Global X Launches New China-Focused ETFs Today
December 1st at 6:30am by Tom Lydon
Global X has come out with a pair of first-of-their-kind exchange traded funds (ETFs) giving exposure to the consumer and industrial sectors in the growing Chinese economy.
The growing consumer base in China is the latest target for Global X’s newest ETF, debuting today. China is the world’s third-largest economy and is growing at a record fast pace. Meanwhile, larger steps are being taken to increase and ensure that domestic demand is plentiful and reduce reliance on foreign imports, reports Veronica Navarro Espinosa for Bloomberg.
Global X CEO Bruno del Ama says that the trends in Chinese consumption are very positive, thanks to a rapidly growing economy and a population that’s moving into a higher income bracket. (China at a crossroads).
According to the fact sheet, the Global X China Consumer ETF (NYSEArca: CHIQ) targets sportswear makers to department store operators, and spreads across 40 holdings. The breakdown respectively includes retail, food, consumer services, automobile, health care, beverages and personal and household goods.
Global X China Industrials (NYSEArca: CHII) will track the S-Box China Industrials Index and covers companies such as transmission companies to basic materials companies. Industry breakdown, across 31 holdings, includes engineering and construction, industrial equipment, transportation, bulding materials, and industrial services.
For more stories about new ETFs, visit our new ETFs category.
