OREANDA-NEWS. April 04, 2011. ICBC's first center for selling and repurchasing gold, in the West Railway Station Sub-branch of Beijing Branch, was officially opened to business. The Center is the first high-class, standard flagship store among the domestic banks in the sales, repurchase, display and trading of precious metal, reported the press-centre of ICBC.

The new Center is divided into different areas: refreshment, exhibition, transaction, sales and repurchase, offering advisory and experiential one-stop services to cater for different needs of the customers. The Center catches the attention of the market since it offers sale and repurchase services at the same time. In terms of selling, customers can buy gold at ease with the quality guaranteed by ICBC. The biggest advantage of the Center's repurchasing service is that the extended range of gold can be sold back to ICBC. Besides buying back investment gold bar of ICBC brand as before, ICBC also buys back all gold products (99% purity) or above, which includes: all gold products of ICBC brand, gold products sold by ICBC on behalf, investment-grade gold products issued by other commercial banks or gold companies, gold jewelry or accessories of 99% purity or above. The services cover all the steps for customers to buy gold for investment and sell gold for cash.

The repurchasing corner of the Center is equipped with professional testing equipment and staffs. Once your gold product passes through the test, money will be credited into your account in real-time. This offers great convenience to the customers leveraging ICBC's advantages in capital fund and settlement channel.

As related by the experts, the precious metal has two properties, a financial product as well as a commodity, "a bank never closed down". To the banks, engaging in precious metal business has inherent advantages, meaning integrated, diversified products and services can be offered to customers. ICBC, being one of the earliest banks to engage in precious metal business, leverages its strong technology, network expertise and professional staff to drive product and service innovation to better align with market demands.

ICBC establishes its market dominance by offering full range of products and first-class services to build its "Golden Brand" of precious metal services. In September 2009, ICBC was the first bank in China to set up the Precious Metal Department dedicated to the professional running of precious metal business. Since then, nearly a hundred precious metal products were launched under a product portfolio covering the physical precious metal, trading, financing and wealth management. Now ICBC is the commercial bank in the country offering the most complete range of precious metal products.