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Global X launches China materials ETF


New York-based asset manager Global X Management has launched the Global X China Materials ETF, the first exchange-traded fund offering targeted access to the China materials sector.

It is the latest addition to the family of China sector ETFs offered by Global X Funds.

The Global X China Materials ETF seeks to replicate the S-BOX China Materials Index, which is designed to reflect the performance of the materials sector in China.

As of 30 December 2009, the metals and mining sector represents 66 per cent of the index and chemicals 34 per cent. The largest index components were Aluminum Corporation of China, Angang Steel, Fufeng Group and Shougang Concord International.

China is the world’s largest consumer of copper, zinc, tin, aluminum, lead, platinum, steel, iron ore, fertilizer and many other materials. China is also the world’s top producer of steel, aluminum, zinc, tin, fertilizer and other materials, including 95 per cent of the world’s rare earths, used in a variety of applications, especially in the high technology area.

"China is a large producer and the world’s largest consumer of materials, and its hunger for resources will continue to grow as it builds more cars, railroads and high rises," says Bruno del Ama, chief executive of Global X Management. "China’s GDP is expected to expand 9.4 per cent in 2010, after growing 8.5 per cent in 2009, according to the median estimate of economists surveyed by Bloomberg. The country’s economic upswing will help drive demand for materials in 2010 and beyond."

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