中经记者 孙汝祥 夏欣 北京报道 今年以来，沪市ETF市场活力持续释放。上交所数据显示，沪市ETF年内资金净流入超4300亿元，境内 占比超七成；市值规模增长1.3万亿元，保险、银行理财、企业年金、社保基金等中长期资金对规模增 量的贡献率超20%，资金主要流向重要宽基ETF及科创板ETF。 （编辑：夏欣 审核：何莎莎 校对：颜京宁） ...

Core Insights - The domestic ETF market continues to attract significant capital, becoming an important tool for investors to capture market opportunities [1] - Year-to-date, the Shanghai ETF market has seen a net inflow of over 430 billion yuan, with domestic funds accounting for over 70% of this inflow [1] - The total market capitalization of ETFs has increased by 1.3 trillion yuan, with long-term funds such as insurance, bank wealth management, corporate annuities, and social security funds contributing over 20% to this growth [1] Group 1: Market Overview - The total scale of domestic ETFs is approximately 5.5 trillion yuan, surpassing Japan to become the largest ETF market in Asia [1] - The Shanghai ETF market accounts for over 70% of this total, with a current scale of 3.9 trillion yuan, including 2.6 trillion yuan in stock ETFs and over 530 billion yuan in bond ETFs [1] - There are over 760 ETF products in the Shanghai market, with around 10 million participating accounts [1] Group 2: Broad-based ETFs - The scale of broad-based ETFs in the Shanghai market exceeds 1.8 trillion yuan, with about 60 new broad-based ETFs listed on the Shanghai Stock Exchange this year [1] - These broad-based ETFs cover important indices such as the SSE 180, CSI A500, Sci-Tech Innovation Index, and Sci-Tech 50 [1] Group 3: Sci-Tech Innovation Board ETFs - Currently, there are 102 Sci-Tech Innovation Board ETFs with a total scale of nearly 300 billion yuan [2] - Among these, 59 are broad-based ETFs with a combined scale of 215 billion yuan, covering indices like Sci-Tech 50, Sci-Tech 100, Sci-Tech 200, and the Sci-Tech Comprehensive Index [2] - There are also 37 industry-themed ETFs with a total scale of 75.7 billion yuan, focusing on key sectors such as artificial intelligence, new energy, chips, and innovative pharmaceuticals [2]

Core Viewpoint - The Shanghai ETF market has shown significant vitality this year, with net inflows exceeding 430 billion yuan and a market capitalization increase of 1.3 trillion yuan [1] Group 1: Market Performance - Net inflows into the ETF market have surpassed 430 billion yuan, with over 70% coming from domestic sources [1] - The market capitalization of ETFs has grown by 1.3 trillion yuan [1] Group 2: Contribution of Long-term Funds - Long-term funds such as insurance, bank wealth management, corporate annuities, and social security funds contributed over 20% to the growth in market capitalization [1] - The primary investment focus has been on major broad-based ETFs and Sci-Tech Innovation Board ETFs [1]

Core Viewpoint - The Shanghai Stock Exchange reports that as of August 30, 2025, listed companies have shown a clearer growth momentum driven by consumption and technology, indicating a transition towards a more balanced and sustainable development model [2] Group 1: Performance Growth - In the first half of 2025, total operating revenue for Shanghai-listed companies reached 24.68 trillion yuan, a slight decrease of 1.3% year-on-year; net profit was 2.39 trillion yuan, an increase of 1.1% year-on-year [3] - Mid-term dividends reached a new high, with 408 companies announcing cash dividends totaling 555.2 billion yuan, a year-on-year increase of 12% [3] - Manufacturing sector revenue and net profit grew by 3.9% and 7.1% year-on-year, respectively, contributing significantly to overall performance [3] Group 2: New Growth Engines - The integrated circuit and biopharmaceutical industries are emerging as new growth engines, with integrated circuit companies increasing to 138, generating a total revenue of 246.68 billion yuan, up 14% year-on-year [4][5] - Biopharmaceutical companies reported total revenue of 251.11 billion yuan, with a net profit increase of 14% year-on-year [4][6] Group 3: Consumer Expansion and Quality Improvement - The consumer sector continues to show potential, with food and beverage companies reporting a 12% increase in revenue and a 2% increase in net profit year-on-year [7] - The automotive industry saw a 6% increase in revenue, with new energy vehicle sales rising nearly 30% [7] - New consumption trends are emerging, with companies like Dongpeng Beverage reporting a 214% increase in revenue from electrolyte drinks [8] Group 4: Traditional Industry Transformation - Traditional industries such as steel and machinery are undergoing transformation, with net profits increasing by 235% and 21% respectively [10] - Companies are focusing on high-value-added products, with Baosteel's high-end products accounting for over 60% of its output [10][11] Group 5: Foreign Trade Resilience - Over 830 manufacturing companies achieved overseas revenue of 1.1 trillion yuan, a year-on-year increase of 5% [13] - Private enterprises contributed significantly, with overseas revenue exceeding 740 billion yuan, accounting for nearly 70% of total overseas income [13][14] Group 6: ETF Product Expansion - The scale of ETFs in the Shanghai market exceeded 3.7 trillion yuan, with significant net inflows of over 350 billion yuan this year [16] - A total of 96 new ETFs were launched in the first half of the year, surpassing the total for the entire previous year [16][17] Group 7: Policy Implementation and M&A Activity - The number of asset restructuring cases increased by 23% in the first half of 2025, with significant transactions exceeding 160 billion yuan [18][19] - The "Science and Technology Innovation Board" policies have led to a surge in mergers and acquisitions, with over 130 new industry mergers reported [19]

Core Insights - The Shanghai Stock Exchange (SSE) is promoting inclusive ETF products such as dividend, low volatility, and bond ETFs to reach a broader investor base and foster rational, value, and long-term investment concepts [1] Group 1: ETF Market Overview - As of the end of July, the number of ETFs listed on the SSE reached 719, with a total scale exceeding 3.3 trillion yuan [1] - The scale of dividend ETFs and bond ETFs surpassed 140 billion yuan and 370 billion yuan respectively [1] - Year-to-date net inflow into ETFs in the Shanghai market has exceeded 400 billion yuan [1] Group 2: Investor Engagement Initiatives - In July, the SSE conducted 143 events themed "Investor-Centric, Return-Driven Development" focusing on ETF promotion [1] - The SSE's initiatives aim to enhance the understanding and accessibility of ETF products among a wider range of investors [1]