The China Securities Index Co., Ltd. (CSI) officially launched a new stock index, CSI A500, on Monday.

The index tracks 500 securities with large market values to reflect the overall stock performance of the listed companies most representative of China's various industries, according to the company.

With a sample selection including leading companies in emerging industries such as information technology and biomedicine, the index is expected to help channel funds toward the cultivation of new quality productive forces.

Screening criteria, including connectivity and ESG (environmental, social and governance), have been included when compiling the index to facilitate medium- and long-term domestic and foreign capital allocation to A-share assets, according to the company.

The first batch of 10 exchange-traded funds tracking the index were launched on Sept. 10.