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交易型开放式基金(ETF)
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推动内地与香港市场深度融合——资本市场互联互通稳步提速
Xin Hua Wang· 2025-08-12 06:26
Core Viewpoint - The inclusion of exchange-traded funds (ETFs) in the mutual market access mechanism between mainland China and Hong Kong is aimed at enhancing the development of both capital markets and providing more investment opportunities for domestic and foreign investors [1][2][3]. Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) have agreed to include eligible ETFs in the mutual market access framework [1]. - The public consultation on the rules for including ETFs in the mutual market access was initiated by the Shanghai and Shenzhen Stock Exchanges [3]. - The mutual market access mechanism has been operating steadily since its inception, contributing positively to attracting foreign long-term capital and improving market structure [1]. Group 2: ETF Inclusion Criteria - The criteria for including ETFs in the mutual market access require that mainland ETFs have an average daily asset size of 1.5 billion RMB over the past six months, while Hong Kong ETFs must have an average daily asset size of 1.7 billion HKD [3]. - The ETFs must primarily consist of stocks eligible for the Stock Connect program and must have been listed for at least six months with their underlying index published for at least one year [3]. Group 3: Market Impact and Investor Benefits - The inclusion of ETFs is expected to enrich the investment channels and products available to both domestic and foreign investors, facilitating better market resource alignment [4]. - Analysts believe that this move will improve the investor structure and promote the healthy development of the ETF market [4]. - The overall benefits of including ETFs in the mutual market access include promoting the joint development of capital markets, enriching investment options for investors, and enhancing the scale and liquidity of ETFs in both markets [4].
上交所发布《上海证券交易所基金自律监管规则适用指引第4号——交易型开放式基金风险管理》
news flash· 2025-07-04 08:11
Group 1 - The Shanghai Stock Exchange (SSE) has established new guidelines for risk management of Exchange-Traded Funds (ETFs) to enhance the management of ETF trading behaviors by its members and protect investors' rights [1] - The new self-regulatory rules, titled "Guidelines for Self-Regulatory Supervision of the Shanghai Stock Exchange No. 4 - Risk Management of Exchange-Traded Funds," will take effect on August 1, 2025 [1] - The previous guidelines issued on April 6, 2012, regarding the operational risk management of ETF management companies will be abolished [1]
英媒:港交所计划吸引东南亚、中东企业赴港二次上市
Huan Qiu Wang· 2025-06-16 23:11
Group 1 - Hong Kong Stock Exchange (HKEX) plans to attract companies listed in Southeast Asia and the Middle East for secondary listings to enhance its global influence [1] - HKEX will establish an office in Riyadh, Saudi Arabia, to strengthen ties with the Saudi Stock Exchange [1] - Saudi Arabia is increasing efforts to promote trading activities with Hong Kong, aiming to attract Chinese investors as part of its Vision 2030 initiative [1] Group 2 - HKEX is working to attract companies from around the world for initial public offerings (IPOs) as investor interest shifts away from US assets [2] - In the past 12 months, three Singaporean companies have listed in Hong Kong, and a Thai company is expected to follow soon [2] - HKEX has recognized the Thailand Stock Exchange as its 20th approved exchange, facilitating Thai companies like PTT and CP All for secondary listings [2] Group 3 - The Financial Secretary of Hong Kong anticipates that the city will become the largest cross-border asset management center globally within two to three years [3] - HKEX aims to include more foreign stock exchanges in its approved list to promote Hong Kong as an international financing hub [3]