6406亿美元，超越日本！中国ETF规模首登亚洲第一

Core Insights - As of the end of July, China's ETF market has surpassed Japan, becoming the largest ETF market in Asia with an asset management scale of $640.6 billion compared to Japan's $622.3 billion [1][3][8] - The growth of China's ETF market is driven by state-backed investments and strong regulatory support, with expectations for record-breaking asset management scale, capital flow, liquidity, and product supply in the coming years [8][12] ETF Market Size and Growth - By August 22, the total size of domestic ETFs reached 4.97 trillion yuan, up from 3.73 trillion yuan at the end of the previous year, indicating a growth of over 1.2 trillion yuan within the year [6] - The increase in ETF size is significantly attributed to market appreciation, with a net inflow of 534.1 billion yuan into industry ETFs and 451.9 billion yuan into bond ETFs recently [6] Types of ETFs and Their Performance - Equity ETFs have seen a robust growth of nearly 800 billion yuan this year, surpassing the 4 trillion yuan mark, setting a historical record [6] - Bond ETFs have also experienced substantial growth, with their total size increasing from 173.97 billion yuan at the end of last year to 553.69 billion yuan as of August 22, marking a 218.26% increase [7] Comparison with Japan's ETF Market - Japan's ETF market growth has slowed, with its first ETF launched in 1995 taking 20 years to reach $100 billion and 30 years to reach $600 billion, while China achieved $600 billion in just 21 years since its first ETF launch in 2004 [9] - The structure of Japan's ETF market is heavily weighted towards domestic large-cap stocks, while China's ETF market is more diversified, with significant growth in bond and cross-border ETFs [9][10] Future Outlook - The Chinese ETF market is expected to continue its rapid growth due to factors such as a large population, accelerated product approvals, and the current underdevelopment of various ETF products [12] - The increasing popularity of passive management funds and the role of ETFs in enhancing market liquidity and stability are anticipated to further diversify the types and forms of ETF products available in the future [12]