Exchange-traded funds (ETFs) linked to the ChiNext board have been consistently favored by market capital since July. Taking products tracking the ChiNext Index as an example, Wind data shows that the net inflow into ChiNext Index ETF products across the entire market this month has already reached 28.567 billion yuan.
Industry insiders indicate that broad-based ETFs like ChiNext Index ETFs offer advantages such as diversified investment risk, flexible trading mechanisms, and relatively low overall fees. They can help investors gain exposure to the sector with a single transaction, efficiently capture overall market opportunities, and fully meet the needs of both institutional and individual investors for allocating growth-oriented assets.
Zhang Yichi, fund manager of Yinhua Fund's ChiNext Composite ETF, stated that utilizing index products like ETFs to gain exposure to the ChiNext board can effectively mitigate single-stock risks while conveniently sharing in the overall growth returns of the sector. Having weathered multiple market cycles, the ChiNext Index has evolved into a core allocation instrument that combines both stability and growth potential.
Zhai Yunfei, Director of Quantitative Investment at Bank of Communications Schroder Funds and a fund manager, noted that the ChiNext Index is composed of the 100 companies with the largest market capitalization and best liquidity on the ChiNext board, highly focused on strategic emerging industries such as new-generation information technology, new energy, and biomedicine. By investing in products related to the ChiNext Index, investors can share in the long-term dividends of China's economic transformation and industrial upgrading.
It is noteworthy that foreign capital is also accelerating its allocation to the ChiNext Index. For instance, official data shows that in the first quarter of 2026, Qualified Foreign Institutional Investors (QFII) held a market value of 11.9 billion yuan in ChiNext Index constituent stocks, a 2.4-fold increase from the end of 2025.
It is reported that in recent years, products related to the ChiNext Index have been successively listed on more than ten exchanges in locations such as the United States, South Korea, Singapore, and Brazil, forming a cross-border product network covering major economies and initially building an around-the-clock, cross-time-zone trading ecosystem for ChiNext ETFs.
Song Yong'an, fund manager of ABC-CA Fund's ChiNext Index Fund, highlighted the prominent investment value of the ChiNext Index. Firstly, the ChiNext market exhibits high trading activity, with its average daily turnover repeatedly exceeding 800 billion yuan, providing ample liquidity to accommodate large-scale capital allocation needs. Secondly, the ChiNext Index demonstrates outstanding long-term growth potential, making its long-term return prospects highly favored by the market. Finally, the constituent companies of the ChiNext Index possess exceptional competitiveness, building deep moats through leading technological barriers and mature industrial scale, offering long-term, stable investment value.
The sustained market favor for ChiNext-related ETFs is also underpinned by the continuous optimization of the index ecosystem. On one hand, existing indices are constantly being upgraded by adjusting sample screening rules and optimizing the weighting structure of constituent stocks to better reflect the industrial development characteristics of the sector, thereby enhancing the index's representativeness and investment suitability.
Zhang Yichi added that in recent years, ChiNext-related indices have undergone continuous optimization and enhancement in their methodology, such as by imposing caps on individual stock weights and introducing ESG screening, making the index constituents higher quality and more resilient to risk.
On the other hand, efforts are being made to enrich the index spectrum around specific sectors and thematic investment strategies, further broadening the choices available to investors for allocating ChiNext-related assets and continuously improving the multi-layered index product matrix. For example, on July 21st, Shenzhen Securities Information Co., Ltd., a wholly-owned subsidiary of the Shenzhen Stock Exchange, announced that it would launch the ChiNext Communication Index on July 24th.
Data shows that since the launch of the ChiNext Index in 2010, 43 indices in the "ChiNext Series" have been introduced, constructing an index system covering broad-based size, industry themes, and style strategies, providing precise allocation tools for investors with different risk preferences. As of the end of June, 175 fund products have been developed based on "ChiNext Series" indices, with a total tracking product scale exceeding 230 billion yuan. Notably, the number of products tracking industry thematic indices increased by 24 in the past year, with their scale surging from 3.2 billion yuan to over 30 billion yuan.
Cheng Xi, fund manager of E Fund's ChiNext ETF, stated that the ChiNext Index has been continuously iterating, consistently maintaining an accurate grasp of the era's growth themes. Its constituent stocks cover hard technology directions such as new energy, high-end manufacturing, and AI computing power, perfectly mirroring the trajectory of China's economic structural transformation and industrial upgrading, making it a core benchmark for innovation and growth in the A-share market. Looking ahead, the ChiNext Index will continue to play a significant role in promoting technological innovation and serving national strategies, acting as an important bridge connecting capital and innovation.
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