中国ETF总规模首破6万亿元！7只千亿级ETF，125只ETF规模突破百亿

Core Insights - The Chinese capital market is entering an "ETF era" by 2025, with the total market size of ETFs reaching 6 trillion yuan, a remarkable increase of 61.6% in just one year [1][3][4] Market Growth - The ETF market has shown rapid growth, breaking through significant thresholds of 4 trillion, 5 trillion, and 6 trillion yuan within 2025, indicating a clear acceleration in market expansion [3][4] - Historical data shows that the ETF market grew from 1 trillion yuan in 2020 to 2 trillion in 2023, and then to 3 trillion in 2024, culminating in a "super explosion" in 2025, where the market crossed multiple trillion thresholds in a matter of months [4][5] Market Structure - The ETF landscape has transformed, with ETFs becoming a key component of the public fund system, featuring 1,381 ETFs, including 7 flagship ETFs exceeding 100 billion yuan and 125 ETFs surpassing 10 billion yuan [5][9] - The Huatai-PB CSI 300 ETF leads the market with a size of 427.07 billion yuan, making it the only ETF to exceed 400 billion yuan [5][7] Fund Inflows - In 2025, 50 ETFs experienced net inflows exceeding 10 billion yuan, with the Hong Kong Stock Connect Internet ETF attracting the highest inflow of 57.07 billion yuan, followed by the Gold ETF with 41.70 billion yuan [17][19] - Bond ETFs have also seen significant inflows, with the Short-term Bond ETF and 30-Year Treasury Bond ETF attracting 35.05 billion yuan and 22.35 billion yuan, respectively [17][19] Competitive Landscape - The top three fund companies dominate the ETF market, holding 41% of the market share, while the top ten companies account for 75% [21] - The "ETF Billion Club" expanded from 12 to 16 members in 2025, with new entrants including Huatai-PB, Hai Fu Tong, Penghua, and Tianhong [21] Global Context - The domestic ETF market is approximately one-fourth the size of the U.S. market, indicating that the long-term trend of index-based investing is just beginning in China [27]