Market Performance - The market saw a rise on October 22, 2025, with a trading volume of 1.89 trillion, an increase of approximately 140 billion from the previous trading day[1] - All sectors except coal experienced gains, with telecommunications, electronics, construction, and real estate leading the increases[1] - The Shanghai Composite Index rose by 1.36%, while the ChiNext Index increased by over 3% on October 21, 2025[3] Capital Flow - On October 21, 2025, net inflows into the Shanghai Stock Exchange amounted to 39.835 billion, and the Shenzhen Stock Exchange saw net inflows of 28.951 billion[4] - The top three sectors for capital inflow were telecommunications equipment, semiconductors, and consumer electronics, while precious metals, joint-stock banks, and non-brewed liquor saw the largest outflows[4] Industry Insights - The AI IaaS market in China grew by 122.4% year-on-year in the first half of 2025, reaching a market size of 19.87 billion[8] - The GenAI IaaS market experienced a significant growth of 219.3%, with a market size of 16.68 billion, while the Other AI IaaS market contracted by 14.1% to 3.19 billion[8] ETF Market Dynamics - The total trading volume of ETFs reached 562.914 billion as of October 21, 2025, with stock ETFs accounting for 140.2 billion and bond ETFs for 251.319 billion[12][13] - Recent ETF share splits have reduced investment thresholds, reflecting a shift towards refined operations in the public fund industry as the ETF market surpasses 5.63 trillion[14]