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South China Morning Post

South China Morning Post

Saudi Arabia opens doors to Hong Kong stocks with launch of 2 ETFs at month-end: SFC CEO

South China Morning Post
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Two exchange-traded funds (ETFs) tracking benchmarks in Hong Kong will be listed on Saudi stock exchange at end of this month.

Financial Secretary Paul Chan Mo-po will lead a delegation to the FII conference in Riyadh and to mark the launch of the ETFs.

SFC CEO Julia Leung Fung-yee visited Saudi Arabia in June to meet officials and discuss the potential listing of ETFs on each other's exchanges.

The number of Hong Kong -domiciled funds has risen from 157 in 1989 to 926 currently.

Net asset value of all SFC-authorised funds has jumped 49 times to US$1.76 trillion during the same period.

"Times have changed, but the mission of the SFC has not," Leung said.