A view of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) special section at the China International Financial Expo in Guangzhou, South China's Guangdong Province. Photo: IC

The first exchange traded fund (ETF) tracking companies based in the Guangdong-Hong Kong-Macao Greater Bay Area had raised more than 6 billion yuan ($844 million) by the end of Monday, a reflection of domestic investors' optimism and anticipation involving the area's economic leap, analysts told the Global Times on Tuesday. 

The ETF, run by Ping An Fund Management Co, closely tracks the CSI Greater Bay Area Development Thematic Index, which in turn sampled the largest 100 A-share listed companies based in the Greater Bay Area, with a special weighting inclination toward scientific companies. 

An ETF is an investment fund that invests in a basket of stocks, bonds, or other assets.

Ping An's Greater Bay Area ETF had raised 6.01 billion yuan by Monday, the company disclosed. The ETF had no cap for fundraising. 

A number of other ETFs targeting Greater Bay Area companies are also on the way. Three Greater Bay Area-themed ETFs are now raising funds, while others are waiting for approval, according to media reports. 

Xi Junyang, an economics professor at the Shanghai University of Finance and Economics, predicted that in the long term, there should be good returns on those ETFs as government policy stimulation would drive up the area's economic development as a whole. 

"It's very likely that the government will launch a series of policies and projects, such as infrastructure construction, for the Greater Bay Area, which will boost the whole area's economic development," he told the Global Times on Tuesday. 

"Many people are attracted to buy those ETFs because it's a hot theme, but I think the economic benefits will manifest more clearly in the long term," Xi said. 

Li Daxiao, chief economist at Shenzhen-based Yingda Securities, said that with the collective advantages of the region, including complete industry chains and a large talent pool, the area is sure to experience an economic leap.

The Greater Bay Area is already home to many influential domestic companies like Ping An and Huawei. 

Analysts said that the recent unrest in Hong Kong wouldn't hamper the development of the Greater Bay Area as a whole.

"In the long term, I think Hong Kong must integrate into the Greater Bay Area and play an important role in the area. It won't cut itself off from the whole area's rapid development," Li said. 

Xi also noted that with the Greater Bay Area strategy, connections between the Chinese mainland, Macao and Hong Kong will be closer with more infrastructure projects geographically linking those regions. "The Greater Bay Area strategy provides economic integration for those regions, and economic integration will further lead to omni-dimensional connections among those areas," Xi said.