Two exchange-traded funds of Hang Seng Bank are expected to be launched on the Shenzhen Stock Exchange of China’s Mainland in the fourth quarter of this year.
Two exchange-traded funds of Hang Seng Bank are expected to be launched on the Shenzhen Stock Exchange of China’s Mainland in the fourth quarter of this year.
Once the regulators of China’s Mainland publish rules on the listing of foreign ETFs, Hang Seng Bank is to enter the Mainland market either with its existing products or newly designed products, according to Margaret Leung, vice chairman and chief executive of Hang Seng Bank.
Hang Seng Bank is also expected to enter the insurance, securities, and wealth management markets in China’s Mainland via setting up joint ventures. In the first half of this year, the Mainland market contributed 11.7 per cent to the total operating revenues of the bank and the proportion is expected to reach 15 per cent in the not long distant future.
Hang Seng Bank is to focus on the Pearl River Delta area, the Yangtze River Delta area and Bohai Sea Rim region. By the end of this August, the bank will have 35 branches in China’s Mainland and the figure is expected to reach 50 ones in the coming three years. In January through July this year, the fund collection by new funds reached CNY186.3bn, thus exceeding the figure in the whole year of 2008.
