China, HK regulators approve first products under ETF cross-listing system


HONG KONG, Aug 28 (Reuters) - Financial regulators in Hong Kong and mainland China have authorised the first exchange-traded Funds (ETFs) under a new cross listing arrangement, a statement from Hong Kong's Securities and Futures Commission said on Friday.

The new arrangement will allow mainland China investors to trade ETFs listed in Hong Kong, and international investors to trade mainland China-listed ETFs.

It is the latest of a series of schemes linking the two markets, the most significant of which are the "Stock Connects" linking mainland and Hong Kong stock exchanges.

Friday's statement said that the SFC had approved two Hong Kong ETFs which will each invest at least 90% of their assets in a Shenzhen-listed ETF.

The China Securities Regulatory Commission has also approved two Shenzhen-listed ETFs which will each invest in Hong Kong listed ETFs.

The statement did not name the products.

(Reporting by Alun John; editing by David Evans)

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