The highly anticipated first batch of 10 exchange-traded funds (ETFs) tracking the China Securities Index (CSI) A500 Index debuted on Tuesday on the Chinese mainland bourses.
Approved by the Chinese security regulator in early September, the 10 ETFs have raised a total of approximately 20 billion yuan, or 2.81 billion U.S. dollars.
The CSI A500 ETFs run by China Southern Fund, Invesco Great Wall Fund, Harvest Fund, Yinhua Fund, and Guotai Asset Management are listed on the Shenzhen Stock Exchange. Meanwhile, Huatai-PineBridge Investments, J.P. Morgan Asset Management, Fullgoal Fund, China Merchants Fund, and Taikang Asset Management have their ETFs listed on the Shanghai Stock Exchange.
According to disclosed information, a variety of institutional investors - including brokerages, insurance funds, private equity firms, and foreign banks—are among the primary holders of the CSI A500 ETFs.
Analysts note that the introduction of the CSI A500 ETFs serves two significant purposes. First, it provides investors with opportunities to capitalize on the "new quality productive forces." Second, it directs more capital into those emerging and tech-heavy sectors, enhancing the capital market's ability to support the real economy.
Formally released on Sept 23, the CSI A500 index tracks 500 securities with large market values to reflect the overall stock performance of the listed companies most representative of China's various industries.
Index funds represented by ETFs have developed rapidly in China. The domestic ETF market size reached 2.47 trillion yuan (about 350 billion U.S. dollars) by the end of June 2024, according to reports released by Shanghai and Shenzhen bourses.
First batch of 10 CSI A500 ETFs hit market
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
