在美联储重启降息周期的背景下，具备增长潜力的中国资产对内外资机构的吸引力均在提升。中信建投 最新研报指出，美联储降息周期重启，此次降息为"风险管理式"降息，延续既往降息框架，后续降息路 径或更为清晰，对经济增长提供有力支撑。同时中美经贸谈判也有新进展，为中美关系带来积极信号。 （资料来源：《中信建投：美联储如期降息》-2025/9/21） 此外外资方面，Wind资讯数据显示，今年以来截至9月21日已有729家外资机构合计调研A股公司6923 次，9月以来外资机构调研次数已超400余次，体现了外资机构对于中国资产的积极关注。 在此背景下，中证A500指数作为A股宽基指数体系的重要一员成为助力把握中国资产整体机遇的重要工 具。其中Wind数据显示，目前同类规模居首的A500ETF华泰柏瑞（563360）近10个交易日（2025/9/8- 2025/9/19）累计获10.33亿元资金加仓，助推其最新规模增长至223.51亿元。（规模数据来源：交易 所；其他数据来源：Wind；均截至2025/9/19） 伴随着资金的密集流入，A500ETF华泰柏瑞（563360）流动性也同步提升，Wind数据显示，9月以来截 至9月 ...

Group 1 - The overall A-share market experienced fluctuations following the Federal Reserve's interest rate cut expectations, but trading activity remained robust, with a total trading volume exceeding 3.1 trillion yuan on September 18, 2025, marking a 763.6 billion yuan increase from the previous trading day, ranking as the fourth highest in history [1] - As of September 18, 2025, the total trading volume of A-shares for the year reached 283.59 trillion yuan, doubling compared to the same period in 2024, indicating a recovery in investor confidence and increased market participation [1] - Foreign capital is gradually increasing its allocation to Chinese assets, with Goldman Sachs maintaining an overweight rating on A-shares and H-shares, focusing on themes such as leading private enterprises, artificial intelligence, anti-involution, and shareholder returns [1] Group 2 - The CSI A500 Index, which covers a wide range of industries, has gained attention in the market, with a 14.44% increase over the past six months, outperforming other indices such as CSI 800 (13.95%), SSE 50 (6.39%), and CSI 1000 (13.46%) [1] - The A500 ETF by Huatai-PB (563360) is the only product with a scale exceeding 21 billion yuan among all ETFs tracking the CSI A500 Index, demonstrating significant size and liquidity [1] - The A500 ETF has seen net inflows of 710 million yuan over six trading days in the past ten days, bringing its latest share count to 18.329 billion and total scale to 22.182 billion yuan as of September 18, 2025 [1] Group 3 - The A500 ETF closely tracks the CSI A500 Index, which focuses on 500 large-cap, liquid stocks across various industries, with the top five sectors being electronics, power equipment, banking, pharmaceuticals, and non-bank financials, showcasing balanced industry allocation [1] - The A500 ETF and its linked funds have a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, which are among the lowest in the A-share market [2] - As of June 30, 2025, the A500 ETF has achieved a cumulative return of 1.55% for the first half of 2025 and 2.50% since inception, outperforming its benchmark, the CSI A500 Index, which had a return of 0.47% and 19.18% during the same periods [3]

Group 1 - The market has shown renewed strength, with the CSI A500 Index reaching its highest point in nearly three years as of September 11, leading to significant inflows into the Huatai-PB CSI A500 ETF, which saw a net inflow of 994 million yuan on that day, marking a new high since July 1 [1] - The enthusiasm for core asset allocation has been increasing, with the Huatai-PB CSI A500 ETF recording a total trading volume of 4.247 billion yuan over five consecutive trading days from September 5 to September 11, and a cumulative net inflow of 1.157 billion yuan over four consecutive days from September 8 to September 11 [1] - As of September 11, the Huatai-PB CSI A500 ETF's latest scale reached 22.558 billion yuan, making it the only ETF tracking the CSI A500 Index with a scale exceeding 22 billion yuan [1] Group 2 - Global funds are accelerating their return to Chinese assets, with Goldman Sachs reporting the highest net buying of Chinese stocks by global hedge funds since September 2024, and Morgan Stanley indicating that U.S. investors' interest in the Chinese market has reached its highest level since 2021 [2] - The recovery of the Chinese economy, the steady improvement of the technology sector's competitiveness, and the continuous implementation of structural policies are expected to enhance global market confidence in A-share investments [2] - The Huatai-PB CSI A500 Index is anticipated to attract more incremental capital, serving as an important tool for investors to capture opportunities in high-quality leading companies and new productive forces in China [2] Group 3 - The Huatai-PB CSI A500 ETF and its linked funds have adopted a comprehensive low-fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, which are among the lowest in the A-share market for equity index products [3] - The cumulative net asset value of the Huatai-PB CSI A500 ETF reached 1.2146 yuan, making it one of the few products tracking the CSI A500 Index with a cumulative net asset value exceeding 1.21 yuan [4] Group 4 - The Huatai-PB CSI A500 ETF was established on September 25, 2024, and has achieved a return of 1.55% since inception, outperforming its benchmark, the CSI A500 Index, which had a return of 0.47% during the same period [6] - The Huatai-PB fund management company is one of the first ETF managers in China, with over 18 years of experience in ETF operations, and its non-cash ETF scale exceeds 557 billion yuan, ranking it among the top in the industry [5]

Group 1 - A-shares have experienced a pullback after four months of continuous growth, with increased volatility during the market consolidation period [1] - The CSI A500 Index, which tracks core assets in A-shares, has shown resilience, leading to increased interest in fund allocation [1][2] - The A500 ETF by Huatai-PB has seen net inflows for two consecutive trading days and a significant increase in trading volume, with its latest scale exceeding 20.872 billion yuan [1][2] Group 2 - Recent adjustments in A-shares are attributed to market sentiment fluctuations and structural trading, but the driving forces behind the current upward trend remain intact [2] - Factors supporting the market include supply-side reforms, increased long-term capital inflows from insurance and pension funds, and a potential shift in household asset allocation towards equity assets [2] - The foreign investment in A-shares has also increased, with foreign holdings reaching 2.57 trillion yuan, accounting for 2% of the total market capitalization, indicating growing confidence in China's economic prospects [2] Group 3 - The A500 ETF by Huatai-PB selects 500 securities with large market capitalization and good liquidity, providing broad coverage of core sectors in the Chinese economy [3] - The fund features a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, making it one of the lowest in the A-share market [4][6] - As of September 9, 2025, the cumulative net asset value of the A500 ETF reached 1.1835 yuan, making it one of the few ETFs tracking the CSI A500 Index to exceed this value [5]