Mainland ETFs to launch
June 29, 2012
Financial Secretary John Tsang has welcomed the China Securities Regulatory Commission's approval of two fund management companies to launch exchange-traded funds (ETFs) constituted by Hong Kong-listed stocks on the Mainland.
Mr Tsang said the launch of ETFs allows Mainland investors to participate in the Hong Kong securities market indirectly, and further enhances interaction and links between the capital markets in Hong Kong and the Mainland.
Meanwhile, the Securities & Futures Commission has authorised the first renminbi ETF tracking an A-share index, which will promote the development of renminbi investment products in Hong Kong and enhance fund flows between onshore and offshore liquidity.
Mr Tsang said these initiatives fully show the Central Government's support for enhancing Hong Kong's status as an international financial centre as well as an offshore renminbi business centre.