Core Viewpoint - The launch of the ChiNext 50 ETF-DR on November 25 in the Thai stock market marks a significant milestone in the internationalization of Chinese index products, providing Thai investors with a new tool to invest in China's innovative technology sector [2][4]. Group 1: Product Launch and Features - The ChiNext 50 ETF-DR is the first depository receipt linked to a Chinese ETF listed in Thailand, allowing local investors to access the ChiNext 50 Index without the need for cross-border remittances [2][4]. - The product is denominated in Thai Baht and can be traded like stocks on the Thai stock exchange, enhancing accessibility for Thai investors [4]. - The underlying asset, the Invesco Great Wall ChiNext 50 ETF, was established in December 2022 and has surpassed a scale of 5 billion Yuan, indicating strong market liquidity and investor interest [4]. Group 2: Market Context and Demand - There is a growing demand among Thai investors for exposure to Chinese core assets, driven by China's high-quality economic development and the gradual opening of its capital markets [4][5]. - The ChiNext 50 Index includes leading companies in sectors such as renewable energy, artificial intelligence, biomedicine, and high-end manufacturing, reflecting China's integration into the global innovation chain [5]. Group 3: Internationalization of Chinese Indices - The listing of the ChiNext 50 ETF-DR follows the successful launch of similar products in major European exchanges, highlighting the ongoing internationalization of Chinese index products [4][8]. - The Shenzhen Stock Exchange has facilitated the listing of multiple ChiNext index products across over ten global exchanges, creating a cross-border trading ecosystem for ChiNext ETFs [6]. - The internationalization strategy includes both "going out" of domestic assets and "bringing in" foreign assets, enhancing the global recognition of Chinese assets and providing diverse investment options for domestic investors [8].

Core Insights - Leading public funds are increasingly engaging in international collaborations, marking significant progress in their overseas initiatives [1][2][4] Group 1: International Collaborations - In November, China Merchants Fund signed a memorandum of cooperation with a New Zealand fund company, Smart, and the Bank of China New Zealand branch to enhance capital market connectivity [2] - Huatai-PineBridge Asset Management Hong Kong partnered with Korea Investment Trust Management to develop various ETF products in the Hong Kong market, aiming to create richer overseas asset allocation channels for domestic investors [2][3] - E Fund participated in the 2025 Global Responsible Investment Conference in Brazil, co-releasing a white paper on responsible investment between China and Brazil [3] Group 2: Market Expansion - The range of Chinese-themed products in overseas markets has expanded, with ETFs linked to Chinese indices being listed in Brazil and Singapore, marking the first instance of ETF connectivity in South America [4] - The first two Brazil-themed ETFs were launched, expanding the investment scope of QDII products to Latin America, with existing products covering various countries [4] Group 3: Growth of Overseas Subsidiaries - The number of overseas subsidiaries of fund companies is increasing, serving as a crucial platform for international business development [5] - Several institutions, including Changjin Hexin Fund and GF Fund, are in the process of establishing overseas subsidiaries, indicating a trend towards internationalization [5] Group 4: Industry Perspective - Industry experts believe that internationalization is key to the high-quality development of public funds, emphasizing the need for continuous expansion of international perspectives [6] - The evolution from domestic to international operations is driven by the deepening of domestic capital market openness, industry maturity, and upgraded investor demands [6]

Core Viewpoint - The Chinese public fund industry is transitioning from domestic to international, aiming for high-quality development and global market presence through various strategies such as QDII business expansion and partnerships with overseas financial institutions [1][2][4]. Group 1: Industry Development - The Chinese public fund market has matured, with total assets surpassing 35 trillion yuan by July this year, prompting a collective vision for international business expansion [2]. - Recent initiatives include the launch of a FOF fund in Thailand, showcasing the active engagement of Chinese public funds in overseas markets [2]. - The establishment of overseas subsidiaries has expanded from Hong Kong to other regions like Macau, Singapore, and New York, with over 20 public funds already having set up such entities [2][3]. Group 2: Internationalization and Global Pricing Power - The internationalization of public funds is driven by the maturation of the industry and the evolving needs of investors, facilitating better global pricing for Chinese assets [4]. - The increasing demand for diversified asset allocation among domestic investors is pushing public funds to explore international markets [5]. - The expansion of mutual fund products, such as ETFs, has reached 265, providing significant avenues for global investors to access Chinese assets [3]. Group 3: Competitive Advantages - Chinese public funds possess unique competitive advantages in the international market, including strong learning capabilities, a large pool of skilled financial talent, and a robust domestic market [7]. - The integration of Chinese technology with local industries in regions like the Middle East is creating opportunities for customized investment products [6]. - The ongoing global re-evaluation of Chinese assets positions public funds favorably for international investments [7]. Group 4: Risk Management and Challenges - The globalization of public funds necessitates enhanced risk management capabilities, particularly in understanding diverse regulatory environments and market conditions [8][9]. - Challenges such as high information acquisition costs, currency fluctuations, and compliance risks require public funds to develop comprehensive risk management systems [9]. - Continuous research and collaboration with international institutions are essential for improving overseas investment capabilities and addressing investor concerns [9].

