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China plans to launch Shanghai-Shenzhen 300 ETF index

By Bi Xiaoning and Zheng Lifei (chinadaily.com.cn)
Updated: 2009-03-07 17:31

Shanghai Stock Exchange is planning to introduce the Shanghai-Shenzhen 300 ETF index this year, which will become the underlying index for the index futures, a top exchange official said Saturday.

Shanghai Stock Exchange is also planning to develop other industry-specific ETF indices and a bonds ETF index, said Geng Liang, chairman of Shanghai Stock Exchange.

The Shanghai-Shenzhen 300 ETF index, jointly developed with Shenzhen Stock Exchange, covers China's main stocks traded in the two exchanges, Geng said.

An ETF is an open fund traded on stock exchanges, with its value going up or down simultaneously with a certain index.