- First ETF listings in Hong Kong and Shanghai under Hong Kong-Mainland ETF Cross-listing Scheme
- Hong Kong-listed ETF AUM continues to grow, standing at over $400 billion as at 28 May 2021
Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to welcome 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.”
“We are fully committed to continuing to build the fast-growing ETF market in Asia, working with the Mainland exchanges, regulators and market participants. Our ambition is to deliver a successful ETF Connect, as part of our strategic focus is to provide ever greater choice, opportunity and connectivity, strengthening Hong Kong’s role as an international financial centre,” said Mr Aguzin.
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.
Further information about Hong Kong-listed ETPs is available in HKEX’s website.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.