Hong Kong SFC authorized only the first track gold price of Exchange Traded Funds

Hong Kong SFC has authorized only the first track gold price of the Exchange Traded Fund (ETF) listed on the Stock Exchange of Hong Kong.

A gold ETF is to hold physical gold as its only assets related to the passive investment instruments, to provide investors with a need for physical gold settlement and can participate in the gold market summary investment channels.

Hong Kong SFC Miss Zhang Zhuohua, said: "Investor interest in the commodity markets increasing, we and the industry has cooperated very closely, so that the different commodity-related products in Hong Kong to become available in the market."

Zhang Zhuo, added: "Promoting the development of a broad range of products is the focus of work of the SFC. Hong Kong launched its first retail only gold ETF, and we are happy." (Chiang)

Source: China Securities News