Equinox Gold increases production as China expands gold reserves

Equinox Gold has reported a 34% increase in quarterly production and has successfully reduced its debt by approximately $1.2 billion since the beginning of the year.

In a broader market context, China continues to expand its gold reserves as a strategic measure. According to the World Gold Council, the Chinese central bank increased its reserves by 23 tons in September, marking its 23rd consecutive monthly increase. China's gold imports exceeded 1,000 tons in the first eight months of 2026, costing roughly $158.8 billion. This follows a government action plan for the gold industry spanning 2025 to 2027, aimed at ensuring supply security and increasing gold resources by 5% to 10%.

Concurrently, China's holdings of US Treasury bonds have declined. US Treasury Department data indicates that as of July, China held $618 billion in US Treasuries, the lowest level since August 2008 and approximately 53% below its peak in November 2013.