China’s securities regulator said that it has accepted an application to launch an exchange traded fund linked to the Hang Seng Index, marking Beijing’s latest effort to further open the country’s rigidly controlled capital account. China Securities Regulatory Commission said in a statement late Monday that the application is from China Asset Management Co., the country’s largest fund manager by assets under management. The ETF will be sold under the current Qualified Domestic Institutional Investors program, which enables selected Chinese financial institutions to buy overseas-listed securities using yuan raised onshore within a preset quota, according to the statement. During a visit to Hong Kong in August, Chinese Vice Premier Li Keqiang announced that China would allow ETFs linked to Hong Kong-listed shares to be traded in mainland China. He also announced several initiatives aimed at easing the flow of offshore yuan traded in Hong Kong back into mainland China.