The regulatory authorities have announced the launch of active ETFs in the early stages. What is the current status? What are the next work considerations in terms of diversifying market investment tools, etc.? A: An active ETF is a public fund product where fund managers rely on professional investment and research capabilities to independently carry out stock selection, timing, and allocation, without the goal of tracking specific indices. It also has the characteristics of active general fund management and flexible and transparent ETF transactions. It can meet the needs of investors with different risk preferences and continue to introduce incremental capital into the market. Since I announced the launch of active ETFs in June of this year, fund companies have been actively reporting. The first batch of 18 active ETFs was registered on October 19, and fundraising began on October 23. The overall fundraising trend is good. As of November 2, the total amount raised has exceeded 35 billion yuan. Of these, 16 products have reached the upper limit of a single fundraising scale of 2 billion yuan and have ended fundraising. In the next step, the Securities Regulatory Commission will guide and encourage 18 active ETFs that have already been raised to speed up investment and position opening. At the same time, we will continue to increase the supply and innovation of equity fund products to support the countercyclical layout of fund managers. Launch more new index stock ETFs to enrich in-market investment tools. Research and launch multi-asset index funds, such as a constant ratio of shares and bonds, to enrich OTC medium- and low-volatility products to better meet the investment needs of different investors. Fund managers are encouraged to issue more floating rate funds to further strengthen the binding of fund managers and holders' interests.

The regulatory authorities have announced the launch of active ETFs in the early stages. What is the current status? What are the next work considerations in terms of diversifying market investment tools, etc.? A: An active ETF is a public fund product where fund managers rely on professional investment and research capabilities to independently carry out stock selection, timing, and allocation, without the goal of tracking specific indices. It also has the characteristics of active general fund management and flexible and transparent ETF transactions. It can meet the needs of investors with different risk preferences and continue to introduce incremental capital into the market. Since I announced the launch of active ETFs in June of this year, fund companies have been actively reporting. The first batch of 18 active ETFs was registered on October 19, and fundraising began on October 23. The overall fundraising trend is good. As of November 2, the total amount raised has exceeded 35 billion yuan. Of these, 16 products have reached the upper limit of a single fundraising scale of 2 billion yuan and have ended fundraising. In the next step, the Securities Regulatory Commission will guide and encourage 18 active ETFs that have already been raised to speed up investment and position opening. At the same time, we will continue to increase the supply and innovation of equity fund products to support the countercyclical layout of fund managers. Launch more new index stock ETFs to enrich in-market investment tools. Research and launch multi-asset index funds, such as a constant ratio of shares and bonds, to enrich OTC medium- and low-volatility products to better meet the investment needs of different investors. Fund managers are encouraged to issue more floating rate funds to further strengthen the binding of fund managers and holders' interests.