China will allow insurance funds to buy gold for medium and long-term asset allocations
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China will allow insurance funds to buy gold for medium and long-term asset allocations as part of a pilot project, the country's financial regulator said on Friday.
The pilot participants, 10 in total, include China Life Insurance, New China Life Insurance and several subsidiaries of Ping An, China's National Financial Regulatory Administration said in a notice.
(Reporting by Xiuhao Chen and Lewis Jackson. Editing by Mark Potter)
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