On November 24, CCB in Shanghai launched its latest physical gold product - Longdingjin gold bar which is the first of its kind in China with brand owned independently by a commercial bank. The bullion will be available in other major Chinese cities in succession. The 99.99 percent pure gold bar has four categories, weighing 50, 100, 200 and 500 grams. It is another innovation and breakthrough of CCB following its “gold account transaction” business.

Different from other physical gold products sold by commercial banks on an agent basis, CCB’s Longdingjin gold bar is the first physical gold product with brand independently owned by a commercial bank in China, and at the same time, the product quality is guaranteed by the sound reputation of a state-owned commercial bank which is among the first group of state-owned commercial banks getting transformed and listed successfully.

Longdingjin gold bar is designed by CCB exclusively. The bank entrusts a gold company which holds the standard gold supply certificate of Shanghai Gold Exchange to forge the bullion. With exquisite shape and perfect workmanship, the product has high value of investment, collection and as gift. CCB designs the products in four categories weighing from 50 to 100 grams to meet diversified customer needs. In addition to selling the bullion, CCB will offer buybacks of Longdingjin gold bar in its original condition, helping investors cash the gold bar and benefit from gold price rise. The quoted price of Longdingjin gold bar fluctuates on a daily basis based on the international gold market price. Investors can gain profits from price fluctuation and enjoy an exciting investment experience. Since CCB entrusts the processing of and sells the gold bar independently, a number of middle links of circulation are cut down and hence the price of the product will have competitive advantage compared with other similar products. CCB also provides one-stop services including custody and business consulting, which ensures that the gold-owners enjoy golden services.