Shenzhen is about to list its first digital economy exchanged-traded fund (ETF), amidst efforts by the Chinese central government to step up the role played by digital technology in driving economic growth.
The Hua’an Zhongzheng Digital Economy ETF (华安中证数字经济主题ETF) will track the Zhongzheng Digital Economy Index (中证数字经济主题指数), granting domestic investors the opportunity to gain greater exposure to key tech stocks.
State-owned media reports that Penghua Fund Management and Invesco Great Wall have also applied with the China Securities Regulatory Commission (CSRC) for the launch of Growth Enterprise Market (GEM) ETF’s on the Shenzhen Stock Exchange.
“The launch of new products such as Digital Economy and GEM 50 ETF’s will focus on key areas such as the digital economy, advanced manufacturing and green low-carbon sectors, and be of benefit to attracting more medium and long-term capital to the market,” said a source.
