China gold bars to mark year of the pig

CHINA Gold Coin Corporation (CGCC) has issued a series of investment-grade gold bars made from 99.99 per cent gold to mark the next Chinese New Year on February 18, 2007, according to reports.

The company expects the ‘Year of the Pig’ to boost gold sales as it is the last year in the 12-year rotation of the Chinese lunar calendar, which is considered auspicious. The total volume of gold bars being issued in China this year is 3 tonnes.

The gold bars will be priced at Yuan 175 ($22.2) per gm, and will first go on sale to the public in the capital, Beijing. They will be available in sizes ranging from 1,000 gm to 50 gm. China first issued gold bars to commemorate the New Year in 2002.