SHANGHAI, June 19 (Reuters) - China Reform Holdings Corp

has invested in exchange-traded funds (ETFs) tracking Hong

Kong-listed Chinese state-owned enterprises, the manager of

state assets said on Wednesday, in a move to support the

companies and stabilise the market.

"The move sends a positive signal of being firmly optimistic

about the long-term value of Hong Kong-listed central SOEs," the

state fund said in a statement.

China Reform said it subscribed for the initial batch of the

newly launched ETFs tracking the CSI China Reform Hong Kong

Connect Central-SOEs High Dividend Yield Index,

which comprises state companies such as oil giant CNOOC

and coal miner China Shenhua Energy.

The index, co-complied by China Reform Holdings and China

Securities Index, selected central SOEs that have a prominent

industry position, stable operation, abundant cash flow and high

dividend level, the statement said.

The ETFs are separately managed by Invesco Great Wall

, GF Fund Management, and China

Southern Asset Management.

Chinese asset managers rushed to launch funds to woo

investors into state-owned firms in recent years, and China's

state asset regulator has repeatedly urged SOEs to improve

profitability and communications with investors, in line with

Beijing's overall efforts to make these firms leaner and

stronger.