Platinum bars and related products produced by the Swiss-based Metalor have been introduced into China under a partnership between the World Platinum Investment Council (WPIC) and Shenzhen Hengfu Yingjia (Hengfu), a leading Chinese distributor of precious metals products.

Under the agreement, the WPIC will work with Hengfu 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; among them are high purity .9995 fine platinum bars.

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Available in sizes of 10 grams, 15 grams, and 100 grams, 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, according to the WPIC.

The partnership was struck to between the WPIC and Hengfu to develop the physical platinum investment market in South China.

“While China has long been the world’s biggest consumer of platinum, its platinum investment infrastructure has yet to be fully developed," says Weibin Deng, head of the China division at WPIC. "We see a huge opportunity and appetite to open up platinum investment opportunities in China. This new platinum bar product represents an important milestone for the market. It addresses a clear gap for spot investment, and more broadly supports platinum’s growth potential as a retail investment medium. We look forward to working closely with Hengfu to continue expanding the range of platinum investment products available to local investors,” Deng said, adding, “This is the first of a number of platinum product initiatives for Chinese investors that we expect to be able to announce in the near future.”

Shenzhen Hengfu Yingjia’s CEO Zhu Zhigang says,  “This partnership will further strengthen China’s position as Asia’s precious metals hub and the continued development of platinum investment in the region.” His company comprises mining, production and both industrial and investment sales, as well as buyback and refining, and produces a comprehensive range of precious metals products.

The WPIC has been consulting with a number of local market authorities and potential partners in China as it establishes what it terms a “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 two to three years.

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