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HKEx Welcomes First Mainland Onshore Bond ETF

by Mary Swire, Lowtax.net, Hong Kong
20 February, 2014

Hong Kong Exchanges and Clearing Limited (HKEx) has welcomed the listing, on February 19, of the CSOP China Five-Year Treasury Bond Exchange Traded Fund (ETF) – the first ETF outside China that tracks the Mainland onshore bond market.

The underlying index of the ETF is the China Bond Five-Year Treasury Bond Index, compiled by China Central Depositary & Clearing Co., Ltd. The new listing has a renminbi (RMB) counter and a Hong Kong dollar (HKD) counter to allow investors to trade units in either currency.

It is HKEx's 14th dual counter (RMB and HKD) ETF, its 12th RMB Qualified Foreign Institutional Investor ETF and is the 117th ETF listed in Hong Kong. HKEx's ETF turnover rose 73 percent in 2013.

"The listing demonstrates our continued building of RMB fixed income and currency product offerings aligned with our strategy," said Charles Li, HKEx's Chief Executive. "With growing Hong Kong and international investors' needs to trade the onshore Chinese Government bond market, this new ETF will provide easy access to the market through a single product and further strengthen Hong Kong's position as the leading international market to trade RMB products."

A comprehensive report in our Intelligence Report series giving a country-by-country analysis of offshore investment funds, stock exchanges and trusts, with an analysis of the US QI regime, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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