On October 19, Chairman Wu Qing of the Securities Regulatory Commission said in a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting that the first batch of 18 active ETF registrations was approved, which is an important measure to promote innovation and development of fund products, and will also introduce more incremental capital into the market. Deng Shubin, chief economist at Zhongyuan Securities and director of the Securities Research Institute, explained that the active ETF launched this time marks an upgrade from medium- to long-term capital market entry being passively supported by broad-based indices to “active management+transparent standardization carriers.” Deng Shubin said that active ETFs combine the value mining ability of active stock selection with the advantages of ETF transparency, convenient redemption, and cost control. They meet medium- to long-term capital allocation needs such as social security, insurance, and annuities, and are a core product carrier for stabilizing capital implementation. The impact on introducing incremental capital into the market is reflected in at least two aspects: on the one hand, enriching long-term capital options to guide long-term money to no longer be limited to broad-based indices, which can be relied on professional active managers to find high-quality listed companies; on the other hand, it is combined with the buyback of municipal companies to form “long-term capital allocation+listed companies give back to shareholders” two-way support to further strengthen the market stability group, optimize the capital term structure, and reduce market fluctuations caused by short-term trading capital dominance.

On October 19, Chairman Wu Qing of the Securities Regulatory Commission said in a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting that the first batch of 18 active ETF registrations was approved, which is an important measure to promote innovation and development of fund products, and will also introduce more incremental capital into the market. Deng Shubin, chief economist at Zhongyuan Securities and director of the Securities Research Institute, explained that the active ETF launched this time marks an upgrade from medium- to long-term capital market entry being passively supported by broad-based indices to “active management+transparent standardization carriers.” Deng Shubin said that active ETFs combine the value mining ability of active stock selection with the advantages of ETF transparency, convenient redemption, and cost control. They meet medium- to long-term capital allocation needs such as social security, insurance, and annuities, and are a core product carrier for stabilizing capital implementation. The impact on introducing incremental capital into the market is reflected in at least two aspects: on the one hand, enriching long-term capital options to guide long-term money to no longer be limited to broad-based indices, which can be relied on professional active managers to find high-quality listed companies; on the other hand, it is combined with the buyback of municipal companies to form “long-term capital allocation+listed companies give back to shareholders” two-way support to further strengthen the market stability group, optimize the capital term structure, and reduce market fluctuations caused by short-term transaction capital dominance.