The World Platinum Investment Council (WPIC) and Shenzhen Hengfu Yingjia (Hengfu), a leader in precious metals products, today announced the launch of the first platinum bar products in China. The launch is part of a new strategic partnership between the WPIC and Hengfu to develop the physical platinum investment market in South China.
Under the agreement, the WPIC will work with Shenzhen Hengfu Yingjia to develop and launch a range of platinum investment products to suit a wide range of investor needs. A number of new products will be launched throughout 2018, beginning now with high purity 999.5 platinum bars.
The investment-grade platinum bars are minted by Swiss Metalor Group, an internationally renowned precious metal refiner. Available in sizes of 10g, 15g, and 100g, the bars are currently sold at a low premium through Shenzhen Hengfu Yingjia’s distribution network in Shenzhen and Guangzhou. This will initially be through Hengfu’s own outlets and some department stores, with online availability to follow shortly.
The announcement is the latest in a series of strategic initiatives from WPIC to stimulate further investor demand for physical platinum and increase the number and type of platinum investment opportunities available worldwide. The WPIC has been consulting with a number of local market authorities and potential partners in China as it establishes a comprehensive pipeline of initiatives for the Chinese market. Early indications from research by the WPIC are that incremental annual demand for platinum bar and other investment products could be in the hundreds of thousands of ounces in 2-3 years.
The partnership with Hengfu was first announced at the 2018 China Platinum Market Forum in Shenzhen, China on July 5, 2018, in front of more than 100 government leaders, industry executives, and media representatives. The event, which was co-sponsored by the WPIC and Hengfu, focused on the development opportunities for China’s platinum market.