ETF互联互通“启航” 增量资金有望加速进场

Group 1 - The launch of the ETF trading under the Stock Connect mechanism marks a significant milestone in the capital markets, enhancing cooperation between mainland China and Hong Kong [1] - As of July 4, 2023, northbound capital has accumulated a net purchase amount exceeding 1.7 trillion yuan, while southbound capital has surpassed 2 trillion yuan since the launch of the Stock Connect [1] - The inclusion of ETFs in the Stock Connect is expected to attract long-term allocation funds to both markets, furthering the internationalization of the A-share market [1] Group 2 - A total of 87 ETFs have been officially included in the Stock Connect, comprising 53 from the Shanghai Stock Exchange, 30 from the Shenzhen Stock Exchange, and 4 from the Hong Kong Stock Exchange [2] - The diverse range of ETFs includes core broad-based products and thematic industry ETFs, such as those focused on advanced manufacturing, digital economy, and green low-carbon sectors, appealing to international investors [2][3] - The growing number of industry-themed ETFs in mainland China, which now account for a significant portion of the market, presents strong allocation attractiveness for foreign investors [2] Group 3 - The ETF market is anticipated to welcome incremental capital as the Stock Connect mechanism enhances the variety of investable products for foreign investors [4] - The total scale of ETFs listed on the Hong Kong Stock Exchange that invest in A-shares has exceeded 50 billion yuan, indicating strong demand from overseas markets [4] - The first batch of 83 northbound eligible ETFs involves a total scale of over 671.7 billion yuan from 20 public funds, with leading firms like GF, Huaxia, and E Fund having the highest number of products [4] Group 4 - The ETF inclusion in the Stock Connect is a crucial step in the ongoing internationalization of China's capital markets, facilitating cross-border investment opportunities [5][6] - The Shanghai Stock Exchange has reported a cumulative transaction volume of 52 trillion yuan since the launch of the Stock Connect, indicating growing market activity [5] - The move to include ETFs is part of a broader strategy to deepen the opening-up of China's capital markets, enhancing the international financial center status of Hong Kong [6]