China gives platinum major boost with launch of PGMs centre in Shanghai

China gives platinum major boost with launch of PGMs centre in Shanghai: In what is a major boost for platinum group metals (PGMs), a new trade and technology centre dedicated to the growth of the PGMs market is being established in China, already the single largest consumer of PGMs, accounting for more than 25%  of total demand. Anglo American, Honeywell and the World Platinum Investment Council (WPIC) were among close to 70 organisations that signed strategic cooperation agreements with the Lin-Gang Group and other related parties in support of the Platinum and Precious Metals Centre or PPMC, which is being established in the Lin-Gang Special Area of Shanghai. The Lin-Gang Group is a state-owned developer of industrial parks.