BEIJING, May 27 (Xinhua) -- In a significant development for international finance, an exchange-traded fund (ETF) that tracks the ChiNext, China's Nasdaq-style board for growth enterprises, has successfully been listed on Brazil's stock exchange, B3. This announcement from the Shenzhen Stock Exchange (SZSE) marks a key milestone in the landscape of global capital markets.

The listing of this ETF signifies the official launch of the ETF Connect program, which establishes a new phase of collaboration between the SZSE and B3. This initiative is expected to enhance capital market cooperation between China and Brazil, paving the way for broader financial integration.

The groundwork for this partnership was laid in March, when the two stock exchanges signed a Memorandum of Understanding regarding ETF Connect cooperation. This agreement is seen as a practical step toward realizing the outcomes of the 7th meeting of the China-Brazil High-Level Coordination and Cooperation Committee.

ETFs, or exchange-traded funds, are open-end funds that are listed and traded on stock exchanges. They invest in a portfolio of securities that mirror specific indices or other underlying assets, according to the guidelines established by the fund's contract.

Historically, the launch of ETFs that track the ChiNext indexes has gained traction across various global markets, including notable financial centers such as the United States, the Republic of Korea, Singapore, and regions within Europe. This trend highlights the growing interest in China’s innovative enterprises.

Looking ahead, the Shenzhen Stock Exchange has articulated plans to further expand cross-border cooperation in financial markets. This initiative includes enhancing market connectivity and advancing institutional openness, all aimed at supporting high-quality economic development.