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The First ETF Cross-Listing on Hong Kong and Shanghai Exchange, HK ETF AUM at $51 Billion

2nd June 2021 | Hong Kong

Hong Kong Exchanges and Clearing (HKEX) and Shanghai Stock Exchange (SSE) announced the first cross-listing of ETF on both Hong Kong and Shanghai Exchange on the 1st June 2021, with the listing of CSOP Huatai-PineBridge CSI Photovoltaic Industry ETF on Hong Kong Exchange (HKEX) and is also available on the Shanghai Stock Exchange (SSE).  This first cross-listing of ETF marks the start of the Shanghai-Hong Kong ETF Connect, allowing global investors to access China markets via ETF listed on Hong Kong Exchange (HKEX) and already listed on Shanghai Stock Exchange (SSE). 

Vice-versa, the Shanghai-Hong Kong ETF Connect will also allow Chinese Mainland investors to access global markets via ETF listed on Shanghai Stock Exchange (SSE), that is already listed on Hong Kong Exchange (HKEX). 

ETF ~ Exchange Traded Fund
Hong Kong Exchanges and Clearing (HKEX) is referred as Hong Kong Exchange or HKEX in this article

“The First ETF Cross-Listing on Hong Kong and Shanghai Exchange, HK ETF AUM at $51 Billion”

 

The First Cross-Listing ETF – Hong Kong and Shanghai Exchange

Hong Kong Exchange

On Hong Kong Exchange (HKEX), the new ETF listed CSOP Huatai-PineBridge CSI Photovoltaic Industry ETF (Stock code: 3134), through the Renminbi Qualified Foreign Institutional Investor (RQFII) status, will invest 90% or more of its total net asset in an ETF approved by the China Securities Regulatory Commission (CSRC) and currently listed on the Shanghai Stock Exchange (SSE).

 

HKEX Chief Executive Officer, Nicolas Aguzin
HKEX Chief Executive Officer Nicolas Aguzin:

“We warmly welcome these two new ETFs to the market today, with one listed on HKEX and another on the Shanghai Stock Exchange (SSE). These listings mark an important step forward in the development of cross-border ETFs, and deepen the collaboration between Hong Kong and Mainland exchanges.

We are fully committed to continuing to build the fast-growing ETF market in Asia, working with the Mainland exchanges, regulators and market participants. Our ambition is to deliver a successful ETF Connect, as part of our strategic focus is to provide ever greater choice, opportunity and connectivity, strengthening Hong Kong’s role as an international financial centre.”

 

Shanghai Stock Exchange (SSE)

Shanghai, China

At the end of 2020, Shanghai Stock Exchange (SSE) has became the world’s 3rd largest stock exchange and the largest stock exchange in Asia with more than $6.2 trillion market capitalisation, overtaking Tokyo Stock Exchange (TSE), which had been the largest stock exchange in the Asia.

The top 5 largest stock exchange in the world are New York Stock Exchange (NYSE), NASDAQ, Shanghai Stock Exchange (SSE), Tokyo Stock Exchange (TSE) and The Stock Exchange of Hong Kong (HKEX).

 

Hong Kong ETF Market

The Hong Kong ETF market has one of the most diverse product offerings in Asia, and is being broadened further with growing exposure to China’s new economy.  There are currently more than 140 Hong Kong-listed ETFs with $980 million (HKD 7.6 billion) trading volume daily, and ETF AUM (Assets under Management) at over $51 billion (HK$400 billion) as of 28th May 2021. 

 

Hong Kong Fee Waiver for Fixed Income and Money Market ETF

On 31st May 2021, Hong Kong Exchange (HKEX) had announced the fee waiver of Hong Kong-listed fixed income ETFs and money market ETFs effective immediately.  The trading tariff of HK$0.50 and minimum stock settlement fee payable will be waived.

 

HKEX Head of Exchange Traded Products, Brian Roberts
HKEX Head of Exchange Traded Products Brian Roberts:

“The new fee waivers, which will help investors reduce costs for fixed income ETFs and money market ETF transactions, are HKEX’s latest initiative to enhance its ETF market structure and drive liquidity to Hong Kong-listed ETFs.

We believe the fee waivers are introduced at an opportune time as there has been a strong increase in investor demand for China fixed income products in recent years.”

 

Related:

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About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets.  HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited.  This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.

Visit: www.hkexgroup.com

 

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