The World Platinum Investment Council in partnership with CNOOC Taiyuan Precious Metal has developed a suite of platinum investment products for retail investors.
The suite of investment products are available on the Industrial and Commercial Bank of China eCommerce platform Rong E Gou.
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 10 g to 500 g, manufactured by Swiss refiner Metalor in China.
The products are 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.
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 its' 10-year low price to develop a unique investment opportunity for retail investors.
World Platinum Investment Council (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 the commodity as an investment asset.
“This partnership with WPIC has been an immeasurable help in the launch of our first suite of investment products," comments Yongqiang Han, MD of CNOOC Taiyuan.
"Their extensive knowledge of the precious metal and expansive network has enabled us to develop world class products and promote it as an exciting opportunity for retail investors in China," Han continues.
“This partnership with CNOOC Taiyun represents a fantastic opportunity to promote platinum as a major investment for Chinese retail investors," notes Weibin Deng, head of China at WPIC.
"CNOOC Taiyuan's 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 investment products represents an exciting step in making platinum investment accessible to a broad audience," Deng adds.