Core Viewpoint - The trend of "buying Chinese funds" is gaining popularity among global investors, with Chinese public funds actively exploring overseas markets to provide low-threshold investment tools for accessing China's growth dividends [1][11]. Group 1: Chinese Funds Entering Overseas Markets - Thai investment circles are experiencing a surge in interest in Chinese funds, exemplified by the launch of the Bualuang China A500 Passive Fund, which links to the Huaxia A500 ETF, allowing Thai investors to access Chinese assets easily [2][3]. - The Bualuang fund focuses on leading Chinese companies across various sectors, emphasizing technology and consumption, and aims to capture the benefits of China's economic transformation [3]. Group 2: Successful Collaborations and Expansions - The collaboration between Chinese public funds and Southeast Asian markets is thriving, with notable partnerships such as the one between Fuguo Asset Management and the Malaysian Stock Exchange to launch ETF products [5]. - In Brazil, E Fund has partnered with Itaú Asset Management to issue the Itaú E Fund MSCI China A50 ETF, enhancing the connection between Chinese and Brazilian capital markets [6]. Group 3: Innovative Product Offerings - The launch of various ETFs linked to the ChiNext Index across multiple international exchanges highlights the growing interest in Chinese technology innovation among global investors [7]. - The dual approach of "going out" and "bringing in" is evident in the development of cross-border products, such as the Southbound ETF that allows domestic investors to access foreign markets [8][9]. Group 4: Future Outlook - The Chinese public fund industry is committed to sharing the benefits of China's economic growth with global investors, with expectations for more successful overseas expansions in the future [11].

Core Insights - The trend of "buying Chinese funds" is gaining popularity among global investors, with Chinese public funds actively exploring overseas markets to provide low-threshold investment tools for accessing China's growth dividends [1][2]. Group 1: Market Expansion - Thai investors are increasingly interested in Chinese funds, exemplified by the launch of the Bualuang China A500 Passive Fund, which links to the Huaxia A500 ETF, allowing local investors to easily invest in Chinese assets [1][2]. - The B-CNA500P fund focuses on high-growth sectors such as technology and consumption, significantly reducing exposure to financial stocks, and targets companies that contribute to China's economic transformation [2][3]. Group 2: Strategic Collaborations - The collaboration between Huaxia Fund and BBLAM represents a shift in the public fund industry's approach to overseas markets, moving from simple capital flows to a dual output of strategy and product [2][3]. - Other notable collaborations include partnerships between various Chinese asset management firms and Southeast Asian markets, such as the cooperation between Fuguo Asset Management and Malaysia's stock exchange [3][4]. Group 3: Global Outreach - Chinese public funds are also making strides in Latin America, with the Itaú Asset Management successfully launching the Itaú E Fund MSCI China A50 ETF in Brazil, enhancing connectivity between Chinese and Brazilian capital markets [4][5]. - In the Middle East, partnerships like that of Fuguo Hong Kong and SEDCO Capital are creating new investment products, allowing local investors to access Chinese assets directly [6][7]. Group 4: Innovative Product Development - The public fund industry is actively exploring various product models, including QDII, Hong Kong Stock Connect, and cross-border wealth management, to facilitate both inbound and outbound investment [7][8]. - The establishment of overseas subsidiaries by Chinese public fund companies has become a crucial strategy for expanding their international presence and sharing the benefits of China's economic growth with global investors [8].

Group 1 - A new FOF product named Bualuang China Next Economy Fund has been launched in Thailand, aimed at providing local investors access to Chinese investment opportunities through QFII allocations in E Fund's equity products [1] - Bangkok Bank's subsidiary, BBLAM, is the largest asset management firm in Thailand and has been actively expanding its investment strategies in the Chinese market [1][2] - The collaboration between BBLAM and E Fund reflects a commitment to enhancing investment opportunities in China, particularly in sectors such as artificial intelligence, renewable energy, robotics, and healthcare [2] Group 2 - BBLAM has signed a strategic cooperation memorandum with E Fund to facilitate more efficient access to the Chinese capital market for Thai and global investors [1][2] - E Fund is accelerating its globalization strategy by establishing subsidiaries in overseas markets and forming strategic partnerships with leading asset management firms [2] - E Fund has also expanded its international market presence through cross-border ETF collaborations, with products launched in Singapore and Brazil [3]

