Policymakers in Hong Kong must act to strengthen its position as a regional hub for exchange traded funds or risk losing more ground to regional rivals, according to a government advisory body.
The warning by the Financial Services Development Council reflects concerns that competitors, including China, Korea, Taiwan and Singapore, have outpaced Hong Kong in their efforts to promote ETFs.
In a report published last month, the advisory body wrote: “Hong Kong’s leadership position has been overtaken by Japan and Shanghai as they have introduced more innovative products. Other leading overseas markets have also enhanced their ETF platforms recently, offering an even broader range of ETFs.”
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