Shanghai Stock Exchange Holds Kickoff Meeting for First Active ETFs

The significance lies less in the product launch than in the exchange's framing: active ETFs are being positioned as a channel for medium- and long-term capital, which signals policy intent to deepen A-share institutional participation rather than simply widen the fund menu. The nine managers and seven brokers in the room indicate distribution is being lined up before listing. The open question is whether the "step-by-step" risk-control posture translates into a deliberately slow rollout, and how full-chain oversight of investment operations affects how actively these products can actually be run.