The Hong Kong and Shanghai stock exchanges have agreed to cooperate more closely on ETFs and other types of product development to boost mutual growth.
Following a meeting on 21 January, the exchanges say future cooperation on ETFs will be gradually extended to include funds based on bonds and gold, as well as cross listings.
Interest for ETFs in the Chinese domestic market is increasing, with several mainland fund management companies actively making preparations for the issuance of ETFs tracking Hong Kong stocks, according to the exchanges.
The two organisations also agreed to extend cooperation in the development of information products. For example, they are exploring the possibility of compiling an index including securities listed in Shanghai and Hong Kong, to increase their influence in the global market.
The meeting between the two exchanges follows an agreement on closer cooperation made in January last year. As a result of recent discussions, the organisations will meet every two months, with a focus on operational issues including information disclosure by listed issuers.
Smoking biggest culprit; obesity second
Average earner will gain £840 in 2018
Will also move heritage items
Responding to letter from Treasury Committee chair Nicky Morgan