Claymore Launches China Technology ETF Today
December 8th at 6:30am by Tom Lydon
Claymore is quickly growing its new line of China-focused exchange traded funds (ETFs). The provider’s newest launch is aimed squarely at China’s technology sector.
The launch of the Claymore China Technology ETF (NYSEARca: CQQQ) is the first ETF to focus on the Chinese technology sector. The addition of CQQQ brings Claymore’s suite of China-focused ETFs to four:
- China Technology (NYSEArca: CQQQ)
- China All-Cap (NYSEArca: YAO)
- China Small-Cap (NYSEArca: HAO)
- China Real Estate (NYSEArca: TAO)
The successful launch of our YOA in October, which posted record first-day volume for U.S.-listed ETFs launched in 2009, confirmed investor appetite for China investments. (Where the BRICs are today).
The tech sector in China is an area that appears poised for continued growth in the coming years. Despite a challenging worldwide economic environment, China is predicted to claim the world’s highest GDP growth in both 2009 and 2010. It is expected that this growth may result in a substantial increase in China’s technology demands. Approximately $54 billion of China’s $585 billion stimulus package is being allocated to technology advancements, with a new focus on high-end production. (China’s reverse brain drain is their gain).
Claymore isn’t done with China just yet: the provider also has funds focused on Chinese consumers and infrastructure in the pipeline. (Read about Claymore’s plans here).
China’s rapid growth this year has led to increased interest in ETFs that cover the space. Fund provider Global X launched Chinese consumer and industrial ETFs last week. (Read about Global X’s new launches).
For more stories about new ETFs, visit our new ETFs category.
