As a key hub connecting capital and entities, the fund industry needs to upgrade from a "fund supplier" to a "value co creator" - through product innovation, resource integration, and ecological empowerment, it can solve social problems in people's livelihood security and cultivate new quality productivity in industrial transition. The special topic aims to provide professional market insights, cutting-edge trend analysis, and practical investment strategies, with a focus on "problem oriented solutions and social value", to present how the fund industry can drive macro changes through micro innovation. Provide readers with a journey of financial insights that are warm, sharp, and deep.
In the increasingly fierce competition in the asset management industry, several fund companies known for their proactive investment capabilities are quietly extending their tentacles to areas that are not the main battlefield of proactive management - ETFs.
On September 8, 2025, Huashang Fund's new fund, Huashang Hong Kong Stock Connect Value Return Hybrid, announced that it was sold out on its first day of issuance, ending fundraising nearly three weeks ahead of schedule and initiating a doomsday proportional allocation. This is not an isolated case. On September 2nd, the investment promotion balanced selection hybrid raised over 5 billion yuan in one day; In early August, Morgan's FOF (Fund of Funds) earned 2.752 billion yuan in a single day. Behind these 'sunshine bases', without exception, stands a common channel giant: China Merchants Bank.
All of this seems to indicate that capital is voting with real money, responding to a question of the times: whether "chips are the hard currency of the new era"? Behind this transition of old and new "stock kings" is a grand narrative of China's economy shifting from consumer led to technological innovation, and also a repricing of the capital market's future discourse power in the reconstruction of global competitiveness.
With the outbreak of market conditions, the size of ETFs has also achieved rapid growth. According to Wind data, as of August 18, 2025, the total size of ETFs in the entire market has exceeded 4.8 trillion yuan, a sharp increase of 1.04 trillion yuan from the end of 2024, with a growth rate of 27.88%. The growth of not only breaks historical records, but also reflects a profound change in the flow of capital in the capital market: institutional funds have entered the market in large numbers, individual investors have followed suit, and ETFs are becoming the core tool for "long money" allocation.
From high dividend sectors hitting new highs, to the rise of the technology sector, and to the recent surge of Yajiang concept stocks and "anti involution" concept stocks, the rotation of A-shares has continued to increase market heat.
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