Beijing, June 17, 2024 — In a significant development, China’s regulatory authorities have granted approval for the launch of the first exchange-traded funds (ETFs) focused on Saudi stocks. This move represents a milestone in the collaboration between the two nations’ financial markets.
Key Details
- Fund Managers’ Confirmation: Investment fund managers confirmed to Reuters that the regulatory approval was received on Friday. The ETFs will provide Chinese investors with exposure to Saudi Arabian equities.
- Product Management: Two prominent Chinese companies, Huatai-PineBridge Investments, and Southern Asset Management, will independently manage these ETF products. Their portfolios will closely track the CSOP Saudi ETF, which is currently listed on the Hong Kong Stock Exchange.
- Cooperation and Market Integration: Ding Chen, CEO of CSOP, emphasized that this approval signifies strengthened cooperation between Saudi Arabia and China in capital markets. By facilitating investment opportunities, both countries aim to enhance bilateral economic ties.
The launch of these ETFs opens up new avenues for investors seeking exposure to the dynamic Saudi stock market, while also fostering deeper financial connections between the Middle East and Asia.
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