Overview - The trend of public funds increasing their allocation to the Beijing Stock Exchange (BSE) continues, with significant entry of active equity public funds. As of H1 2025, the market value allocated by public funds to the BSE reached 22.383 billion, with an allocation ratio of 0.37%, up by 0.15 percentage points quarter-on-quarter. The allocation coefficient reached 0.59, an increase of 0.07. Public funds have continuously increased their allocation to the BSE for three consecutive half-year periods since H1 2024. Among them, the proportion of active equity public funds allocated to the BSE reached 0.46%, up by 0.26 percentage points quarter-on-quarter, with an allocation coefficient of 0.74, an increase of 0.24 [7][24][47]. Active Equity - Active equity public funds significantly increased their allocation to the BSE, with a total market value of 11.22 billion as of H1 2025, a substantial increase of 116% compared to H2 2024. The BSE's thematic products also saw a market value of 3.9 billion, up by 54% quarter-on-quarter, primarily due to net value growth and the opening of subscriptions for the "Taikang BSE Selected Two-Year Open" fund [24][25][28]. Index Investment - The scale of index investment in the BSE is steadily expanding. As of H1 2025, the market value held by BSE index funds reached 11.08 billion, an increase of 48% quarter-on-quarter. The BSE 50 index fund accounted for 10.5 billion, up by 46%, while other index funds reached 580 million, up by 90%. The scale of passive index funds was 10.02 billion, up by 42%, and the scale of index-enhanced funds reached 1.06 billion, up by 162% [47][48]. Allocation - The institutionalization trend is accelerating, with a focus on growth sectors. As of H1 2025, the concentration of active equity public fund allocations has increased, with key stocks like Jinbo Bio, Naconoer, and Tongli Co. accounting for about half of the total market value held. The report emphasizes the importance of sectors with sustained growth potential, such as Jinbo Bio and Minshida [24][38][39].

Overview - The trend of public funds increasing their allocation to the Beijing Stock Exchange (BSE) continues, with active equity public funds significantly entering the market. As of H1 2025, the market value allocated by public funds to the BSE reached 22.383 billion yuan, with an allocation ratio of 0.37%, up by 0.15 percentage points quarter-on-quarter. The allocation coefficient reached 0.59, an increase of 0.07. Public funds have continuously increased their allocation to the BSE for three and a half consecutive half-years since H1 2024 [10][12]. Active Equity - Active equity public funds have significantly increased their allocation to the BSE. As of H1 2025, the total market value held by active equity funds in the BSE reached 11.22 billion yuan, a substantial increase of 116% compared to H2 2024 [29][30]. - The BSE theme products held a market value of 3.9 billion yuan as of H1 2025, up by 54% quarter-on-quarter, primarily due to net value growth and the opening of subscriptions for the "Taikang BSE Selected Two-Year Open Fund" [30][34]. - The average net value growth rate of BSE theme funds was 69.9% from the beginning of 2025 to September 10, 2025, significantly outperforming the BSE 50 index by 14.8% [30][34]. Index Investment - The scale of index investment in the BSE is steadily expanding. As of H1 2025, the market value held by BSE index funds reached 11.08 billion yuan, an increase of 48% quarter-on-quarter. The BSE 50 index fund accounted for 10.5 billion yuan of this, up by 46% [54][55]. - The number of BSE 50 index products has increased, with 28 products established as of now, including two newly established products in Q3 2025 [54][55]. Allocation - The trend of institutionalization in the BSE is accelerating, with a focus on growth sectors. As of H1 2025, the public fund holding ratio for the BSE 50 reached 8.8%, up by 1.8 percentage points quarter-on-quarter. The active equity holding ratio was 3.9%, an increase of 2.0 percentage points [19][20]. - The concentration of active equity public fund allocations has increased, with key stocks like Jinbo Bio, Nacono, and Tongli Co. accounting for about half of the total market value held [40][44].