Xin Lang Cai Jing·2025-08-12 23:34Core Insights - The balance of margin financing and securities lending (two-in-one balance) in A-shares has surpassed 2 trillion yuan, second only to the peak in June 2015 [1] - Current levels of two-in-one balance, in terms of scale and transaction volume, are only about half of the peak values seen in 2015, indicating a relatively active but healthy overall funding environment [1] Micro Funding Aspects - A total of 146.3 million new equity funds have been established, while stock ETFs experienced a net outflow of 3.68 billion yuan [1] - Financial real estate and cyclical resource-related ETFs saw net inflows of 2.84 billion yuan and 2.19 billion yuan, respectively [1] - Insurance companies reported premium income of 37.35 billion yuan for the first half of 2025, continuing a growth trend of 5.3% after two years of high increases [1] - Net inflow of two-in-one funds reached 28.77 billion yuan, with a transaction volume share of 10.1%, showing a slight decline on a month-on-month basis [1] - Southbound capital recorded a net inflow of 19.98 billion yuan, totaling a net inflow of 839.5 billion yuan year-to-date [1]