Core Viewpoint - The launch of the Aoming E Fund ChiNext ETF on the Singapore Exchange marks a significant milestone in the cross-border ETF connectivity initiative, providing overseas investors with easier access to China's ChiNext market [1] Group 1: ETF Launch and Connectivity - The Aoming E Fund ChiNext ETF is the fourth ETF tracking Chinese assets to be listed on the Singapore Exchange since the launch of the Shenzhen-Singapore ETF connectivity mechanism in 2022 [1] - This new ETF tracks the "ChiNext Index," which includes leading companies in sectors such as new generation information technology, new energy vehicles, and biotechnology [1] - The ChiNext Index-related ETFs have now been listed on 10 overseas stock exchanges, achieving coverage of major economies across Asia, Europe, North America, and South America [1]

Group 1: Institutional Movements - The internationalization process of public funds is continuously advancing, with institutions frequently "going abroad" [1][2] - On July 30, Rongtong Fund's subsidiary successfully launched its first public fund product in Hong Kong, providing overseas investors with more channels to invest in Chinese assets [1][2] - The China Securities Regulatory Commission (CSRC) has approved the establishment of a subsidiary in Singapore by Xingzheng Global Fund, indicating a gradual expansion of overseas business capabilities [2][3] Group 2: Acceleration of Public Fund Internationalization - The CSRC has issued guidelines to enhance the supervision of securities companies and public funds, promoting high-level openness and supporting qualified foreign institutions to establish operations in China [3] - The public fund industry is expected to take on greater responsibilities and promote representative quality indices to overseas markets [3] Group 3: ETFs Entering Overseas Markets - Multiple ETFs have been launched in overseas markets this year, including the launch of the Aoming E Fund ChiNext ETF in Singapore on July 22 [4] - The first ETF tracking the China Securities Index Dividend Index was successfully listed in Singapore in March, marking a significant step in cross-border investment tools [4] - Several ETFs have also been listed in Brazil, facilitating easier access for Brazilian investors to invest in the Chinese market [4][5]

Group 1 - The launch of the Omin E Fund ChiNext ETF on the Singapore Exchange marks an expansion of the China-Singapore ETF mutual access program, providing overseas investors with a convenient tool to invest in China's ChiNext market [1][3] - The ChiNext Index, which the ETF tracks, is a significant benchmark in the A-share market, representing innovative and entrepreneurial companies, with over 90% of its weight in strategic emerging industries such as new generation information technology, new energy vehicles, and biomedicine [1][2] - The ChiNext Index has shown strong fundamental growth, with a compound annual growth rate of 21% in revenue and 14% in net profit since 2021 [1] Group 2 - E Fund's Vice President highlighted that China, as the world's second-largest economy, is steadily advancing financial market openness, making its market an essential part of global asset allocation [2] - The Omin E Fund ChiNext ETF is the second cross-border ETF resulting from the collaboration between Omin Asset Management and E Fund, symbolizing their deepening partnership and joint efforts in international market expansion [2] - The Shenzhen Stock Exchange plans to continue expanding high-level openness and optimize mutual access product mechanisms to attract more long-term foreign capital into the Chinese market [2][3]

Core Viewpoint - The launch of the Omnifund Easyway ChiNext ETF on the Singapore Exchange marks a significant step in the cross-border investment landscape, providing international investors with easier access to China's ChiNext market, which focuses on innovative and emerging industries [1][2]. Group 1: ETF Launch and Market Access - The Omnifund Easyway ChiNext ETF is the fourth Chinese asset ETF listed on the Singapore Exchange since the establishment of the Shenzhen-Singapore ETF mutual access program in 2022 [1]. - A total of 10 ChiNext-related ETFs have now been listed on various overseas exchanges, achieving comprehensive coverage across major economies in Asia, Europe, North America, and South America [1]. - The ETF tracks the ChiNext Index, which represents a significant benchmark for China's A-share market, with over 90% of its weight in strategic emerging industries [1]. Group 2: Industry Growth and Investment Opportunities - The ChiNext Index includes leading companies in sectors such as new generation information technology, new energy vehicles, and biotechnology, featuring firms like CATL, Huichuan Technology, and Mindray Medical [1]. - Since 2021, the index's constituent stocks have shown strong fundamental growth, with compound annual growth rates of 21% in revenue and 14% in net profit [1]. - The ChiNext market is characterized by high market vitality and elasticity, making it a frontline area for emerging industries, with significant long-term investment value [3]. Group 3: Future Developments and Strategic Goals - The mutual access mechanism for ETFs between China and Singapore is expected to continue expanding, with plans for more diversified cross-border investment tools [2][3]. - The Shenzhen Stock Exchange aims to attract more long-term foreign capital to invest in the Chinese market, enhancing its international influence [3].