With China’s plan to have only low-carbon energy sources by 2030 and to achieve carbon neutrality by 2060, its demand for platinum-group metals (PGMs) is likely to continue growing.

The country also has plans to grow its hydrogen fuel cell electric vehicle (FCEV) fleet, with initiatives aimed at developing the entire hydrogen value chain, including refuelling infrastructure, rather than just offering subsidies on sales.

The Chinese government wishes to see cumulative sales of FCEVs reach one-million by 2035.

China is currently the world’s largest consumer market for PGMs, accounting for more than 30% of global demand.

PGMs have unique catalytic properties and are used in proton exchange membrane (PEM) technologies and, therefore, momentum behind PEM investment in China is building, says the World Platinum Investment Council (WPIC).

For example, sustainable technologies company Johnson Matthey has expanded its fuel cell operations into China, with a high-tech facility to manufacture critical components for customers in the region.

It is also working with chemicals company Sinopec to advance green and blue hydrogen, fuel cells and decarbonisation technologies in China. 

Another example of booming PEM investment in the country is Umicore, a circular materials technology company, which is investing in a large-scale fuel cell catalyst plant in Changshu. The plant will help drive the country’s accelerated transformation to hydrogen-based mobility.

The first mass-produced hydrogen FCEV sedan, the Changan SL03, has undergone test work and will be launched to the market later this year.

Another development in China is that of the joint venture between chemicals companies BASF and Heraeus to recover precious metals from spent automotive catalysts and enable a more sustainable circular economy.

The recovered PGMs will be used to make new products for the automotive, chemical, electronics and green hydrogen industries.

Meanwhile, China last year launched the Shanghai Platinum Week (SPW) event to facilitate international communication and collaboration in the PGMs market and related technologies, investments and business.

The WPIC, as a co-organiser of the event alongside Precious Metal Industrial Committee at the China Material Recycle Association and the Platinum Committee at China Gold Association, says the event will be held from September 4 to 9.

It is being hosted virtually, with translation services to be provided where necessary, but delegates living in China can also attend in person. 

The WPIC confirms that SPW is free to attend and can be accessed through the SPW 2022 app, which is available on Android and iOS devices.

Interested delegates can register to attend the event at https://www.shanghaiplatinumweek.com/#/events/index2022.