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By Zhao Runhua / Feb 12, 2019 02:14 PM / Economy

Photo: VCG

Photo: VCG

Leading index complier MSCI has decided to add more Chinese companies to its major indexes, giving Chinese securities a bigger voice in global capital markets.

MSCI announced Monday that 12 securities will be added to the MSCI Global Standard Indexes’ China Index: the Aluminum Corporation of China A, Bilibili ADR Z, Foxconn Industrial Internet, Guanghui Energy A, Huaxi Securities A, iQiyi ADR A, Meituan Dianping B, Pinduoduo ADR A, SDIC Capital A, Tencent Music A ADR, Xiaomi Corp. B, and ZTO Express ADR A. The company did not remove any companies from the China Index.

By market capitalization, Foxconn Industrial Internet, Meituan Dianping and Xiaomi will be the three largest additions to the MSCI Emerging Markets Index, according an MSCI statement.

In September 2018, MSCI proposed increasing the weight of large-cap Chinese A-shares in its indexes to 20%. It will increase the weight in two phases this year, one in May and one in August. MSCI said the initial 5% weight “provided strong evidence of positive market accessibility” and would thus like to expand. 

Related: S&P Dow Jones Names China Stocks for Inclusion in Global Indexes

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