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China’s “New” Economy is Official

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China’s “New” Economy is Official. While the idea that China is redefining the nature of its economy has become a familiar economic theme, it may not be unanimous among market participants that the transformation is indeed imminent. Recent developments, however, strengthen my conviction in the "new" economy future of China and the role of the SME (Small and Medium Enterprise) and ChiNext Boards in facilitating the growth at hand.

China’s “New” Economy is Official. While the idea that China is redefining the nature of its economy has become a familiar economic theme, it may not be unanimous among market participants that the transformation is indeed imminent. Recent developments, however, strengthen my conviction in the ”new” economy future of China and the role of the SME (Small and Medium Enterprise) and ChiNext Boards in facilitating the growth at hand.

Only last month on March 16, China’s National People’s Congress approved the 13th Five-Year Plan that the Communist Party presented back in October 2015. The remarks of the Chinese Premier Li Keqiang in announcing the new plan further inspire my enthusiasm: ”China has initiated the concept of ’new economy’ to foster new growth drivers for overall economy transformation.” His subsequent statement is even more auspicious: ”The campaign of mass entrepreneurship and innovation provides a platform for large, medium and small businesses and research institutions to have a broad space for crowd innovation, crowdfunding and crowdsourcing.”

New Government Policies are Extremely Supportive

Though this news may not sound entirely new, given a similar announcement made in early February by top economic planner Shen Zhulin, we believe the premier’s imprimatur will effectively underscore and publicize the seriousness of the administration’s intent to transition from its ”old” economy to the ”new” one. There are more than ”2,000 supportive policies for new businesses from central and local authorities” supporting our view that China means business.

Providing access to 1,282 of China’s 2,828 A-share listed companies, the SME and ChiNext Boards of the Shenzhen Stock Exchange are crucial players in China’s economic evolution, though the number of new enterprise registrations in China (4.4 million in 2015 or a whopping 12,000 a day) far exceeds the breadth of these two platforms. The SME Board, which now serves 782 listed companies, was inaugurated on May 27, 2011 with the objective of ”supporting innovation” with ”many high quality innovative issuers.”1 Alongside it in Shenzhen, the ChiNext Board (totally independent from the main board) aims to provide ”solid support for the development of independently innovative enterprises.” We see the two boards as delivering on their promises; they represent big steps in China’s establishment of ”a multi-tiered capital market system” and offer exposure to the businesses that have driven the majority of recent technological innovation and ”new” economy growth in China. Arguably these companies provide some of the most convenient access to the drivers of China’s new economy.

The Transition from ”Old” to ”New” is Well Underway

While the transition from an ”old,” production-driven model to the ”new,” consumer and service-led economy will certainly not occur overnight, there are some notable indications that it is well underway. During the first two months of the year, state-owned enterprises saw profits fall 14.5% year-over-year while privately owned enterprises grew profits 5.4% during the same period. Furthermore, companies listed on the SME and ChiNext Boards experienced bottom line growth of 32% and 46% year-over-year, respectively. The IT, consumer discretionary, and healthcare sectors that characterize the ”new economy” all saw double digit percentage increases in profit growth as compared to 2015 performance. The emergence of the ”new” economy is more than a mere concept or official policy; it is, in my opinion, already coming to fruition.2

CNXT Gives Investors Access

Participating in China’s potential growth is possible via several VanEck ETFs that provide differentiated access to the Chinese capital markets. In particular, VanEck Vectors™ ChinaAMC SME-ChiNext ETF (NYSE Arca: CNXT) seeks to track an index that is designed to hold the 100 largest and most liquid China A-share stocks listed and trading on the SME and ChiNext Boards of the Shenzhen Stock Exchange.

Authored by James Duffy, Product Manager, ETFs

ETFs is authored by VanEck thought leaders. VanEck is the sponsor of VanEck Vectors ETFs and is currently among the largest providers of exchange traded funds (ETFs) in the U.S. and worldwide. VanEck Vectors ETFs empower investors to help build better portfolios with access to compelling investment themes and strategies. Our ETFs span many global asset classes, and are built to be transparent, liquid, and pure-play reflections of target markets.

IMPORTANT DISCLOSURE

1 Source: China Daily, March 11, 2016.

2 Financial Times, ”China earnings season reflects two-track economy,” April 3, 2016.

This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.

The Fund is subject to risks which include, among others, those associated with investments in Chinese securities, particularly A-Shares, adviser and sub-adviser risk, risk of the RQFII regime, political and economic instability, inflation, confiscatory taxation, nationalization, expropriation, and market volatility, all of which may adversely affect the Fund. Foreign and emerging markets investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, changes in currency exchange rates, unstable governments, and limited trading capacity which may make these investments volatile in price or difficult to trade. Small and medium-capitalization companies may be subject to elevated risks. The Fund’s assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

Fund shares are not individually redeemable and will be issued and redeemed at their Net Asset Value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called ”creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.

Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.

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Bitwise noterar börshandlad produkt på NEAR på Xetra

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Bitwise NEAR Staking ETP ger investerare tillgång till NEAR-kryptovalutans utveckling i kombination med en staking-belöning. Staking gör det möjligt för kryptoinnehavare att tjäna belöningar. För detta ändamål är mynten låsta på blockkedjan för att validera nätverkstransaktioner. Investerare kan använda denna metod inte bara för att delta i kryptovalutans utveckling, utan också för att dra nytta av respektive staking-intäkter. Krypto-ETNen kan handlas i valutorna euro och amerikanska dollar.

