Chinese insurer Ping An eyes Hong Kong ETFs as Beijing greenlights cross-border investment
China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth
“Allowing mainland insurance funds to invest in Hong Kong listed ETFs is set to tighten the ties between Hong Kong and the mainland capital market,” said Richard Sheng, secretary of the company’s board, after a press conference on Friday. “We will consider various opportunities, including Hong Kong ETFs, in our insurance allocation strategy.”
The National Financial Regulatory Administration (NFRA) voiced support on Tuesday for insurance funds investing in ETFs through the Stock Connect schemes, which allow cross-border trading between the mainland China and Hong Kong financial markets.
The average daily turnover of ETFs – index funds that track certain stocks – in Hong Kong reached HK$40.6 billion (US$5.2 billion) in the first seven months of 2026, up 22 per cent from a year earlier, according to Hong Kong stock exchange data.
“Many Hong Kong ETFs offer exposure to non‑Hong Kong and non‑mainland assets, including overseas investments and various thematic strategies,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of Financial Analysts and Professional Commentators. “This can enrich mainland insurers’ investment instruments and strategies, potentially boosting returns without them having to rely solely on Hong Kong or mainland markets.”
For Hong Kong’s ETF market, the benefit was “even more obvious”, he said, as insurance capital was typically long‑term and stable, helping to reduce market volatility.