Immigrate to Hong Kong focuses on Hong Kong's immigration economy: Regarding the development status of Exchange-Traded Funds (ETF), the Hong Kong Financial Development Council, in its latest report, calls for Hong Kong to promote the development of ETF business through various measures, including incorporating ETF into the Shanghai-Hong Kong Stock Connect and mutual recognition of funds, as well as expanding product varieties and simplifying product approval processes through cross-border listings, to help Hong Kong regain its leadership position in the ETF market in the Asia-Pacific region.
The Chairman of the Hong Kong Financial Services Development Council, Mrs. Laura Cha, stated yesterday that Hong Kong became the first market in the Asia-Pacific region to launch Exchange-Traded Funds outside Japan in 1999. She believes that Hong Kong still possesses this advantage and can bring significant business opportunities to the ETF industry in both regions through cross-border cooperation with the mainland.
The report from the Hong Kong Financial Services Development Council states that as of May this year, global investments in ETF assets amount to $2.9 trillion, with approximately 1,000 to 2,000 products in the European and American markets; however, ETF assets in the Asia-Pacific region currently account for only about 8% of the global total. Nevertheless, the report believes that the retirement savings market in the Asia-Pacific region has seen significant growth in recent years, and with the acceleration of economic growth and wealth creation, it is expected to boost the growth of the ETF market in the region significantly.
The Hong Kong Financial Services Development Council pointed out that although there are currently over 100 ETFs listed and traded in Hong Kong covering various domestic and foreign assets, the total trading volume of ETFs has dropped to third place in the region, behind Tokyo and Shanghai.