The Hang Seng Index Company and SZSE Information Technology jointly launched the Greater Bay Area Consumption Index

The Hang Seng Index Company and SZSE Information Technology jointly launched the Greater Bay Area Consumption Index. The newly introduced National Index Hang Seng Greater Bay Area Consumption Index (SZHKCON) can track the overall performance of companies in the Greater Bay Area related to the manufacturing and services of daily consumer goods.

The index's stock selection scope includes qualified A-shares traded under the Stock Connect on the Shenzhen Stock Exchange and securities listed on the Hong Kong Stock Exchange. The index is weighted by market capitalization, with a weight limit of 10% for constituent companies. The number of constituent companies is fixed at 50 and is reviewed every six months, with adjustments made quarterly.

Top ten constituent stocks:

Gree Electric Appliances (000651.SZ)

Midea Group (000333.SZ)

TCL Technology (000100.SZ)

Techtronic Industries (00669.HK)

WH Group (00288.HK)

Smoore International (06969.HK)

China Resources Beer (0291.HK)

Chow Tai Fook (01929.HK)

MINISO (09896.HK)

Budweiser APAC (01876.HK)

Although China focuses on consumption to drive economic growth, consumption is expected to account for only 40% of China's GDP in 2024. This proportion is still below the average level of 73% in major countries, reflecting that its consumption market still has room for sustained growth. Notably, the 2025 Government Work Report reiterated the focus on promoting the construction and consumption of the Guangdong-Hong Kong-Macao Greater Bay Area. According to Wind data, the total retail sales of consumer goods in China for 2024 is expected to reach RMB 48.789 trillion, with the 11 cities in the Greater Bay Area accounting for 8.8%