Chinese Brokers Gear Up to Sell First Active ETFs

This marks a structural shift for China's ETF market, moving from passive indexing into active management—a test of whether broker distribution can add value beyond low-cost index products. The flagged hurdles—system upgrades, risk planning, and advisory quality—suggest early movers may not automatically win, making operational execution the real differentiator. Watch whether active ETFs force brokers to rethink their sales models, or if they merely replicate passive flows with higher fees.