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China starts pilot project allowing insurers to invest in gold
From Reuters
via The Business Times, Singapore
Friday, February 7, 2025
China, the world's biggest bullion consumer, will allow some of its insurance funds to buy gold for medium- and long-term asset allocations as part of a pilot project, the country's financial regulator said today.
The project should broaden institutional demand and may provide support to gold prices in China in the longer term depending on insurance funds' appetite for participating in it, according to analysts.
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The 10 pilot participants include China Life Insurance, New China Life Insurance, and several subsidiaries of Ping An, the National Financial Regulatory Administration said in a notice.
"It will certainly be positive in terms of fresh demand. What we don't know is how much they would want, of course," said StoneX analyst Rhona O’Connell. ...
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