On September 9, 2026, E Fund Management partnered with Krungthai Bank, a major state-backed commercial bank in Thailand, to list four depositary receipts (TDRs) simultaneously on the Stock Exchange of Thailand (SET). These TDRs are linked to four domestic ETFs managed by E Fund, offering Southeast Asian investors a convenient new channel to allocate to Chinese assets—a move that not only underscores the continued expansion of E Fund's international business but also reflects growing overseas confidence in China's economic prospects.
The four TDRs track ETFs covering the CSI 300, STAR 50, ChiNext, and a thematic artificial intelligence index. Specifically, the CSI 300 ETF (510310) anchors China's economic core assets with a focus on large-cap blue-chip value; the STAR 50 ETF (588080) delves into hard technology and self-reliance; the ChiNext ETF (159915) captures growth and innovation momentum, targeting new-economy leaders; and the AI ETF (159819) precisely targets the frontier of the AI industry chain.
Together, these four TDRs span from China's large-cap core assets to growth innovation, hard tech, and the AI supply chain, forming a multi-layered investment map that gives Thai investors differentiated choices—from broad-based allocation to thematic plays. According to publicly available information, this marks the first time Thailand's market has simultaneously launched four TDR products tied to China-listed ETFs.
TDRs are securities instruments established by the SET to facilitate local trading of overseas assets. Priced in Thai baht and listed directly on the SET secondary market, they allow local investors to purchase TDRs backed by China-listed ETFs using their existing Thai stock accounts—without needing to open a separate securities account in mainland China. Through the cross-border conversion mechanism between TDRs and ETFs, the two markets are interconnected, significantly boosting the convenience for Thai investors to participate in China's capital markets.
E Fund Management, the largest public fund manager in China by assets under management, is a pioneer and leader in the ETF space. Leveraging deep research capabilities and forward-looking positioning, the firm has built a comprehensive index product matrix spanning broad-based benchmarks, industry themes, style factors, cross-border, bonds, money market, and commodities, with both ETF product count and scale ranking among the industry's top tier.
The introduction of E Fund's flagship products to the Thai market represents a significant step in the company's steady advancement of its globalization strategy and its commitment to serving global investors' demand for China exposure. Looking ahead, E Fund will continue to leverage interconnectivity mechanisms and deep collaboration with overseas institutions, enriching the tools and pathways for international investors to access China, while supporting a high-level, two-way opening of China's capital markets.