In response to fluctuations of gold, silver and other precious metals over the last two years, Industrial and Commercial Bank of China (“ICBC”) has stepped up innovations in products and services to provide customers with asset allocation and risk-hedging services, which maintained sound development in precious metal business. By the end of 2015, ICBC served more than 29 million customers with precious metal business, up by 20% compared with the beginning of the year. The full-year trade amounted to around RMB1.3 trillion, representing a market-leading year-on-year increase of 21%.

According to an official with ICBC, to meet corporate and personal demand for investment in precious metal and related financial products to hedge risks, ICBC has developed diversified and marketable products and services by leveraging its leading expertise in precious metal business in China. So far, ICBC has been named the “Best Precious Metal Trading Bank in China” by Euromoney for four straight years and the “Precious Metal Trading Bank of the Year in China” by the Financial Times for two straight years.

In physical precious metals, by combining local cultural characteristics, ICBC released branded products (such as Precious Metal Souvenir for World Table Tennis Championships, Auspicious Zen, Colorful Yunnan and Blessing Gold) and investment products (such as Commemorative Coin for 70th Anniversary of the Victory of China’s War of Resistance against Japanese Aggression, Panda Gold/Silver Coin and Commemorative Coin for Zodiac). In terms of precious metal transactions, account-based precious metal products and agency services of gold exchange have catered to the needs of customers for investment and trade under different market conditions. As the largest transaction agent and clearing bank of Shanghai Gold Exchange, the trade through ICBC approximates 140,000 tons annually. In addition, ICBC meets customers’ online needs for purchase of precious metals through e-Buy, its e-commerce platform. The sales of the “ICBC Gold Expert” flagship store on e-Buy saw a fourfold-plus year-on-year rise.ICBC provides 24-hour non-stop precious metal services through its global network. By innovating business in free trade zones such as Shanghai and Qianhai, ICBC has further strengthened its offshore financial service capability in precious metals.