PAAMC HK ETFs Join Stock Connect, Unlocking New HK-US Investment Routes

HONG KONG – April 24, 2026 – Ping An of China Asset Management (Hong Kong) Company Limited (PAAMC HK) is set to significantly broaden the investment horizons for mainland Chinese investors with the inclusion of two of its flagship Hong Kong-US equity exchange-traded funds (ETFs) in the Southbound Stock Connect scheme. The move, effective May 6, 2026, marks a pivotal moment in the ongoing financial integration between mainland China and Hong Kong, providing unprecedented access to a diversified mix of US equities through a familiar, RMB-denominated channel.

The two funds, the Ping An East‑West Select ETF (3477 / 9477) and the Ping An Technology Select ETF (3406/9406), will become available to qualified mainland investors, capitalizing on recent regulatory enhancements designed to expand the scope of the cross-border investment program.

A Widening Gateway for Mainland Capital

The inclusion of these ETFs was made possible by a strategic expansion of the Stock Connect program's eligibility criteria, jointly announced by the Mainland and Hong Kong exchanges. A key change, which took effect in mid-2024, was the decision to lower the required weighting of Hong Kong-listed stocks within an ETF's underlying benchmark index to no less than 60%. This adjustment from previous, more stringent requirements has paved the way for a new class of ETFs that offer more substantial exposure to overseas markets, such as the United States.

This regulatory evolution is part of a broader push to deepen capital market connectivity and reinforce Hong Kong's role as a premier international financial center. The Southbound Stock Connect has already proven to be a powerful conduit for capital, with average daily turnover growing from just HK$0.9 billion in its inaugural year of 2014 to HK$38.3 billion in the first three quarters of 2024. The consistent demand from mainland investors, evidenced by 15 consecutive months of net buying activity through September 2024, underscores the appetite for the diversification opportunities that these new products aim to satisfy.

"60/40‑style ETFs offer Mainland investors the opportunity to invest in overseas markets in RMB via Southbound Stock Connect," said Mr. Albert Wang, Head of Capital Markets and CIO of PAAMC HK, in a statement. He noted that the two new products are specifically engineered to meet distinct investor demands within the crucial HK-US equity allocation space.

Blending Growth, Income, and Technology

PAAMC HK's newly included ETFs are not generic index trackers; they are tailored instruments designed to address specific strategic objectives for modern portfolios. Each fund provides a unique lens on the world's two largest economies, allowing investors to choose between balanced income and growth or concentrated technological exposure.

The Ping An East‑West Select ETF aims to track the Solactive Global Pacific Select HKD Index NTR. It employs a sophisticated 'barbell' strategy that combines two distinct asset classes: high-dividend equities from the Hong Kong market and core blue-chip growth stocks from the United States. According to Mr. Wang, this structure is "designed to address investors' needs for diversified income and quality growth." This approach seeks to provide a stable income stream from established Hong Kong companies while simultaneously capturing the long-term appreciation potential of leading American corporations.

In contrast, the Ping An Technology Select ETF offers a more focused thematic investment. It seeks to mirror the performance of the Wind Technology Select Net Total Return Index (HKD), which comprises the largest and most influential technology companies listed in mainland China and the United States. This gives investors direct exposure to the engines of global innovation, including firms in cutting-edge sectors like artificial intelligence, internet services, semiconductors, smart vehicles, and advanced manufacturing. Mr. Wang highlighted that this ETF "provides focused exposure to leading listed technology companies... enabling investors to capture opportunities arising from AI-driven innovation."

Both products, he added, aim to "balance growth potential with resilient income, while maintaining low fees versus peers," a crucial competitive factor in the increasingly crowded ETF market.

Reshaping the Cross-Border Investment Landscape

The addition of these and other funds to the Stock Connect program is set to reshape the cross-border investment landscape. For mainland investors, it represents a significant step towards building globally diversified portfolios without the complexities of foreign currency exchange or opening overseas brokerage accounts. The ability to invest in US-listed giants through a Hong Kong-listed ETF using RMB is a game-changer for both retail and institutional players.

This expansion also intensifies the competitive environment within Hong Kong's thriving ETF market. PAAMC HK joins other major players like CSOP Asset Management, which also saw new ETFs included in the latest cohort. The growing number of products available through Stock Connect—which expanded from just four Southbound ETFs in 2022 to over 30 with this latest inclusion—is accelerating product innovation and putting pressure on fees, ultimately benefiting the end investor. This dynamic reinforces Hong Kong’s status as Asia’s premier ETF hub and a critical bridge between China’s vast pool of capital and global markets.

A Strategic Play for Ping An

This move by PAAMC HK is more than just a product launch; it is a clear reflection of the broader strategic vision of its parent, Ping An Insurance (Group) Company of China, Ltd. As one of China's largest financial conglomerates with a core philosophy of "finance + technology," the group has consistently sought to expand its asset management footprint and leverage its technological prowess.

By establishing its offshore platform, PAAMC HK, as a key provider of cross-border solutions, Ping An is positioning itself at the heart of the capital flows within the Greater Bay Area and beyond. The Ping An Technology Select ETF, in particular, is a direct manifestation of the group's corporate identity, offering investors a chance to participate in the very technological themes that Ping An champions in its own business strategy. This strategic alignment demonstrates a deep understanding of market trends and a commitment to providing innovative, relevant solutions that meet the evolving needs of a new generation of investors looking to navigate the interconnected global economy.