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MembersUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
The 2026 China Precious Metals Industry Work Conference was successfully held.
Release time:
02 Jul,2026
The 2026 China Precious Metals Industry Work Conference was held in Taiyuan, Shanxi Province on June 25, 2026. The event brought together leaders and experts from leading enterprises, industrial institutions and the financial sector, who held in-depth discussions on core themes including industrial statistics, policy interpretation, market trends and cutting-edge technological applications.
At the opening of the conference, President Bian Jiang, on behalf of the China Precious Metals Industry Committee (CPMIC), released the 2025 Precious Metals Recycling Data Report, offering a comprehensive review of the industry’s operational performance over the past year. According to the report, China’s platinum group metal (PGM) supply stood at 227.7 tonnes against domestic demand of 180 tonnes in 2025, resulting in a surplus of 47.7 tonnes. Recycling output hit 56.9 tonnes, representing a year-on-year surge of 45.5% and emerging as the year’s standout highlight. The report forecasts that the domestic self-sufficiency rate of PGMs will rise to 55% by 2032.
Key milestones covered in the conference briefing included the smooth maiden delivery of platinum and palladium futures, the official launch of the industry-wide statistical survey, and breakthroughs in the whitelist policy for cross-provincial hazardous waste transfer. Moving forward, CPMIC will prioritize three core tasks: standardizing the collection of spent three-way catalytic converters, building a traceability management system for recycled raw materials, and hosting the 20th China Precious Metals Industry Development Forum.
Spent three-way catalytic converters constitute the primary feedstock for recycled PGM supply chains. Du Xiaoyu, Chairperson of Shanxi Products Renewable Resources Utilization Co., Ltd., delivered a presentation introducing her firm’s operations. Endorsed with formal qualification certificates for end-of-life vehicle (ELV) recycling and dismantling, the company provides full-spectrum services covering fuel and new energy vehicle recovery, including on-site vehicle towing, residual value settlement and vehicle deregistration. It adopts standardized green dismantling processes and engages in compliant sales of reusable auto spare parts, forming an integrated circular operation model spanning ELV recycling, dismantling and auto component trading.
The launch of platinum and palladium futures and options on the Guangzhou Futures Exchange (GFEX) in November 2025 emerged as a central focal point of the conference. Guo Chenguang, Deputy Director of the Commodity Division I at GFEX, detailed the performance of the inaugural delivery cycle for platinum and palladium futures. He outlined five strategic priorities for GFEX’s future work:
- Optimize registered brand management, including ongoing approval adjustments and annual inspections for platinum and palladium futures registered brands;
- Deepen market cultivation by rolling out specialized enterprise services under the tiered outreach framework of "Learn, Test, Participate";
- Refine delivery infrastructure by expanding the network of delivery warehouses and quality inspection institutions to upgrade delivery capacity and quality;
- Enhance investor services through the "Green Transition Empowerment Initiative" to expand the depth and breadth of industrial support;
- Elevate internationalization by conducting feasibility research on classifying platinum and palladium futures as specific domestic futures products, laying institutional groundwork for admitting overseas traders to better serve the green low-carbon real economy.
During the panel themed PGM New Material R&D and Application in the 15th Five-Year Plan Period, Liu Xin, Deputy General Manager of CNOOC (Shanxi) Precious Metals Co., Ltd., stated that platinum group metals serve an irreplaceable role in China’s strategic emerging industries, with robust demand growth projected across the full hydrogen energy value chain, semiconductors, high-end electronic materials and advanced equipment manufacturing.
The hydrogen energy sector is set to become the strongest growth driver for PGM consumption during the 15th Five-Year Plan period: proton exchange membrane (PEM) electrolyzers and fuel cells will drive large-scale demand for iridium, ruthenium and platinum respectively, while palladium alloy membranes hold strategic value for ultra-high-purity hydrogen purification and tritium circulation in nuclear fusion technology. Meanwhile, driven by national policies on self-reliance in core technologies, domestic substitution of high-purity PGM sputtering targets and memory electrode materials for semiconductors is accelerating at full pace. Overall, PGMs are shifting from their traditional core application in automotive exhaust catalysis to emerging strategic sectors underpinning national energy transition and technological self-sufficiency, unlocking new growth avenues for the industry.
Liu Guoliang, Expert from the Solid Waste Management Center of the Ministry of Ecology and Environment, delivered a policy interpretation on the progress of the whitelist system for cross-provincial transfer of precious metal-bearing hazardous waste. He noted that the Ecology and Environment Code of the People’s Republic of China, adopted in March 2026 and scheduled to take effect on August 15, further clarifies the definition of solid waste utilization, strengthens full-process digital traceability supervision of industrial solid waste, and streamlines cross-provincial transfer approval procedures, cutting the official review timeline to 20 working days. For cross-provincial solid waste transfer for recycling, enterprises only need to submit relevant information to provincial ecology and environment authorities of both the origin and destination regions in advance.
As of the conference date, 19 provincial-level regions across China have established hazardous waste transfer whitelist mechanisms, drastically shortening approval cycles. Additionally, the newly revised national standard General Rule for Identification of Solid Waste (GB 34330-2025) redefines the boundary between "waste" and "used goods", as well as the distinction between by-products and side products, delivering clearer legal compliance guidelines for the precious metal recycling sector.
On the topic of Innovative Development and Application of PGM Materials, Shu Wen argued that China’s PGM industry must evolve from "the elephant in the room" to a core stakeholder at the global industry table. CPMIC has built an industry-university-research innovation ecosystem via the 2nd Global Palladium Innovation Application Competition, which features a total prize pool of USD 350,000 and covers cutting-edge fields including catalysis, new energy and electronics, driving the industry toward high-value-added development. The 2026 Palladium Future Forum is scheduled to take place in Seoul, Republic of Korea on November 19, and all industry practitioners are warmly invited to participate.
Industry experts held a roundtable dialogue to exchange forward-looking insights on multiple hot topics: the outlook for precious metals amid the AI revolution, coordinated development between the financial and industrial sectors, and applications of precious metals in hydrogen, photovoltaic and wind power industries.
The successful convening of this conference forged consensus on dual-driven development integrating industrial development and financial support through cross-sectoral, cross-industry in-depth exchanges. Moving forward, the China Precious Metals Industry Committee (CPMIC) will continue to act as a bridge linking all stakeholders, leveraging technological innovation and compliance system development as dual enablers to advance the green, high-end and international development of China’s precious metals industry.
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