Managing the national gold reserve is the legal duty of the People's Bank of China. The national gold reserve should be placed in the issuing bank of the People's Bank of China. Of course, due to management and policy needs, the People's Bank of China can be placed in other safer places. For example, China has 600 tons of gold reserves, which are directly placed in the Treasury of the Federal Reserve. Of course, this is only a part of China's gold reserves.

The People's Bank of China Law of the People's Republic of China;

Article 4 The People's Bank of China shall perform the following duties:

(7) Holding, managing and operating the national foreign exchange reserves and gold reserves; ……