Daily Turnover Hits 562.93 Billion Yuan!

Daily Turnover Hits 562.93 Billion Yuan! A Look at China's ETF Popularity and the Global Market Landscape

As of the close on October 13, China's ETF market delivered an impressive trading performance—with a total turnover of 562.93 billion yuan across both exchanges. This figure not only reflects domestic investors' preference for ETF instruments but also underscores the rapid rise of China's ETF market in the global landscape.

From the perspective of domestic trading structure, bond ETFs emerged as the main driver of daily trading, dominating with a turnover of 222.358 billion yuan, which aligns with the market's demand for low-risk asset allocation. QDII-type ETFs followed closely, with a turnover of 80.399 billion yuan, indicating a sustained increase in investors' willingness to allocate global assets through cross-border ETFs. Equity ETFs recorded a turnover of 160 billion yuan; as a core tool for index investing, they maintained stable trading activity. Money market ETFs and commodity ETFs had turnovers of 42.722 billion yuan and 13.036 billion yuan respectively, fulfilling functions of liquidity management and asset hedging in their respective niche areas. From a longer-term scale perspective, by the end of the third quarter of 2025, the total scale of China's full-market ETFs had reached 5.63 trillion yuan, a record high. Moreover, in July 2025, China officially surpassed Japan to become the largest ETF market in Asia, with net capital inflows of 108.92 billion US dollars in the past year, ranking first in the Asia-Pacific region.

Looking at the global market, the competitive landscape of the ETF sector shows distinct regional differentiation. The United States, as the origin and absolute leader, has long accounted for half of the global market. According to relevant data in 2025, the U.S. ETF market accounts for approximately 50% of the global share; the S&P 500 ETF (VOO) under Vanguard alone has a scale of over 630 billion US dollars, nearly 70% of the total scale of China's full-market ETFs. Although its average daily turnover is lower than that of State Street's SPY, it continues to attract capital inflows with its low-cost advantage and is even expected to become the world's largest ETF. The European market ranks second with a 30% global share, characterized by a rich variety of cross-border ETF products that cater to the diversified allocation needs of investors across European countries.

The Asia-Pacific region ranks third with a 20% global share but is the fastest-growing regional segment—from 2014 to April 2025, the compound annual growth rate of ETF assets in the Asia-Pacific region reached 24%, far exceeding the global average growth rate of 19%. Among them, the rise of the Chinese market is the most notable: it has not only surpassed Japan in scale but also continuously improved its product structure, with broad-based index ETFs occupying a core position. The scale of emerging broad-based index ETFs such as the CSI 500 has exceeded 210 billion yuan. Other Asia-Pacific countries like South Korea exhibit distinct characteristics dominated by retail investors—among the top 50 overseas securities purchased by South Korean investors in April, 32 were ETFs, mostly leveraged or inverse products listed in U.S. and Japanese stock markets, reflecting local investors' preference for cross-border high-volatility instruments.

The table below clearly presents the core structure of the global ETF market in 2025 and the positioning of the Chinese market:

Regional Market	Global Share	Core Characteristics	Representative Data/Products
United States	~50%	Largest scale, mature products; dominated by low-cost broad-based ETFs	VOO has a scale of over 630 billion USD; SPY has an average daily turnover of nearly 29 billion USD
Europe	~30%	Rich cross-border products; high proportion of institutional investors	Focus on cross-border asset allocation, catering to multi-country market needs
China	~3.6% (30.7% in Asia-Pacific)	Fastest growth, largest in Asia; driven by both broad-based and cross-border products	Total scale of 5.63 trillion yuan; net inflow of 108.92 billion USD in the past year
Other Asia-Pacific Countries	~7%	Active retail investors; preference for cross-border ETFs	32 overseas ETFs among South Korea's top 50 purchased securities in April

Looking back at China's daily turnover of 562.93 billion yuan on October 13 from a global perspective, this is not only a direct reflection of liquidity in the domestic market but also an epitome of China's ETF market transitioning from a "follower" to a "leader." With accelerated product innovation and optimized investor structure, the Chinese market is expected to occupy a more important position in the global ETF landscape and become a key hub connecting Asia-Pacific and global assets.