The Shanghai Stock Exchange (SSE) is soon to list a kind of innovative fund product 50ETF as preparations for the launching work are near completion.

ETF, which stands for exchange traded fund, is a kind of open-end index fund that may be traded on the secondary market, - the exchange market, as well as being subscribed and withdrawn at the primary market, or the designated counters of the issuer in other words.

Launching of the SSE 50ETF is hailed as an important measure of financial innovation on the Chinese securities market and also a substantial move to carry forward the State Council's nine-point principles, put forward earlier this year, to develop the country's fledgling capital market.

It is understood that the SSE has already completed the preparatory work related to the technical system for trading the new fund product, and it is soon to issue related trading rules.

Huaxia Fund Management Company is expected to issue the first SSE 50EFT.

Source: Shenzhen Daily/Agencies