Global X Management Company, the New York-based asset manager, has expanded its range of Chinese exchange traded funds with an ETF focusing on the country’s technology sector.

The launch of the Global X China Technology ETF unites two prominent themes in wealth management: the growth of the ETF market has been remarkably rapid over recent years and the Chinese growth story is currently top of the investment agenda.

The Global X China Technology ETF is designed to replicate the S-BOX China Technology Index. According to figures at the end of November internet companies represented 51 per cent of the index, telecommunications 28 per cent, and hardware & software firms 20 per cent.

Global X Management cites some impressive figures when assessing the potential for the Chinese technology sector’s growth. According to the firm China boasts 600 mobile phone users and 300 million internet users – and there is still room for continued rapid growth, particularly in web usage. Internet users rose by 13.5 over the last year, and as yet only a quarter of China’s population are using the web, Global X said.

"China is driving its efficient manufacturing and rapidly expanding consumer base into higher value, technology-based products and services," Bruno del Ama, Global X Management’s chief executive, said in a statement.