China Tech-Themed ETFs Draw RMB 45B In One Month

The scale of the inflows is notable less for its size than for its timing: money kept entering hard-tech ETFs even as the broader A-share market fell, suggesting these vehicles are being used as a conviction allocation rather than a momentum trade. The immediate rebound in telecom and semiconductor shares right after the window closed hints that this flow may itself have become a marginal price-setter in those pockets of the market. Whether the bid persists if the wider index keeps sliding is the open question.