KraneShares CSI China Internet UCITS ETF (KWEB.L) is an exchange-traded fund that tracks the CSI Overseas China Internet Index, providing investors with exposure to publicly traded China-based companies primarily engaged in internet and internet-related sectors, including e-commerce, cloud computing, fintech, online entertainment, and artificial intelligence; its portfolio features leading holdings such as Tencent Holdings Ltd., Alibaba Group Holding Ltd., PDD Holdings Inc., Meituan Class B, and NetEase Inc. Launched on November 21, 2018, with ISIN IE00BFXR7892 for its USD share class and domiciled in Ireland, the ETF is managed by KraneShares, a specialist asset manager founded in 2013 and headquartered in New York, NY; it lists on multiple exchanges including the London Stock Exchange (KWEB LN in USD, KWBE LN in EUR, KWBP LN in GBP), Euronext Amsterdam, Borsa Italiana, and Deutsche Börse, with a total expense ratio of 0.75% and an accumulating distribution policy featuring physical full replication. The ETF targets institutional and retail investors seeking long-only, currency-unhedged access to China's digital economy leaders listed on the Hong Kong Stock Exchange, NASDAQ, or New York Stock Exchange, with recent assets under management for the EUR class at approximately EUR 191 million and the broader strategy exceeding USD 760 million as of late 2021 data. In December 2025, KraneShares expanded the KWEB strategy to Asia through a strategic partnership with ICBC UBS International, listing the ICBC UBS KraneShares KWEB CSI China Internet ETF on the Hong Kong Stock Exchange in HKD (03102 HK), USD (09102 HK), and RMB (83102 HK) counters to enhance accessibility for Hong Kong investors amid growing demand for China internet exposure.