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Global X Funds relaunches China Technology ETF

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Global X Funds has re-launched the Global X NASDAQ China Technology ETF (Ticker: QQQC) on the NASDAQ. The fund was previously named the Global X China Technology ETF (Ticker: CHIB).

The fund tracks the NASDAQ OMX China Technology Index, which is designed to track the performance of the technology sector in China. As of 12 December, 2011, the three largest components of the index were ASM Pacific Techno, Lenovo Group, and BAIDU, INC.

QQQC is made up of securities of companies which have their main business operations in the technology sector: computer services; internet; software; computer hardware; electronic office equipment; semiconductors; and telecommunications equipment. Investors in the fund may stand to benefit from the fact that China now has more than 500 million internet users, representing an internet penetration rate just under 40% – significantly lower than the US penetration rate of nearly 80% and demonstrating the potential for future user growth (State Information Office of the Internet, 2011). In addition, in Q3 of 2011, China passed the U.S. as the largest market for smartphones in the world, with shipments just under 24 million units – a 58% increase from the previous quarter, according to Strategy Analytics.

When it comes to online gaming, China’s online game market is expected to reach more than 60 million users by 2013, up from 15.5 million in 2009, according to Reuters, 2010. Finally, spending on broadband infrastructure equipment is expected to reach USD1.15 billion in 2014, up from USD925 million in 2011 and USD688 million in 2010 (HIS iSuppli, 2011).

"China is driving its efficient manufacturing and rapidly expanding consumer base into higher value, technology-based products and services," says Bruno del Ama (pictured), CEO of Global X Management.
 

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