The gold imports during July-March (2020-21) were recorded at $5.947 million as compared to the imports of $11.459 million during July-March (2019-20).
Net gold imports via Hong Kong to China, the world's top consumer of the metal, fell 0.2% to 4.192 tonnes in February, compared with 4.2 tonnes in January, the data showed.
"Import is still restricted. There were no quotas issued by People's Bank of China (PBOC) in February," Bernard Sin, Regional Director, Greater China at MKS Switzerland, said.
The gold imports into the country during July-February (2020-21) were recorded at $5.310 million as compared to the imports of $11.190 million during July-February (2019-20).
Gold prices in the top consumer of the metal, flipped back into a discount - a situation that prevailed for most of 2020 as the pandemic curbed demand - in the week to Jan. 29.
Net gold imports via Hong Kong to China stood at 4.2 tonnes in January compared with 5.6 tonnes in December, while they were down 55% on an annual basis.
"We will see a sharp rise in investment demand. Amid low interest rates and higher stock prices, people are looking at gold to diversify their investments," he added.