ETF Daily News
China Asset Management Ltd. rolled out its China AMC CSI 300 Index-based ETF, making it the first ETF to provide foreign investors with direct exposure to China A-Shares on Monday, July 16, according to an article on Bloomberg BusinessWeek.
While there are other A-Share ETFs available on the market, they are derivative-based products that try to replicate the indexes and are trading solely in Hong Kong dollars, the article said.
Three other physically backed A-shares products are awaiting approval from the Hong Kong Securities and Futures Commission.
By opening its doors to the international market, the Hong Kong exchange is taking steps to become an international powerhouse for products based on Chinese currency, the renminbi, the Business Week article said.
For more on the A-Shares ETFs, visit BusinessWeek.com.