(Yicai Global) March 23 -- The Shanghai Stock Exchange has seen rapid growth despite the coronavirus outbreak last year. And the market value of exchange traded funds listed on the SSE passed CNY1 trillion (USD153.6 billion), according to a report by the ETF Group.

The ETF Group is a WeChat account of the SSE.

The Shanghai bourse maintained its dominant position in the domestic ETF market last year, with 260 ETF products listed by 48 ETF managers and a market value reaching CNY900.4 billion (USD138.3 billion), up 51 percent from 2019, , the report said.

The market scale accounted for 81.9 percent of the total domestic ETF market.

The annual turnover of ETFs totaled CNY10.68 trillion (USD1.6 trillion) in Shanghai last year, an increase of 56.6 percent from 2019, and accounted for 82.2 percent of the total turnover of the domestic ETF market, it added.

The number of Shanghai market accounts holding ETFs passed 4 million in 2020, and the number of the accounts participating in ETF transactions totaled over 6 million. The number of Shanghai market ETF accounts doubled compared with 2019.

A large number of innovative ETFs were issued in Shanghai last year.

The first batch of four Star Market 50 ETFs was issued last November. Four asset managers, China Asset Management, E Fund, Huatai-PineBridge Investments and ICBC Credit Suisse Asset Management listed this batch of ETFs.

The ETFs have been much sought after since their issuance, with subscription funds totaling more than CNY100 billion, from 1.5 million subscription accounts. The four ETFs adopted proportional allotment for the first time, with an initial offering of more than CNY21 billion.

In addition, the first batch of four Shanghai gold ETFs were issued last year. GF Fund Management, Fullgoal Fund, CCB Principal Asset Management and Bank of China Investment Management were the issuers.

With an initial offering of over CNY1.5 billion, the yellow metal ETFs provided a new tool for ordinary investors to participate in Shanghai gold investment and activating Shanghai gold spot product transactions.

The first convertible bond ETF, the Bosera CSI Convertible Bond and Exchangeable Bond Index ETF, was issued last year as well, with an initial offering of more than CNY600 million (USD92 million). This gave investors an opportunity to participate in innovative bond transactions on the Shanghai market.

The first ETF tracking France’s CAC40 index was also listed last year. The CAC40 ETF, the first domestic ETF tracking mainstream indexes in the French market, was successfully listed in Shanghai, providing convenience for domestic investors to allocate overseas assets.

Editor: Peter Thomas