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[Alpha Biz=(Chicago) Reporter Kim Jisun] Mirae Asset Global Investments announced on the 30th that it will become the first domestic asset management company to enter the exchange-traded fund (ETF) market in mainland China.
Global X Hong Kong (Global X Hong Kong), a ETF management subsidiary of Mirae Asset Management, will start trading 'Global X Hang Seng TECH ETF’' on the Shanghai / Shenzhen Exchange in China from November 6. Local
The Global X Hang Seng TECH ETF’ is an ETF that follows the Hang Seng Tech index and invests in 30 innovative companies representing China's new growth industry among IT and technology-based companies listed on the Hong Kong Stock Exchange.
With cross-trading of ETFs between mainland China and the Hong Kong Stock Exchange from July 2022, the two exchanges are selecting cross-tradeable ETFs through screening of ETFs that meet certain qualification criteria.
Mirae Asset Global Asset Management's net assets of ETF reached 133 trillion won as of the end of September.
Mirae China's ETF market is worth about 360 trillion won as of the end of September, the second largest in Asia after Japan.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
