Maybe it is the gold they take in part of Venezuela..?

In November, China set a record for gold imports from Russia, purchasing the metal worth $961 million. This is the largest deal in the history of bilateral gold trade, according to media reports, citing data from Chinese customs.

In the first 11 months of 2025, China imported Russian gold worth a total of $1.9 billion, which is almost nine times more compared to the same period last year.