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World Platinum Investment Council partners with China’s CNOOC Taiyuan to offer platinum investment products to retail investors via ICBC E-commerce platform

London, 11 October 2018

The World Platinum Investment Council (WPIC) today announces its latest strategic partnership in China with CNOOC Taiyuan Precious Metal Co., Ltd (CNOOC Taiyun).

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“This partnership with WPIC has been an immeasurable help in the launch of our first suite of platinum investment products. Their extensive knowledge of platinum and expansive network has enabled us to develop world class products and promote platinum as an exciting opportunity for retail investors in China.”

Yongqiang, Han, Managing Director of CNOOC Taiyuan

“This partnership with CNOOC Taiyun represents a fantastic opportunity to promote platinum as a major investment for Chinese retail investors. CNOOC Taiyuan has a professional team and extensive knowledge in the platinum market. Their involvement in the platinum investment market suggests Chinese institutions are attracted by the value of platinum and believe in its business potential. The launch of these platinum investment products represents an exciting step in making platinum investment accessible to a broad audience.”

Weibin Deng, Head of China at the World Platinum Investment Council

As part of this new partnership, CNOOC Taiyuan has developed a suite of platinum investment products for retail investors, which are available today on the Industrial and Commercial Bank of China (ICBC) eCommerce platform Rong E Gou (“Easy E Shop”).

CNOOC Taiyuan is a wholly owned subsidiary of the China National Offshore Oil Corporation Group, a major oil and gas conglomerate in China. The corporation has 25 years’ experience in the industrial application of platinum, and its platinum industrial catalyst products represent 50% of market share in China. Based on their deep knowledge of the qualities of platinum and its necessity in a wide range of industrial uses, CNOOC Taiyuan identified the opportunity to leverage platinum’s 10-year low price to develop a unique investment opportunity for retail investors.

CNOOC Taiyuan partnered with the WPIC to support the development of its platinum investment products. WPIC has been involved in the whole development process, including advising on the production, manufacturing and marketing of the products, as well as the development of educational content about platinum as an investment asset.

The products are initially available on ICBC’s eCommerce platform Rong E Gou (“Easy E Shop”). The platform sells a wide range of investment products, and is a leading eCommerce site in China. It has over 100 million registered members in 2018 and more than 4 million users per month. The products will also soon be available on other online platforms and in offline outlets.

The first set of products for investment are bars ranging from 10g to 500g, manufactured by Swiss refiner Metalor in China. The products are 999.5 (99.95% pure) and consistent with international standards for trading in global markets. More products are expected to be introduced to the market at a later stage.

For any media requests, please contact:

Simren Priestley
CNC Communications

+44 (0)203 7551 670
[email protected]