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 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].