It is said that it has happened for the first time that exchange-traded funds has been launched by China and that too in Yuan denomination. This has led China's investors to trade shares, as well as keep a track on Hong Kong stocks.
Experts were of the view that the move is considered to be quite promising. It is so because as it has happened for the first time that such liberalization has provided to the country's financial sector. It is now a hidden fact that China works in a controlled financial sector, and a way was needed to bring a change.
The change was aimed to bring improvements in the economic growth of the country. Experts were of the view that they are hopeful that China's domestic stock market, which is currently passing through difficult times will be able to improve its condition.
Xu Yinhui, who is an analyst with Guotai Junan Securities Copetaion, was of the view that the new policy seems to be quite promising. It is now has to be seen that who takes benefit from the same.
"Whether China will give the go ahead for more cross-border ETFs may depend on the pace of the opening up of its domestic markets", said experts.
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