iShares FTSE/Xinhua China 25 Index Fund is an ETF tracking the underlying index. The index was designed jointly by FTSE and Xinhua as one of the FTSE Xinhua Indices Series for international investors. [1] The ETF is issued under the iShares series. The Index is designed to represent the performance of the largest companies in the China equity market that are available to international investors. The Index consists of H Shares and Red Chip Shares of 25 of the largest and most liquid Chinese companies.
Many constituents have ADRs listed on NYSE. In 2006 and 2007, many of them (such as LFC, PTR) offered IPO in Shanghai's A Shares market. The triple listing (Shanghai, Hong Kong, New York) represents one of most complicated arbitrage arrangement in the international stock market.