Bitwise NEAR Staking ETP ger investerare tillgång till NEAR-kryptovalutans utveckling i kombination med en staking-belöning. Staking gör det möjligt för kryptoinnehavare att tjäna belöningar. För detta ändamål är mynten låsta på blockkedjan för att validera nätverkstransaktioner. Investerare kan använda denna metod inte bara för att delta i kryptovalutans utveckling, utan också för att dra nytta av respektive staking-intäkter. Krypto-ETNen kan handlas i valutorna euro och amerikanska dollar.

Franklin US Treasury 0-1 Year UCITS ETF investerar i amerikanska statsskuldväxlar, statsobligationer och statsskuldväxlar med en återstående löptid mellan en och tolv månader.

Rex Crypto Equity Income & Growth UCITS ETF förvaltas aktivt och investerar i en portfölj av företag som är verksamma inom digitala affärsområden som kryptotillgångsutvinning, handel, förvaring, blockkedjeteknikutveckling och digitala betalningslösningar. Ytterligare intäkter genereras genom att använda optionsstrategier, såsom covered call- eller covered call-spreadstrategi.

Rex Tech Innovation Income & Growth UCITS ETF förvaltas aktivt och investerar i en portfölj av företag från teknikrelaterade branscher som halvledare, IT-tjänster, elektroniska komponenter och programvara. Dessutom genereras intäkter genom utdelningar och optionspremier för 50 procent av de företag som ingår i portföljen. Beroende på marknadsförhållandena genereras optionspremierna från strategin covered call eller covered call spread.

Rex Tech Innovation Premium Income UCITS ETF tillämpar en aktiv investeringsstrategi och investerar i en portfölj av företag inom tekniksektorn. Dessutom genereras intäkter genom utdelningar och optionspremier för alla företag i portföljen. Beroende på marknadsförhållandena genereras optionspremierna från strategin covered call eller covered call spread.

NamnISIN
Kortnamn
AvgiftUtdelnings-
policy
Bitwise NEAR Staking ETP DE000A4A5GV2
NEAR (EUR)
NEAS (USD)
0,85%Utdelande
Franklin US Treasury 0-1 Year UCITS ETF USD (Acc)IE000E02WFD5
SHOR (EUR)
0,05%Ackumulerande
Rex Crypto Equity Income & Growth UCITS ETFIE0008BA4TY1
ASWM (EUR)
0,65%Utdelande
Rex Tech Innovation Income & Growth UCITS ETFIE000OBK3UE0
ASWL (EUR)
0,65%Utdelande
Rex Tech Innovation Premium Income UCITS ETFIE000HF69TA9
ASWK (EUR)
0,65%Utdelande

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 478 ETFer, 202 ETCer och 261 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.

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CBDE ETF investerar i amerikanska företagsobligationer

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Amundi USD Corporate Bond UCITS ETF EUR Hedged Acc (CBDE ETF) med ISIN LU2977997381, försöker att följa Bloomberg US Corporate Liquid Issuer (EUR Hedged) index. Bloomberg US Corporate Liquid Issuer (EUR Hedged) index följer utvecklingen av företagsobligationer denominerade i amerikanska dollar. Rating: Investment Grade. Valutasäkrad till euro (EUR).

Amundi USD Corporate Bond UCITS ETF EUR Hedged Acc (CBDE ETF) med ISIN LU2977997381, försöker att följa Bloomberg US Corporate Liquid Issuer (EUR Hedged) index. Bloomberg US Corporate Liquid Issuer (EUR Hedged) index följer utvecklingen av företagsobligationer denominerade i amerikanska dollar. Rating: Investment Grade. Valutasäkrad till euro (EUR).

Den börshandlade fondens totala kostnadskvot (TER) uppgår till 0,09 % per år. Amundi USD Corporate Bond UCITS ETF EUR Hedged Acc är den enda ETF som följer Bloomberg US Corporate Liquid Issuer (EUR Hedged) index. ETFn replikerar utvecklingen av det underliggande indexet genom urvalsteknik (genom att köpa ett urval av de mest relevanta indexkomponenterna). Ränteintäkterna (kupongerna) i ETFen ackumuleras och återinvesteras.

Den börshandlade fonden lanserades den 4 mars 2025 och har sitt säte i Luxemburg.

Handla CBDE ETF

Amundi USD Corporate Bond UCITS ETF EUR Hedged Acc (CBDE ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel  Nordnet, SAVR, DEGIRO och Avanza.

Börsnoteringar

BörsValutaKortnamn
gettexEURCBDE
XETRAEURCBDE

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AXA lanserar inflationslänkad obligations-ETF

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AXA IM Global Inflation-Linked Bond Opportunities UCITS ETF förvaltas aktivt och investerar minst 50 procent av sina tillgångar i inflationslänkade obligationer utfärdade av OECD-länder. Resten kan flexibelt investeras i andra OECD-obligationer för att hantera inflationsexponering. Investerare kan handla ETFen i euro eller amerikanska dollar.

AXA IM Global Inflation-Linked Bond Opportunities UCITS ETF förvaltas aktivt och investerar minst 50 procent av sina tillgångar i inflationslänkade obligationer utfärdade av OECD-länder. Resten kan flexibelt investeras i andra OECD-obligationer för att hantera inflationsexponering. Investerare kan handla ETFen i euro eller amerikanska dollar.

NamnISIN
Kortnamn
AvgiftUtdelnings-
policy
AXA IM Global Inflation-Linked Bond Opportunities UCITS ETF – USD AccumulationIE000J4FE268
ACPH (EUR)
ACPI (USD)
0,20%Ackumulerande

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 479 ETFer, 202 ETCer och 261 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.

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