In order to continuously optimize the interconnection mechanism between the mainland and Hong Kong markets and enrich the existing objects of interconnection, according to the joint announcement of the securities regulatory commissions of the two places, Shanghai Stock Exchange, Shenzhen Stock Exchange, Hong Kong Exchanges and Clearing Co., Ltd China Securities Depository and Clearing Co., Ltd. (hereinafter referred to as Shanghai Shenzhen Hong Kong Stock Exchange and China Clearing) has reached a consensus on the overall scheme of integrating ETF into the subject of interconnection. The inclusion of ETF into the interconnection target is another landmark achievement of the upgrading of the interconnection mechanism, which will make the interconnection spot ecological chain more complete and further promote the mainland and Hong Kong markets to create a win-win situation. On the one hand, the inclusion of ETF into the interconnection target can enrich the investment channels and transaction varieties of domestic and foreign investors, which is conducive to more convenient and effective allocation of each other's market resources by domestic and foreign investors; On the other hand, the inclusion of ETF into the interconnection target will further improve the investor structure and promote the healthy development of ETF market. In the next step, Shanghai Shenzhen Hong Kong Stock Exchange and China Clearing will pay close attention to the business and technical preparations related to the inclusion of ETF into the subject matter, including modifying relevant rules and soliciting public opinions. It is expected to take about 6 months to prepare. (outlook new era)