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【Financial Str. Release】Hong Kong, Shanghai see first ETF cross-listings with market ties closer

Abstract : Hong Kong and Shanghai witnessed the first cross-listings of exchange traded fund (ETF) on Tuesday, indicating increasingly closer ties between financial markets of the two sides.

HONG KONG, June 1 (Xinhua) — Hong Kong and Shanghai witnessed the
first cross-listings of exchange traded fund (ETF) on Tuesday,
indicating increasingly closer ties between financial markets of the two
sides.

The CSOP Huatai-PineBridge CSI Photovoltaic Industry ETF was listed
here Tuesday under a Hong Kong-mainland cross-listing scheme that was
announced in 2020, according to Hong Kong Exchanges and Clearing Limited
(HKEX).

The product invests 90 percent or more of its total net asset in the ETF currently listed on the Shanghai Stock Exchange.

“We warmly welcome these two new ETFs to the market today,” HKEX
chief executive Nicolas Aguzin said, adding these listings marked an
important step forward in the development of cross-boundary ETFs, and
served to “deepen the collaboration between Hong Kong and mainland
exchanges.”

Hong Kong’s ETF market has one of the most diverse product offerings
in Asia and is being broadened further with growing exposure to the
mainland’s new economy.

As at May 28, more than 140 Hong Kong-listed ETFs traded over 7.6
billion Hong Kong dollars (nearly 1 billion U.S. dollars) a day, with
assets under management at over 400 billion Hong Kong dollars (51.55
billion U.S. dollars).

Aguzin said HKEX will continue to work with mainland exchanges,
regulators and market participants to build the fast-growing ETF market,
improve mainland-Hong Kong financial connectivity, and strengthen Hong
Kong’s role as an international financial center. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: 【Financial Str. Release】Hong Kong, Shanghai see first ETF cross-listings with market ties closer

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