New development of MCC market direction

Discussion in 'Modern Chinese Coins & Medallions' started by andrewlee10, May 2, 2018.

  1. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    On April 26, 2018, the General Committee of the China Association of Interbank Market Dealers, Gold Coin Market Professional Committee held the Commissioner and Secretary General Meeting in Xiamen. The Deputy General Manager of China Gold Coin Corporation conveyed coming minting direction of the 2018 : Adhering to reform and innovation and actively conserving the market, market-oriented program, focusing on the gold and silver coins businesses by maintaining the market, boosting confidence, regulating the management of derivatives (i.e non fiat coin, decoration items and others) and creating a good precious metals coin ecology.

    Specific measures include:

    1. The total issuance volume @ mintage will decrease around 10%.

    2, Business direction will focus on boosting market confidence instead of instilling high premium charges which lead to higher profit.

    3. The ultimate holding of minting body head office deemphasis on profit evaluation index of the subsidiaries. The measurement and the assessment of subsidiaries focus on the quality assessment index instead of profit index.

    4. Establish an after-sales service department lead by Zhongjin Guoheng.

    5. To clarify the balance between franchisees and banks sales channel to strengthen market management.

    6. Panda gold coins will be listing on the Shanghai Gold Exchange to increase liquidity.

    7. Sample and Prototype coin review will invite market participants and speed up the announcement of the coin artwork.

    8. Invest heavily in new media for promotion of coins.

    Secretary-General Liu Hong presided over the meeting to discuss the situation of the gold and silver coin market and the countermeasures. All the members actively made suggestions and put forward many constructive opinions as below :-


    1. Perfection of any projects by building the authority and seriousness of the issuance of gold and silver coins.


    2. Control the distribution channels and sales networks and reasonably determine the planned mintage


    3. Reasonably the premium charge and leaving some margin for the market (i.e sales network to end customers)


    4. Value the primary market information feedback and innovate the control measures accordingly


    5. Straighten the sales distribution channel and network of direct sales, appointed agents and banks by strictly managing them in an unified manner.


    6. Use the power of professional media and new media to vigorously promote the numismatic culture.


    7. Destroy individual poor performance varieties to boost market confidence.


    8. Cancellation of the issuance limit price and cancellation of the comprehensive performance evaluation system which is inadequate under the current market environment.


    9. Establish of commemorative coins trading platform to increase the liquidity of coins.
     
  2. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    Finally, on these proposals, Mr. Zhai made a concluding speech by stating:-

    1. The actual mintage can be reduce to 50% of the announced planned mintage.

    2. The top-level design is under study and will be implemented in 2019.

    3. Make great efforts in marketing especially to take advantage of new media and professional media.

    4. It is necessary to maintain the ecology of gold & silver coins to benefit the Sales channels and consumers.

    5. The management issues between the bank and appointed channels will discuss and formulate a formal management plan by the mint head office in near future.
     
  3. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    Is that good news or bad news ?

    What is the market development and indication in future?
     
  4. barsenault

    barsenault Well-Known Member

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    Thanks for sharing the info AndrewLee. Not sure what all this means, but it sounds like the Chinese are taking great steps forward to maintain the integrity of their gold and silver coins. I wonder if this relates to coins and medals, or just coins. Regardless, bravo to them for focusing on doing an even better job.
     

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