Report Industry Investment Rating No relevant content provided. Core Viewpoints - The Shenzhen Stock Exchange suspended trading of the Yin Hua New Economy ETF (QDII) due to the un - receding premium in secondary - market trading prices on March 31, 2025 [2][14]. - As of the end of 2024, Central Huijin's holdings of ETFs reached 317.3 billion shares, with a market value of 1.05 trillion yuan, an increase of 81.6 billion shares and 462.4 billion yuan in market value compared to June 2024. Huijin covered the A - share market through three broad - based products [2][14]. Summary by Directory 1 ETF and Index Product Focus - On March 31, 2025, the Shenzhen Stock Exchange suspended the trading of the Silver Hua Industrial Bank Southern Dongying S&P China New Economy Industry ETF (QDII) from 11:12 until the market closed due to the un - receding premium in secondary - market trading prices [2][14]. - By the end of 2024, Central Huijin's ETF holdings reached 317.3 billion shares, worth 1.05 trillion yuan, with significant increases in holdings of CSI 300, CSI 1000, and STAR Market - related ETFs [2][14]. 2 Last Week's Market Performance Review 2.1 Main Asset Index Performance - Last week, domestic equity broad - based indices all declined, with the ChiNext Index, CSI 300, CSI 500, STAR 50, and SSE 50 down 2.95%, 1.37%, 1.19%, 1.11%, and 0.65% respectively. Major bond indices all rose, and overseas equity and commodity indices all fell [3][15]. 2.2 Shenwan Primary Industry Performance - Most Shenwan primary industries declined last week. Utilities, agriculture, forestry, animal husbandry, and fishery, and pharmaceutical and biological sectors led the gains, while the automobile, power equipment, and household appliance sectors led the losses [19]. 3 Valuation - Last week, most valuation quantiles of major equity broad - based indices declined. Only the Wind All - A and CSI 500 valuations rose by 0.29% and 0.04% respectively. Most Shenwan primary industry valuation quantiles also declined [22][29]. 4 ETF Scale Changes and Trading Volume 4.1 ETF Scale Changes - Last week, non - monetary ETF scale decreased by 6.476 billion yuan, with a net inflow of 37.013 billion yuan. Commodity, bond, and cross - border non - Hong Kong stock ETFs saw scale increases, while cross - border Hong Kong stock and equity ETFs saw scale decreases [34]. - Among equity broad - based ETFs, the Guozheng 2000 theme ETF had the largest scale increase, and the CSI 300 theme ETF had the largest scale decrease. The CSI 300 theme ETF had the largest net inflow, and the CSI 500 theme ETF had the largest net outflow [34]. 4.2 ETF Trading Volume - Compared with the week before last, the daily average trading volume of some ETFs increased significantly, including the GF CSI Hong Kong Innovative Drug ETF in cross - border non - Hong Kong stock ETFs, etc. [48]. 5 ETF Performance - Last week, the Southern Hang Seng Biotechnology ETF in cross - border non - Hong Kong stock ETFs, the Invesco Great Wall CSI Hong Kong Stock Connect Innovative Drug ETF in cross - border Hong Kong stock ETFs, etc., performed best in their respective categories [7][51]. 6 ETF Margin Trading and Short Selling - This week, the total margin buying amount was 48.535 billion yuan, a decrease of 11.578 billion yuan from last week. The total margin selling volume was 171 million shares, a decrease of 70 million shares from last week [54]. 7 Current ETF Market Scale - As of last Thursday (April 3, 2025), there were 1,111 listed ETFs in the market, with a total scale of 3.804346 trillion yuan. Among equity ETFs, scale - based index ETFs had the largest scale [55]. 8 ETF Listing and Issuance - Last week, 4 ETFs were listed for trading, and 11 new ETFs were established, mostly passive index funds. Since April, 4 ETFs have been issued, with a total issuance scale of 30.35 billion yuan [8][67][68].