Core Viewpoint - The article emphasizes the growing importance of ETFs as a long-term investment tool in the Chinese market, particularly with the launch of a new dynamic PB-based investment strategy for the ChiNext index by Tianhong Fund and the Shenzhen Stock Exchange [1][2]. Group 1: ETF Market Overview - The domestic ETF market has surpassed 4 trillion yuan, with stock ETFs exceeding 3 trillion yuan, indicating a rising demand for index tools among investors [1]. - Tianhong Fund's total index fund management scale is projected to exceed 130 billion yuan by the end of 2024, ranking 9th in the industry, with over 90 products and more than 12 million holders [3]. Group 2: Investment Strategy - The newly introduced ChiNext investment strategy uses dynamic PB percentiles as a valuation anchor, promoting a "buy low, sell high" approach by adjusting investment amounts based on PB levels [2][5]. - The strategy aims to enhance investor experience by addressing four major pain points in regular investment practices, focusing on effective buying and selling conditions [2][4]. Group 3: Market Trends and Insights - The ChiNext index has been optimized to improve investment value, with new mechanisms for monthly removal of risk warning stocks and ESG negative screening, enhancing the quality of index samples [8]. - The overall valuation of the ChiNext is currently at a relatively reasonable historical level, indicating a higher probability of positive returns in the future [8]. Group 4: Educational Initiatives - The Shenzhen Stock Exchange has been actively promoting ETF product innovation and investor participation through educational events like the "ETF Lecture Hall," aiming to instill a scientific investment mindset among investors [4][10]. - The collaboration between Tianhong Fund and Ant Wealth has led to the development of practical tools such as "Target Investment" and "Index Traffic Light" to assist investors [3].