, this capital increase was officially implemented, marking the successful completion of the bank’s capital replenishment plan.

NO.4** Guangdong: Encouraging insurance companies to design tailored insurance plans for individual businesses based on different business characteristics

On April 7, the Development and Reform Commission of Guangdong Province issued the “Several Measures to Support the Development of Individual Businesses in Guangdong Province.” It mentions encouraging insurance companies to design tailored insurance plans for the needs of individual businesses with different production and operating characteristics, and to provide tailored insurance products for specific types, such as catering and lodging, as well as small and micro enterprises. It also aims to help insurance companies, for new types of employment and work arrangements arising from the platform economy, launch commercial insurance products that fit these needs and strengthen protections of rights and interests such as personal accidental injury.

Commentary: By bringing customized insurance into the support system for individual businesses, Guangdong has taken a practical step to precisely address the risk weaknesses in small and micro operations and to adapt to new forms of the platform economy—balancing warmth for people’s livelihoods with industrial value.

NO.5** International Monetary Fund: Middle East war will lead to slower economic growth and higher inflation

According to CCTV News, local time on the 6th, IMF Managing Director Kristalina Georgieva said that the war in the Middle East will lead to higher inflation and slower global economic growth. Georgieva said that if it were not for this war, expectations for economic growth could be raised slightly. But now, all signs indicate that prices are rising and economic growth is slowing. If the war continues, its impact on inflation and economic growth will be even greater.

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