China's gold panda coins made an official listing on the Shanghai Gold Exchange (SGE) on Wednesday, reports the China News Service.
A ceremony is held to mark the official listing of China's Panda Gold Coin on the Shanghai Gold Exchange (SGE) on Wednesday, September 12, 2018. (Photo: Xinmin Evening News)
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 normally come in different designs and sizes every year.
Coins listed on the SGE this time have a standard weight of 30 grams and a fineness of 99.9%, and are said to be available for all qualified personal and institutional clients.
The first transaction was sold at the price of 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, while constituting a significant measure for the creation of a trading platform characterized by authorization and fairness.
It is reported that the move will help facilitate public investment, and will contribute to connecting products of China's gold market to its gold coin market to boost joint prosperity.