China's ChiNext 50 ETF starts trading in Thailand via depositary receipts

China's ChiNext 50 Index began trading on the Stock Exchange of Thailand on Tuesday through depositary receipts (DRs), marking the first security product listed in the country that is linked to a Chinese exchange-traded fund (ETF), and the first time such a product has expanded overseas via DRs.

The listing features depositary receipts of the Invesco Great Wall ChiNext 50 ETF, which tracks leading Chinese firms in sectors such as new energy, advanced manufacturing and biomedicine. The product offers Thai investors a direct channel to invest in China's core high-tech enterprises.

At the opening bell at 10:00 local time, the product jumped more than four percent, with trading activity brisk.

"This provides Thai investors with an opportunity to directly participate in China's innovative and fast-growing sectors. It is also the first time that Thai investors can so conveniently enter China's capital market. The listing of depositary receipts not only broadens investment channels, but also strengthens cooperation between the Shenzhen Stock Exchange and the Stock Exchange of Thailand. It also shows both sides' commitment to promoting product connectivity," said Rinjai Chakornpipat, senior executive vice president and head of market division of the Stock Exchange of Thailand.

DRs can be simply understood as a kind of exchange voucher for foreign stocks or funds. In this listing of the ChiNext 50 ETF, each depositary receipt corresponds to one unit of the 50 ETF fund listed in Shenzhen.

Listing via DRs allows issuers to bridge differences in legal, regulatory and accounting standards between markets, enabling faster overseas access while trading like ordinary shares.

The Shenzhen Stock Exchange has promoted the listing of multiple ChiNext index products on more than 10 exchanges worldwide in recent years.

The debut of the ChiNext 50 Index in Thailand marks another successful step overseas, following its June 2024 launch on Europe's five major exchanges, and extends its reach into the Southeast Asia.

"Every cent traded by Thai investors on the Thai exchange is reflected in the size of the ChiNext 50 ETF listed in Shenzhen. In this way, overseas investors can help expand the domestic fund and can share in the returns through the growth of the stock, including dividends," said Wang Yang, general manager of ETF and innovation products at Invesco Great Wall Fund.

The Shenzhen Stock Exchange has also expanded ETF connectivity with Singapore and Brazil and enriched its ETF link with Hong Kong. As of the end of October, 14 cross-border ETF products had been launched, including five overseas ETFs listed in Shenzhen, with a combined scale of 3.28 billion yuan (about 463 million U.S. dollars).

China's ChiNext 50 ETF starts trading in Thailand via depositary receipts

Chinese Premier Li Qiang on Thursday presided over a State Council executive meeting that studied work on building a unified national market and reviewed and approved a plan for the development of a modern emergency response system during the 15th Five-Year Plan period (2026-2030).

Noting that building a unified national market is essential to advancing high-quality development, the meeting called for deepening institutional frameworks in areas such as property rights protection, market access, fair competition, social credit and market exit mechanisms.

The meeting also urged efforts to advance high-standard connectivity of market infrastructure to facilitate smooth economic circulation and effectively reduce logistics costs across society.

Emergency management is critical to protecting people's lives and property, the meeting said. It called for accelerating the development of a modern emergency response system, deepening reform and innovation in emergency management, and improving coordinated response mechanisms.

Efforts should be made to strengthen risk prevention at the source, enhance monitoring, forecasting and early warning, and accelerate a shift in governance toward proactive prevention, according to the meeting.

A draft revision of the Law on the People's Bank of China was also discussed and approved in principle at the meeting, which decided to submit the draft to the Standing Committee of the National People's Congress for deliberation.

Chinese premier chairs State Council executive meeting