China’s First 18 Active ETFs Draw Over 15 Billion Yuan on Debut Day

The debut's scale matters less than its structure: three products hitting their caps and closing early with proportional allotment signals demand outran the initial supply, and the roughly 2.17 billion yuan of self-purchase by brokerages and fund companies adds a layer of aligned skin in the game. That in-house commitment also blurs the line between genuine client demand and distribution support, which is the real test for China's active ETF experiment. Whether these products hold assets after the debut window, and whether the self-subscribed portion stays put, is the open question.