Asia's first Saudi ETF was listed in Hong Kong to deepen financial connectivity of the "the Belt and Road"-瞭望新时代网-瞭望时代，放眼世界

Asia's first Saudi ETF was listed in Hong Kong to deepen financial connectivity of the "the Belt and Road"

2023-11-29

The first Saudi ETF (Trading Open End Fund) in Asia was listed on the Hong Kong Stock Exchange on the 29th, with the largest asset size among similar products in the world. Investors can use Hong Kong dollars or Chinese yuan to directly trade constituent stocks of the Saudi stock market index in the Hong Kong market through ETFs. This is also the latest case of "the Belt and Road" financial connectivity. Chen Maobo, Financial Secretary of the Hong Kong SAR Government, said when attending the listing ceremony that the listing of the ETF was an important step in financial cooperation between Hong Kong and Saudi Arabia, and a milestone in financial connectivity of the "the Belt and Road". Its significance lies not only in enriching the financial products in the Hong Kong market, but also in demonstrating to investors the determination of Hong Kong, Saudi Arabia, and even the entire Middle East region to achieve mutual benefit and win-win through innovative means. Yazid Hamid, Vice President of the Saudi Public Investment Fund, said that Hong Kong has a mature and developed financial ecosystem, and many investors see it as a financial gateway connecting the world. This is also the reason why the Saudi Public Investment Fund established an office in Hong Kong in February last year. "We believe in the importance of Hong Kong to the global financial industry.". It is understood that the ETF product tracks relevant indices including 56 large and medium-sized Saudi Arabian exchange listed companies, including oil company Saudi Aramco. During the listing ceremony, CEO of the Hong Kong Stock Exchange Group, Eu Guan Sheng, stated that the ETF listing will provide Asian investors with a transparent, convenient, and low-cost investment tool to access and understand the most dynamic economies in the Middle East. It will also enrich the diversity of Hong Kong Stock Exchange products, consolidate Hong Kong's position as the preferred destination for investors to achieve portfolio diversification and expand global asset allocation. (Lai Xin She)

Edit：Hou Wenzhe Responsible editor：WeiZe

Source：XinhuaNet

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