In 2017, WPIC entered China, platinum’s second-largest market in terms of consumption, aiming to develop an investment market for platinum. We adopted a comprehensive strategy for market development. First, we addressed the lack of relevant market information by providing high-quality platinum market content and insights for Chinese investors. WPIC disseminates its market research in Chinese to investors via social media (Wechat, Weibo, Tik-Tok and Bilibili), internet media and traditional media.

Second, we concluded strategic partnership agreements with domestic industrial bodies, including China Gold Association and Beijing Gold Economy Development Research Centre. These partnerships have helped WPIC to better understand and emulate the success of China’s gold investment market and consolidate resources to assist our mission in China. We successfully added platinum into the key events for gold and precious metals in China and increased the visibility and investment awareness of platinum among domestic gold investors.

Finally, over last three years, WPIC has established product partnerships with domestic organisations, including Bank of China (BOC), Chunghai Platinum, Zijin Gold, Jingxin Gold and LPM Group. We assisted Chunghai and Jingxin to fabricate and launch the first platinum bars in China for retail investors, and offered ongoing support for their respective marketing and promotional activities. BOC is one of the few Chinese banks that already offer physically backed platinum trading accounts, as well as gold and silver products, to investors. WPIC stepped in to help by providing platinum content for its investor education initiatives and by supporting its marketing efforts. So far, we have trained more than 3,000 bankers across China and equipped them with platinum knowledge and risk management skills. The marketing impact we have had on BOC’s platinum business is unprecedented in terms of the increases seen in both trading volume and the amount of physical platinum held.

WPIC’s recent Platinum Group Metals summit in Suzhou, China, focused on the strategic importance and value of PGMs, particularly platinum, in new energy and new material, amid the fast-growing hydrogen economy and fuel cell vehicle industry. Despite the pandemic, the summit attracted more than 400 attendees, along with 17,000 delegates globally who joined virtually. The market potential for platinum investment in China is huge, reflected by the success of gold, but its market infrastructure, particularly for trading, is still underdeveloped. To this end, WPIC has actively been working with domestic organisations on improving the market infrastructure and jointly develop a market ecosystem for platinum investment.

Japan is the most mature market for platinum bars and coins, with active two-way trade a feature for over 70 years. It also experienced unprecedented demand for platinum bars and coins in 2020. WPIC has two product partners in the country: Tanaka and Mitsubishi UFJ Trust and Banking, and provides support to their respective platinum products, accumulation plans and a physically backed platinum ETF. We have also partnered the Japan Bullion Market Association (JBMA) to increase the awareness and ownership of platinum by distributing our research and insights in the Japanese language, which has also raised the organisation’s profile among Japanese institutional and retail investors.

In November 2020, ABC Bullion, Australasia’s largest independent bullion dealer, partnered with WPIC and launched the first Australian platinum minted bar range to meet the growing demand. This is the latest development indicating a strong potential for platinum investment in the Asia Pacific region. WPIC is keen to work with more partners and bring this unique metal to investors in Asia Pacific at a time of unprecedented levels of investor interest around the globe.