ETF注册流程优化，监管层全面取消无异议函要求

Core Viewpoint - The regulatory body has issued new guidelines for the registration and listing process of ETF products, simplifying procedures and reducing the burden on industry institutions, which is expected to invigorate the ETF market [1][2][3] Group 1 - The requirement for ETF product registration to submit a no-objection letter from the stock exchange has been completely removed, allowing fund managers to directly apply for registration with the CSRC for ETFs tracking mature indices. This change is aimed at streamlining the process and enhancing market vitality [1] - As of November 17, the total market size of ETFs reached 5.7 trillion yuan, with the number of ETFs totaling 1,363, indicating that ETFs have become a significant source of incremental capital in the equity market [1] Group 2 - For innovative, complex, or newly indexed products, the exchange will initiate a product development evaluation mechanism to ensure that product plans are mature, operations are stable, and risks are controllable [2] - Fund managers are encouraged to participate in the evaluation process based on their business readiness and past ETF operation experiences [2] Group 3 - The guidelines address the issue of concentrated applications from industry institutions, promoting reasonable layout and avoiding herd behavior. Fund managers are urged to conduct thorough market analysis and prudently design products to prevent issues related to underwhelming fundraising and unstable operations [3] - In cases of concentrated applications, the regulatory body will implement measures such as batch registration and guiding fund managers to set reasonable initial issuance scales to ensure orderly fundraising and listing of ETF products [3]