Etf Program: Chinese Firm and Japanese Savers

etf program: China is pressing ahead with plans to allow more foreign investors into its market, including those from Japan, before Xi Jinping makes his first visit to the country as president for the Group of 20 summit in June, according to The Japan Times. The ETF program would allow some of the trillions of dollars stashed away by Japanese savers to flow into the world's best-performing stock market. Under the program, a Japanese or Chinese firm would create an ETF that mainly invests in the other country's listed ETFs, the Japan Exchange Group Inc. and Shanghai Stock Exchange said in a joint statement Monday. ; Nomura's asset management unit will partner with China Asset Management to participate in the project, Nomura Holdings Inc. said separately. The Shanghai Composite Index has risen almost 30 percent this year, the biggest gain among more than 90 global indexes tracked by Bloomberg. The ETF providers would need to obtain quotas under China's Qualified Foreign Institutional Investor or Qualified Domestic Institutional Investor programs. Inflows are expected to increase after global equity index provider MSCI Inc. said it will more than quadruple the weighting of China-listed equities in a benchmark index. (news.financializer.com). As reported in the news.