The Commerzbank CCBI RQFII Money Market UCITS ETF will be listed on Euronext, which is the primary exchange in the eurozone.
This comes alongside news that Euronext has signed a Memorandum of Understanding (MOU) with the China Construction Bank to enhance the bank’s access to European capital markets.
It is expected that the cooperation between the two companies, driven by the MOU, will further push forward renminbi internationalisation, and will allow Paris to become an offshore renminbi business centre, and will pave the way for Chinese enterprises to come to Europe for finance, investment and commodities trading.
“The cooperation with Euronext marks another important historical milestone,” said Hongzhang Wang, the chairman of the board of directors at CCB.
“We believe this will provide our clients with additional channels to invest in Euronext Paris, it will also encourage an extensive use of renminbi products by French enterprises, financial institutions and investors, and ultimately drive the internationalization of the renminbi.”
The ETF – which is available for trading in both renminbi and euros – offers investors exposure to the interbank bond market in mainland China.
Interim chief executive of Euronext Jos Dijsselhof said: “The renminbi is increasingly used in cross-border transactions so this is an exciting step for Euronext as we continue to develop our offer in renminbi denominated products and welcome Chinese investors to our market.”
Euronext now offers a total of 646 ETFs on its pan-European markets.
CCB International Asset Management is the asset management arm of CCB International, the leading commercial bank in China.