China Bond ETFs Top 300B Yuan in Daily Turnover for Fifth Straight Day

The persistence of this turnover, rather than any single session's record, is the signal: sustained ETF activity at this scale suggests bond exposure is being traded tactically rather than held, with short-term financing vehicles drawing the heaviest flows. That concentration implies liquidity is pooling in the shortest-duration, most cash-like segment of the credit curve, while corporate and sci-tech products remain secondary. Whether this rotation toward front-end instruments continues, or broadens into longer-duration credit, is the open question worth tracking in coming sessions.