Recently, the China Securities Regulatory Commission (CSRC) officially approved the first batch of nine active ETFs to be listed on the Shenzhen Stock Exchange (SZSE). This marks a landmark innovation breakthrough in China's onshore ETF market, and serves as a key measure to deepen comprehensive investment and financing reform, attract medium- and long-term capital into the market, and advance the high-quality development of the public fund industry.

Prior to the approval, under the overall guidance of the CSRC, SZSE adhered to the principles of "pilot first, gradual advancement, and strict risk prevention" and made proactive and prudent preparations for the product launch, with priority given to core links such as active ETF investment strategies, institutional framework building, system optimization, risk prevention and control, and investor education. Backed by fund management companies' in-house research strengths and distinctive expertise, the first batch of active ETFs focuses on prudent strategies including balanced allocation, value investing, and dividend strategies, providing investors with more diversified asset allocation options and channeling capital more efficiently toward high-quality investment targets.

Since the start of this year, SZSE has actively fulfilled the requirements stipulated in the Action Plan for Promoting the High-quality Development of Public Funds, notably its call to "advance the innovative development of equity fund products". Building on the ChiNext reform, we have launched innovative ChiNext sector-themed ETFs covering computing power, fin-tech and battery industries, and have continued to optimize the supporting mechanisms such as fund liquidity services and block trading, to foster a market ecosystem featuring long-term capital and long-horizon investment.

Going forward, SZSE will make solid efforts in the issuance and listing of these active ETFs to ensure their smooth launch. At the same time, we will continue to strengthen the development of investment side and ultimately contribute to the high-quality growth of the public fund industry.