Zhong Guo Ji Jin Bao·2025-10-23 20:28Core Insights - The ETF market continues to thrive, with significant competition among brokerages in this sector [1] - Key data from the Shanghai and Shenzhen stock exchanges reveal strong growth in ETF trading volumes and account numbers [1] Market Overview - As of September 2025, the Shanghai market has 935 fund products, including 760 ETFs, with a total market value of 40,003.11 billion, an increase of 7.65% [1] - The Shenzhen market has 841 fund products, with 555 ETFs, totaling a market value of 16,255.16 billion and a total share of 9,648.33 million [1] Brokerage Performance - In the Shanghai ETF market, the top two brokerages are China Galaxy Securities and Shenwan Hongyuan, holding 22.75% and 16.74% market shares respectively, together accounting for 39.49% [2][3] - The top 10 brokerages by ETF holding scale include Guotai Junan, CITIC Securities, and others, with Guotai Junan's market share increasing significantly to 8.04% [3] Trading Activity - In September, CITIC Securities led the Shanghai market in ETF trading volume with an 11.24% share, surpassing Huatai Securities, which held 11.09% [5][6] - Year-to-date, Huatai Securities maintains the highest cumulative trading volume share at 11.01% [6] Account Activity - In September, Huatai Securities led in the number of trading accounts with a 10.29% share, followed closely by Dongfang Caifu at 9.94% [10] - The ETF market's growth is supported by market makers, with 21 primary and 12 general market makers providing liquidity for 812 fund products as of September [10]