New Listing of 'SOL China Solar CSI (Synthetic) ETF'
[Asia Economy Reporter Junho Hwang] The first domestic 'Exchange-Traded Fund (ETF)' investing in China's solar power industry, which holds a dominant position in the global solar market, has been launched.
Shinhan Asset Management, which aims to be an ESG (Environmental, Social, Governance) asset manager, listed the 'SOL China Solar CSI (Synthetic) ETF' on the Korea Exchange on the 22nd.
This product is the first solar power industry investment ETF introduced in Korea. It is a product that focuses on investing in Chinese solar power value chain companies, including 'Yongqi Silicon Materials,' the world's number one comprehensive solar power company with vertical integration from wafer, cell, and module production to power plant construction, and 'Tongwei,' the world's leading polysilicon producer.
China's solar power industry holds the highest market share globally. It accounts for 92% of the wafer segment and over 80% each in the cell and module segments within the solar value chain. In particular, the Chinese government announced through the 4th Five-Year Plan (2021?2025) that it will increase the share of non-fossil energy (clean energy such as nuclear power and hydrogen) in total energy consumption from 15.8% last year to 20% by 2025.
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Kim Jeonghyun, head of the ETF Management Center at Shinhan Asset Management, explained, "The key to future investments in China is to check whether the industry is being fostered by government policy and whether continuous growth is expected." He added, "The solar power industry is a representative industry nurtured by China and is expected to grow at an average annual rate of over 20% based on overwhelming global competitiveness." He further stated, "This product will be an investment asset that can provide mid- to long-term alpha returns within investors' China portfolios," and added, "It is worth considering investment with a longer-term perspective through retirement pensions."
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