Mirae Asset announces Launch of Global X China Robotics & AI, Semiconductor ETFs in Hong Kong
Mirae Asset Global Investments (Hong Kong) (Mirae Asset) has announced the launch of Global X China Robotics & AI ETF and Global X China Semiconductor ETF in Hong Kong under the ‘Global X by Mirae Asset’ brand.
The two China-focused thematic ETFs will be available to retail and institutional investors, enabling them to gain targeted exposure to Chinese companies across sectors that stand to benefit from increased adoption of robotics and Artificial Intelligence (AI) in China as well as transformative changes that are currently underway in the Chinese semiconductor industry, Mirae Asset said in a press release.
Units for the two ETFs will begin trading today on the Hong Kong Stock Exchange (HKEX) in both HK dollars and US dollars. The ‘Global X China Robotics & AI ETF’ has tickers of 2807 (HKD counter) and 9807 (USD counter) and the tickers for ‘Global X China Semiconductor ETF’ are 3191 (HKD counter) and 9191 (USD counter).
Global X China Robotics & AI ETF seeks to capture Chinese leaders in robotics and AI. Faced with a declining workforce and rising labour costs, China is increasingly looking to robotics and AI to safeguard its manufacturing competitiveness. Smart robots and AI have seen significant growth in adoption in China in recent years as technological advances have lowered costs and paved the way for robotics to enter into a wide range of new industries. As the Chinese government looks to transform the country from a traditional manufacturing economy to a high-tech superpower, robotics and AI adoption will be at the heart of this transformation.
Global X China Semiconductor ETF offers exposure to China’s semiconductor industry, which is currently undergoing transformative change. With US-China tensions intensifying, China is determined to foster a self-sufficient and globally competitive domestic chip industry. Heavy spending on research and development, significant state subsidies, and a major recruitment drive to attract talent have helped the country’s homegrown chipmakers grow rapidly in recent years. With China making bold strides in the development of next generation technologies such as robotics, internet of things, 5G and autonomous driving, which all depend on advanced chips as an essential technological component. China’s status as the world’s largest consumer of semiconductors is likely to continue and its domestic companies are poised to benefit.
Jung Ho Rhee, Chief Executive Officer, Hong Kong, Mirae Asset Global Investments, said: “Robotics, AI and semiconductor production are interconnected components that will play a key part in China’s tech transformation, driving economic growth. The launch of the new ETFs – ‘Global X China Robotics & AI ETF’ and the ‘Global X China Semiconductor ETF’ - offers investors efficient access to the themes, as well exposure to the vast potential of China’s technology sector. This demonstrates our continued commitment to offering alpha-seeking investors unique and innovative ETF products and investment solutions that exploit the disruptive trends of tomorrow.”