Shanghai ETFs Draw Over RMB 75B in Three-Day Net Inflow

The concentration in broad-based vehicles suggests the bid is allocator-driven rather than a bet on any single theme, with sector and thematic flows a smaller satellite. That distinction matters for how durable the inflow is: broad-based demand tends to track policy and index-level sentiment, while thematic money rotates faster. Whether the broad-based share keeps growing, or the mix tilts toward narrower bets, is the open question.