中文字幕网在线_欧美国产一区二区三区_三级av_国产精品免费一区二区_国产2区_日韩精品一区二区三区中文在线

Anyone wanting to speculate on demand for baijiu in China can now do so via an EFT (Exchange Traded Fund) launched on the Honk Kong stock market.

Bloomberg reports that E-Fund Management has listed its E-Fund CSI Liquor Index EFT which will follow the CSI Liquor Index and is denoted in US dollars.

It will contain shares listed in both Shenzhen and Honk Kong of companies that derive the majority of their revenue from the production and distribution of alcohol. In effect that means baijiu, which comprises about 95% of all alcohol consumption in China.

At the end of last month the fund contained 18 shares with the largest positions being Wuliangye Yibin (16.1%), Luzhouy Lao Jiao (15.6%), the world’s biggest alcohol group Kweichow Moutai (14.4%), Shanxi Xinghuacun Fen Wien Factory (14.3%) and Jiangsu Yanghe Brewery (11%).

Shares of baijiu groups have grown in value rapidly over the past seven years – Kewichow overtook Diageo in value in 2017 – but they are subject to wide oscillation and vulnerable to legislative changes both from Beijing and local governments.