Hong Kong Exchanges and Clearing Limited (HKEX) announces the first Exchange Traded Funds (ETFs) listings in Hong Kong and Shanghai under the new Hong Kong-Mainland ETF Cross-listing Scheme announced in 2020.
HKEX Chief Executive Officer Nicolas Aguzin said:
“We warmly welcome these two new ETFs to the market today, with one listed on HKEX and another on the Shanghai Stock Exchange (SSE). These listings mark an important step forward in the development of cross-border ETFs, and deepen the collaboration between Hong Kong and Mainland exchanges.”
The new ETF listed today in Hong Kong – CSOP Huatai-PineBridge CSI Photovoltaic Industry ETF (Stock code: 3134) – has been approved by the Securities and Futures Commission. Through the Renminbi Qualified Foreign Institutional Investor (RQFII) status, the ETF invests 90 per cent or more of its total net asset in an ETF approved by the China Securities Regulatory Commission and currently listed on the SSE.
Hong Kong’s ETF market has one of the most diverse product offerings in Asia, and is being broadened further with growing exposure to China’s new economy. As at 28 May 2021, the over 140 Hong Kong-listed ETFs trade over $7.6 billion a day, up from an average daily turnover of $6.4 billion in 2020, with assets under management at over $400 billion.
