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.”
“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.”
CGCG is a state-owned entity that plans and co-ordinates domestic demand for investment metals in consultation with the Chinese central bank. It is responsible for the issuance of the iconic Panda coin, reintroducing platinum to the series with effect from the 2022 mintage. Last year, CGCG included a 15g platinum coin in its Zodiac series and earlier this year CGCG produced 10g and 100g platinum bars as part of its Year of the Dragon range.
CGCG’s Fish-to-Dragon 1kg platinum investment bar features an artwork created by Professor Chen Nan of the Academy of Arts & Design at Tsinghua University which celebrates China’s rich cultural heritage. In the artwork, the dragon is skillfully composed of nine, pictographic ‘fish’ characters in oracle bone script that transform into a mighty dragon. Oracle bone script is the earliest known form of Chinese writing dating back to the Shang Dynasty in the 1400s BC.
The design symbolises the concept of self-transcendence and advancing toward life's victories. What is more, it conveys a compelling message on the improving fundamentals of the platinum market and the ascendant potential of investment.
The Fish-to-Dragon bar will be distributed exclusively by Shenzhen China Gold Coin Distribution Co. Ltd (SCGCD).
Commenting on the decision to produce a large-size 1kg platinum investment bar, Mr. Yin Xianmin, Executive Director, SCGCD, said:
“The growing interest in platinum as an investment product presents an exciting opportunity for us, and we have added our first 1kg platinum investment bar to our range of platinum bar and coin products in response to investor demand. We believe that there is significant development potential for this segment of the bar and coin market.”
