China Bond ETF Market Surpasses 1 Trillion Yuan for First Time, Led by Haitong Fund
China's bond ETF market has officially entered the "trillion-yuan era," with total assets under management across 53 products reaching 1.002 trillion yuan as of September 23, 2025, a 20.9% increase year-to-date. The market is highly concentrated, with 37 products exceeding 10 billion yuan each, accounting for 90.9% of total assets. Haitong Fund leads with 184.8 billion yuan, followed by Boshi Fund. Growth has been driven primarily by net inflows rather than price appreciation, attributed to institutional demand for transparent, low-cost investment tools.
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China Bond ETFs Enter Trillion-Yuan Era; 37 Products Exceed 100 Billion, Haitong Fund Leads
According to Wind Data and a report by 财联社 via Tencent Stock, China's bond ETF market has officially entered the 'trillion-yuan era,' with 53 products totaling 1,002.231 billion yuan as of September 23, a 20.9% increase from 829.024 billion yuan at the start of the year. Among these, 37 products each exceed 100 billion yuan, accounting for 90.9% of total bond ETF scale. Haitong Fund and Boshi Fund remain in the top tier with over 100 billion yuan each, while China Asset Management (华夏基金) and Fullgoal Fund (富国基金) hold the next positions. Significant competitive reshuffling occurred: E Fund, Ping An Fund, Southern Fund, and others rose in rankings, while China Merchants Fund and others fell behind. Haitong Fund led net inflows with 58.059 billion yuan, driven by its Urban Investment Bond ETF. Yongying Fund attributed the surge to institutional demand for transparent, low-cost, predictable standardized tools amid net-value management constraints and an expanding bond index system. However, some products like the 30-year treasury bond ETFs have not yet surpassed their previous net value highs. The report also notes that 24 Sci-Tech Innovation Bond ETFs saw net outflows of 7.279 billion yuan, with significant divergence among individual products.
Read sourceChina's Bond ETFs Enter Trillion-Yuan Era, Led by Haitong Fund with 580 Billion Yuan Inflows
China's bond ETF market has officially entered the 'trillion-yuan era,' with total assets under management reaching 1.002 trillion yuan as of September 23, according to Wind data. This marks a 20.9% increase from 829 billion yuan at the start of the year. The market is highly concentrated, with 37 products exceeding 10 billion yuan accounting for 90.9% of total assets. Haitong Fund leads with 1.85 trillion yuan in bond ETF assets, followed by Boshi and Fullgoal. Haitong also attracted the largest net inflows of 580.6 billion yuan year-to-date. However, competition is reshaping the landscape: some managers like Yinhua and Fullgoal saw net outflows, while others like Yinhua and Fullgoal saw net outflows, while others like Yinhua and Fullgoal saw net outflows, while others like Yinhua and Fullgoal saw net outflows. The article notes that 36 of 53 bond ETFs hit record net asset values on September 23, driven by institutional demand for transparent, low-cost, and predictable investment tools amid capital management constraints. The analysis from Yongying Fund attributes the surge to a convergence of risk appetite and the expansion of bond index offerings.
Read sourceChina's Bond ETF Market Breaches 1 Trillion Yuan Milestone for First Time
China's bond ETF market has surpassed 1 trillion yuan in total assets under management for the first time, reaching 1,001.999 billion yuan as of September 23, according to data cited by China Fund News. The milestone follows a surge in 2025 driven by policy support and product innovation, including the launch of benchmark corporate bond ETFs and 24 science-and-technology innovation bond (Sci-Tech Innovation Bond) ETFs. The market now comprises 53 products, with 37 exceeding 10 billion yuan each, concentrated in a few large players. HaiTong Fund leads with 184.8 billion yuan across six ETFs, followed by Boshi Fund with 108 billion yuan. The article notes that growth has been primarily driven by net inflows rather than price appreciation, and highlights trends toward credit downgrading, duration extension, and instrument-based investing. Fund managers from Penghua Fund and others see continued opportunities in Sci-Tech Innovation Bond ETFs, citing product expansion, limited supply pressure, and new demand from amortized-cost bond funds. However, challenges remain, including cross-market trading and liquidity issues.
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China's Bond ETFs Surpass 1 Trillion Yuan for First Time, Haitong and Boshi Lead
China's bond ETF market has reached a historic milestone, with total assets under management surpassing 1 trillion yuan (10,019.99 billion yuan) as of September 23, according to a China Fund News report. The sector has seen explosive growth in 2025, driven by policy support, product innovation, and investor risk aversion. Key drivers include the launch of benchmark market-making corporate bond ETFs and 24 sci-tech innovation bond (Sci-Tech Innovation) ETFs. Haitong Fund leads with 184.8 billion yuan across six products, followed by Boshi Fund with 108 billion yuan. The report notes that fund inflows, rather than price appreciation, are the primary growth driver. Analysts at Penghua Fund expect continued opportunities for Sci-Tech Innovation bond ETFs, citing product expansion, limited supply pressure, demand from amortized cost bond funds, and the expansion of OTC Sci-Tech Innovation bond index funds. The market faces challenges including cross-market trading and insufficient liquidity.
Read sourceChina Bond ETFs Enter Trillion-Yuan Era; 37 Products Exceed 100 Billion Yuan
China's bond ETF market has officially entered the 'trillion-yuan era,' with total assets under management across 53 products reaching 1.002 trillion yuan as of September 23, 2025, up 20.9% year-to-date. Among these, 37 products each exceed 100 billion yuan, accounting for 90.9% of total bond ETF assets. Haitong Fund leads with 1.848 trillion yuan, followed by Boshi Fund at 1.081 trillion yuan. Haitong's short-term financing ETF is the largest single product at 840.36 billion yuan. Net inflows for the period exceeded 1.6 trillion yuan, with Haitong attracting 580.59 billion yuan. However, some managers saw outflows, including China Merchants Fund with 71.15 billion yuan. Yongying Fund attributed the surge to institutions seeking transparent, low-cost, and predictable tools amid capital management constraints, and to the expansion of bond index offerings. Many products also hit record net asset values, though long-duration treasury bond ETFs have not yet surpassed their earlier highs.
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