Hong Kong Exchanges and Clearing Limited (HKEx) hosted a seminar today (Tuesday) on the listing of Exchange Traded Funds (ETFs) by Renminbi Qualified Foreign Institutional Investors (RQFIIs), which are allowed to invest renminbi (RMB) raised in Hong Kong in the Mainland’s securities market and offer RMB-denominated funds or other products linked to those investments.

HKEx Chief Executive Charles Li gave the opening remarks at today’s seminar.  There were also presentations on HKEx’s RMB products and market development, ETF market, as well as the listing, trading and clearing of RQFII ETFs.

About 160 guests attended the seminar, including representatives of ETF managers, potential RQFII ETF managers, securities market makers, participating dealers, custodians and other market participants.

The introduction of RMB products is one of the key initiatives in HKEx's strategic plan for 2010 to 2012.  HKEx believes RQFII ETFs will give investors more choice, contribute to the RMB’s internationalisation and enhance Hong Kong’s position as the leading offshore RMB centre.

There are currently 92 ETFs listed in Hong Kong.  According to data from the World Federation of Exchanges, HKEx’s ETF market turnover was Asia’s second highest in the first five months of this year.

The presentation materials from the seminar are available for viewing on the HKEx website. 

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