SHANGHAI -- China's Ping An Insurance said Friday that bonds will continue to be a "core allocation" of its investment portfolio, even as the Chinese central bank steps up efforts to cool a buying frenzy.
According to the group's financial statement released on Thursday, bond investments stood at 3.158 trillion yuan ($442.4 billion) as of June, accounting for 60.7% of its insurance fund investments. The figure increased by 414 billion yuan, or 2.6 percentage points, from December. In comparison, allocations for stocks rose by 0.2 percentage point to 6.4%, while equity funds fell by 1 percentage point to 2.1%.
