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(Bloomberg) China is set to post the fastest growth in Asia for environmental, social and governance investments after the country boosted exchange-traded fund assets 18-fold in the past two years, according to estimates from Bloomberg Intelligence.China’s push for renewable energy and electric vehicles will spark more fund flows into ESG-related ETFs, contributing to a 20% growth in assets across Asia this year, according to BI analyst Esther Tsang.”We are seeing a surge there,” Tsang said. “China is going to dominate.”Even with the asset growth in the past two years, China only accounts for a little over 10% of Asian ESG ETF assets under management. Japan leads the pack, accounting for about 80% of the $40 billion in ESG funds that trade on exchanges. Asia lags behind North America and Europe, accounting for less than a fifth of the $218 billion in global ETFs in this sector, according to Bloomberg Intelligence estimates from Tsang and Adeline Diab.Stro
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