Core Viewpoint - The article discusses the ETF grid strategy, focusing on new economic sectors and financial sectors, highlighting investment opportunities in China's evolving economy and the financial market's recovery [3][4][6]. Group 1: New Economic ETF - The New Economic ETF (159822.SZ) aligns with the government's 2025 work report, emphasizing the development of new productive forces and the integration of technology and industry innovation [3]. - This ETF indirectly tracks the S&P China New Economy Index through full holdings in the ICBC South China S&P China New Economy Industry ETF (3167.HK), focusing on leading companies in artificial intelligence, internet, biotechnology, and innovative pharmaceuticals [3]. - The ETF aims to capture new growth drivers in China's economy while diversifying regional risks [3]. Group 2: Financial ETF - The Financial ETF (510230.SH) tracks the Shanghai Stock Exchange 180 Financial Index, with significant allocations in banking (62%), securities (20%), and insurance (18%) sectors [4][6]. - As of June 30, 2025, the banking sector's dividend yield reached 5.86%, surpassing the market average and the ten-year government bond yield, making it an attractive option for long-term funds [4]. - The securities sector saw a substantial increase in brokerage revenue, with a 50.69% year-on-year growth in H1 2025, indicating a recovery in sector performance [4][6]. - The insurance sector is expected to benefit from supportive policies, alleviating pressure on liabilities, while the stock investment balance of life insurance companies reached nearly 2.9 trillion yuan, a 50% year-on-year increase, suggesting a shift towards equity asset allocation [6].

Core Viewpoint - The article discusses the potential impact of U.S. Federal Reserve's interest rate cuts and the implications for various ETFs, particularly in the context of consumer demand and market liquidity [2][3]. Group 1: U.S. Economic Indicators - U.S. Treasury Secretary indicated a possible 50 basis points rate cut in September, with unemployment claims reaching 235,000, the highest since June [2]. - Continuing claims for unemployment benefits hit 1.972 million, the highest since November 2021, indicating a cooling labor market [2]. - Federal Reserve Chairman Powell signaled a dovish stance at the Jackson Hole meeting, suggesting a need to adjust policy due to rising inflation risks and declining employment risks [2]. Group 2: Impact on Consumer Demand - A potential rate cut could boost U.S. consumer demand, providing a favorable environment for economic recovery [3]. - The extension of tariff suspension on China by President Trump may mitigate the impact of new tariffs on domestic consumer prices and spending [3]. Group 3: ETF Performance and Strategy - The S&P Consumer ETF (159529.SZ) has shown promising backtest results over the past 120 trading days, indicating potential for future performance [4]. - The Hang Seng Technology Index ETF (513180.SH) has seen significant net inflows from southbound funds, totaling HKD 731.2 billion in the first half of 2025, which is 91% of last year's total [5]. - The Hang Seng Technology Index covers 30 leading tech companies listed in Hong Kong, with a current PE-TTM of 22.25, below the historical average [6]. - The New Economy ETF (159822.SZ) aims to track the performance of China's new economy sectors, focusing on high-growth areas such as internet technology and healthcare [9].