Beijing urges mainland insurers to invest in Hong Kong-listed ETFs

Hong Kong’s status as global financial centre receives a boost as China’s financial regulator touts city’s exchange-traded funds China’s financial regulator has encouraged mainland insurers to buy Hong Kong-listed exchange-traded funds (ETFs), an initiative that is poised to further boost the city’s standing as an international finance centre. The announcement was made during a meeting between senior NFRA and Hong Kong officials in Beijing regarding efforts to promote the coordinated development of mainland and Hong Kong capital markets. The meeting was attended by Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, Securities and Futures Commission Executive Director of Investment Products Elisa Ng, and Hong Kong Exchanges and Clearing CEO Bonnie Chan Yiting, as well as Xiao Yuanqi, a vice-minister at the NFRA. “Enabling mainland insurance funds to invest in Hong Kong-listed ETFs via the Stock Connect is a key step in deepening market connectivity between the two places, and it brings new momentum to Hong Kong’s asset management industry,” Hui said.

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