超越日本，中国成为亚洲最大ETF市场

Core Viewpoint - China has overtaken Japan to become the largest ETF market in Asia, with a management scale of $681 billion, surpassing Japan's $668 billion, and is leading the race against Europe in the region [1][3]. Market Growth - Bloomberg's ETF team predicts that China will be a significant growth engine for the Asian ETF market over the next decade, with the market expected to reach $8 trillion by 2035, surpassing Europe [1][14]. - The Chinese ETF market recently broke the $480 billion mark on August 18, just four months after surpassing $400 billion for the first time [1][9]. Historical Context - China's ETF market reached $600 billion in 21 years, nine years faster than Japan, which took 30 years to reach the same milestone [8][9]. - The first ETF in China was launched in December 2004, and it took over seven years to exceed $100 billion in scale, while Japan's first ETF was launched in 1995 and took 20 years to reach the same level [9]. Recent Trends - Since 2020, net inflows into Japanese ETFs have significantly slowed, while Chinese ETFs have seen rapid growth, with inflows in 2024 projected to be $133 billion, ten times that of Japan's $13 billion [6][10]. - The Chinese ETF market has shown consistent growth, even during periods when the Japanese market was declining [4][10]. Regulatory Support - Chinese regulatory authorities have provided strong support for the ETF market, including speeding up product approvals and not setting limits on financing scales, which helps maintain China's leading position over Japan [10]. Future Potential - The adoption rate of ETFs among individual investors in China is currently low, with only 10 million ETF investors as of June 2024, indicating significant growth potential as financial education improves [14]. - The diversification of products in China's ETF market is still in its early stages, with potential for more products like active ETFs, derivative-based ETFs, leveraged and inverse ETFs, and cryptocurrency ETFs to be approved in the future [16].