BEIJING, July 4 (Xinhua) -- Trading of exchange-traded funds (ETFs) under the mainland-Hong Kong stock connect programs began on Monday, marking a significant step to deepening the cooperation of capital markets in both the Chinese mainland and Hong Kong.
The inclusion of ETFs in stock connect programs will facilitate investment for both domestic and overseas investors, and help asset managers and brokers of the Chinese mainland and Hong Kong further improve their management and service, said Cai Jianchun, general manager of the Shanghai Stock Exchange, at Monday's online launch ceremony.
Among the first batch of ETFs included in the stock connect programs, 83 ETFs are from the domestic A-share market and four are from the Hong Kong stock market.
As an investment product widely recognized by domestic and overseas investors, ETF has the advantages of diversified investment, openness, low transaction cost and high efficiency, Sha Yan, general manager of the Shenzhen Stock Exchange, noted.
The inclusion of ETFs will enrich cross-border investment products, provide more investment convenience and opportunities for domestic and overseas investors, and promote the sustained, stable and healthy development of both the Chinese mainland and Hong Kong market, she added.
A total of 437 ETFs are currently traded on the Shanghai Stock Exchange, with a market capitalization of 1.2 trillion yuan (178.9 billion U.S. dollars) and turnover of 6.6 trillion yuan, data showed.