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China approves mainland-traded Hong Kong stock ETFs


The China Securities Regulatory Commission has approved two exchange-traded funds to be listed on the Shanghai and Shenzhen Stock Exchanges that will invest directly in Hong Kong listed stocks, each tracking a Hong Kong stock index.

“The approval of the Hong Kong Stock ETFs represents a milestone in implementing the relevant measures under supplements VI and VII to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). Hong Kong Stock ETFs provide an alternative channel for Mainland investors to participate in the Hong Kong securities market and further strengthen the co-operation between the Mainland and Hong Kong capital markets,” says Eddy Fong, chairman of the Securities and Futures Commission.

The SFC has also authorised the world’s first Renminbi Qualified Foreign Institutional Investor (RQFII) A-share ETF for listing on the Stock Exchange of Hong Kong. Through the RQFII investment quota granted by the Mainland authorities, an RQFII A-share ETF seeks to track the performance of an A-Share index by channelling renminbi raised outside mainland China to invest directly in a portfolio of A-shares, which replicates the performance of the underlying A-share index.

“RQFII A-share ETFs broaden the range of renminbi investment products in Hong Kong, offering Hong Kong investors an alternative channel to invest in the A-share market,” says Alexa Lam, the SFC’s deputy chief executive officer and executive director of policy, China and investment products.

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