CHINA TO START PILOT SCHEME FOR INSURERS TO INVEST IN GOLD

Source: http://Caijing.com.cn

On February 7, the State Administration for Financial Supervision and Administration issued the Notice on the Pilot of Insurance Fund Investment Gold Business.

According to the Notice, in order to broaden the channels for the use of insurance funds, optimize the structure of insurance asset allocation, and promote insurance companies to improve the level of asset and liability management, the State Administration of Financial Supervision issued the Notice on the Pilot of Insurance Fund Investment Gold Business (hereinafter referred to as the Notice) to carry out insurance from the date of issuance of the Notice. Risk capital investment gold business pilot.

The Notice mainly puts forward clear requirements from the three aspects of pilot content, pilot requirements and supervision and management. In terms of the pilot content, the Notice defines the business scope and investment method of the pilot investment in gold, and identifies 10 pilot insurance companies. In terms of pilot requirements, the Notice regulates the pre-event management of the pilot insurance company's investment in gold. In terms of supervision and management, the Notice clarifies the regular reporting, temporary reporting mechanism and relevant supervision and management requirements for pilot operations.

According to the content of the Notice, the scope of the pilot investment in gold is the gold spot contract listed or traded on the main board of the Shanghai Gold Exchange, the gold spot deferred payment contract, the Shanghai gold centralized pricing contract, the gold inquiry spot contract, the gold inquiry swap contract and the gold rental business.

The pilot participants include: China People's Property Insurance Co., Ltd., China Life Insurance Co., Ltd., Taiping Life Insurance Co., Ltd., China Export Credit Insurance Company, China Ping An Property Insurance Co., Ltd., China Ping An Life Insurance Co., Ltd., China Pacific Property Insurance Co., Ltd. Co., Ltd., China Pacific Life Insurance Co., Ltd., Taikang Life Insurance Co., Ltd., Xinhua Life Insurance Co., Ltd.

China’s top insurers can now put 1% of their assets into #gold

China’s insurance industry is valued at $4.3T… unlocking ~$43B for gold

GLD update: Custodian JPM added 4 tons, bringing their total to a new all time high of 887 tons.

JPM has added 50 tons in a month, and is 163 tons from surpassing Switzerland to become the 7th largest gold holder in the world.

Objectif 3611 $/oz ...en vue


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