Two Chinese dual-innovation ETFs each top RMB 5B in trading volume

The signal here is concentration of activity rather than direction: two flagship growth-board trackers alone clearing more than RMB 10 billion combined suggests these vehicles have become the default expression of sentiment toward China's dual-innovation theme, rather than niche allocations. That matters most for anyone using turnover as a proxy for conviction, since heavy ETF volume can reflect positioning churn as much as fresh demand. Whether this level of activity persists, and whether it stays confined to these two benchmarks, is the open question worth watching.