Exchange traded fund providers on the Shanghai and South Korean stock exchanges will now be able to sell their products directly to investors on the other market, after an agreement was reached to set up a cross-border ETF link, reported the Financial Times.
Through a video link last week, the general manager of the Shanghai Stock exchange, Cai Jianchun, and the chair and chief executive of the Korea Exhchange, signed a memorandum of understanding.
“The demand for overseas investment has driven in-depth co-operation between China and South Korea’s capital market industries,” the Shanghai Stock Exchange said in the announcement.
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