Investment demand for platinum in China goes from strength-to-strength

China Gold Coin Group (CGCG) has made history by debuting its first-ever large-size platinum investment bar during a ceremony at the Beijing International Coin Exposition 2024. The 1kg bar, made of 99.95 per cent pure platinum, carries a specially-commissioned design inspired by the ‘Fish Transforming into a Dragon’ legend which is renowned in China.
The launch of the Fish-to-Dragon 1kg platinum investment bar comes at a time of significant growth in demand for platinum bars and coins from investors in China. Demand increased from 31 koz in 2019 to 186 koz in 2023 and is forecast to grow by a further 34 per cent year-on-year to 250 koz in 2024. Purchases of larger bullion bars, of 500g or above, are a key driver of this growth.
Weibin Deng, Regional Head of Asia Pacific, World Platinum Investment Council (WPIC), said: “China is transforming into one of the most important investment markets for platinum bars and coins. The WPIC and our partners in China are unlocking the potential here, after improving the supply chain and increasing awareness of platinum investment, resulting in unprecedented growth in physical investment demand. We thank the management at CGCG for sharing our confidence in the potential of the platinum market and for having the vision to produce the first 1kg platinum investment bar in their business’s history.”  
Trevor Raymond, WPIC’s Chief Executive Officer, added: “Our market development activities worldwide, including the annual Shanghai Platinum Week, have been instrumental in achieving significant growth in investment demand. I am delighted to see investor choice further enhanced by the arrival of the Fish-to-Dragon bar. More broadly, this landmark occasion underscores how platinum’s appeal as an investment asset is increasingly recognised by Chinese investors.”