In September 2024, the Saudi Capital Market Authority (CMA) approved the first exchange traded funds (ETFs) tracking equities listed in Hong Kong, which were listed in October 2024. Previously, two ETFs listed in China tracked Saudi Arabia’s largest companies. Additionally, the Saudi Tadawul Group (Tadawul) signed memorandums of understanding with the Shanghai Stock Exchange, Shenzhen Stock Exchange and Hong Kong Exchanges and Clearing Limited in 2023, exploring the possibility of cross-listing.