The Shanghai Stock Exchange, aiming to deepen its links to overseas markets, will launch China's first exchange-traded fund tracking foreign stocks this year, SSE president Zhang Yujun said yesterday.
The announcement follows Chinese media reports that the SSE had given permission to Chinese fund companies to develop global ETFs to track overseas indices such as the Dow Jones Industrial Average.
It comes amid expectations that Beijing will allow foreign companies to list in Shanghai this year, as part of China's ambitions to open up its financial sector and transform Shanghai into an international financial centre.
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