Chinese Gold Panda coins were officially listed on the Shanghai Gold Exchange (SGE) on Wednesday, making them the only gold coin product in the world to be traded on an exchange market.
First issued by the People’s Republic of China in 1982, the Chinese Gold Panda is a series of gold bullion coins featuring a variety of panda portraits. The coins are normally released, in different sizes and bearing different designs, every year.
The coins listed on the SGE this year have a standard weight of 30 grams and a fineness of 99.9 percent. They are also said to be available for all qualified personal and institutional clients.
The first transaction was for 278.8 yuan/g on Wednesday morning, according to thepaper.cn.
SGE announced that the listing is a major reform in China’s precious metal commemorative coin business, in terms of its distribution, management and trading methods. It went on to say that the move constitutes a significant platform for the creation of a trading platform characterized by authorization and fairness.
It is reported that the decision will facilitate public investment and help connect China’s gold market to its gold coin market, thereby boosting joint prosperity.