SFC authorizes two ETFs under scheme to facilitate Hong Kong-Mainland cross-listings

Maria Nikolova

The two ETFs will each invest in an ETF approved by the China Securities Regulatory Commission (CSRC) and currently listed on the Shenzhen Stock Exchange.

Hong Kong’s Securities and Futures Commission (SFC) today authorized two exchange-traded funds (ETFs) to be listed on the Stock Exchange of Hong Kong (SEHK) under a scheme which will facilitate cross-listing of ETFs between markets in Hong Kong and the Mainland.

The two ETFs will each invest in an ETF approved by the China Securities Regulatory Commission (CSRC) and currently listed on the Shenzhen Stock Exchange (SZSE). That is, each will invest 90% or more of its total net asset value in a CSRC-approved ETF currently listed on SZSE through the Renminbi Qualified Foreign Institutional Investor (RQFII) status.

The SFC also welcomes the CSRC’s approval today of two ETFs to be listed on SZSE under the same scheme. They will each invest in an SFC-authorized ETF currently listed on SEHK. The two ETFs approved by the CSRC will each invest at least 90% of its assets in an SFC-authorized ETF currently listed on SEHK through the Qualified Domestic Institutional Investor (QDII) status.

The scheme underscores the cooperation between the Mainland and Hong Kong capital markets, and will provide Hong Kong and Mainland investors with more investment opportunities and product choices through access to each other’s market.

These ETFs will be listed on their respective markets under existing listing procedures.

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