FXI, the joint venture between the UK's FTSE and Japan's Xinhua, has launched an index of Chinese-focused investments, completing the first phase of its plan to establish a series of real-time indices for the Chinese market.

The FTSE/Xinhau China 25 index will target fund managers and investment banks that want to create index-based investment products such as index-linked funds, derivatives, and exchange traded funds. It is also designed for use by overseas investors who want to invest in China.