E Fund Management Marks First Anniversary of ETF Connect with Inclusion of Four ETF Products

HONG KONG,July 21,2023 -- E Fund Management ("E Fund" or the Company),the largest fund management company with offices in mainland China and Hong Kong,marks the first anniversary of the ETF Connect program by expanding its participation. With significant presence in the asset management industry,the Company continues to strengthen its role in this program with inclusion of four additional ETF products,namely E Fund SSE 50 ETF,E Fund STAR 50 ETF,E Fund CSI 1000 ETF,and E Fund CSI SEEE Carbon Neutral ETF. The expanded offerings became effective on July 17,2023.

This landmark program,which facilitates two way capital flows between mainland China and Hong Kong for eligible exchange-traded funds ("ETFs"),has played a pivotal role in deepening the integration of capital markets. Launched in July 2022,the ETF Connect was poised to include ETFs in the Stock Connect,which is often referred to as the mutual market access program. This allows Hong Kong and international investors to trade eligible ETFs listed in mainland China through Hong Kong securities firms,and reciprocally,mainland investors gain access to trade eligible Hong Kong-listed ETFs through local brokerages.

The ETF Connect has grown in both size and scope over the past year. According to Hong Kong Stock Exchanges,a total of 137 ETFs can be traded through the program starting from July 17,2023. As of July 14,2023,the total trading volume of Northbound ETFs — ETF investment flows from Hong Kong to the Mainland — amounted to approximately RMB53 billion (US$7.3 billion) since inception,while Southbound ETFs (from the Mainland to Hong Kong) reached a total trading volume of HK$382 billion (US$48.7 billion).

Lin Weibin,Headof Index Investment Department at E Fund Management said,"For overseas investors,the ETF Connect offers a convenient and efficient way to access China's A-share market. We will work to drive more products to be included in the program,providing international investors with an even broader array of investment opportunities."

E Fund joined the ETF Connect as early as its commencement in July 2022 and added three more ETFs in January 2023,covering the CSI Dividend,STAR and ChiNext 50,and MSCI China A50 indices. Now,with the latest expansion in July 2023,E Fund currently has 13 products available in the program.

About E Fund Management

Established in 2001,E Fund Management Co.,Ltd. ("E Fund") is a leading comprehensive fund manager in China with close to RMB 3 trillion (USD 414 billion) under management. It offers investment solutions to onshore and offshore clients,helping clients achieve long-term sustainable investment performances. E Fund's clients include both individuals and institutions,ranging from central banks,sovereign wealth funds,social security funds,pension funds,insurance and reinsurance companies,to corporates and banks. Long-term oriented,it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.

Source: E Fund AuM is preliminary estimation and includes subsidiaries. Data as of Jun 30,2023. FX rate is sourced from PBoC as at end of June,2023.