FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
1. Building of China Securities Regulatory Commission

FILE: Shanghai, China - Date Unknown (CCTV - No access Chinese mainland)
2. Various of building, sign of Shanghai Stock Exchange

FILE: Shenzhen City, Guangdong Province, south China - Date Unknown (CCTV - No access Chinese mainland)
3. Various of sign, building of Shenzhen Stock Exchange

FILE: China - Date Unknown (CCTV - No access Chinese mainland)
4. Various of traders working, screens showing stock information

Tianjin Municipality, north China - Recent (CCTV - No access Chinese mainland)
5. SOUNDBITE (Chinese) Tian Lihui, academic committee member, China Capital Market Society:
"The launch of the first batch of active ETFs fills a critical gap in domestic on-exchange active equity instruments. It not only meets the diversified allocation needs of retail investors, but also provides new investment vehicles for medium- to long-term institutional capital, such as insurance and pension funds. This will help cultivate a long-term investment philosophy among investors and further optimize the overall capital market ecosystem."

FILE: China - Date Unknown (CCTV - No access Chinese mainland)
6. People entering outlet of China Securities
7. Brochure about ETF products
8. Various of traders working, screens showing stock information

FILE: Shanghai, China - Date Unknown (CCTV - No access Chinese mainland)
9. Aerial shots of cityscape, buildings

FILE: Shenzhen City, Guangdong Province, south China - Date Unknown (CCTV - No access Chinese mainland)
10. Aerial shots of cityscape, buildings

China launched 18 actively managed exchange-traded funds (ETFs) on Friday, which could channel tens of billions of yuan into the A-share market, as it seeks to enrich the supply of public investment products and attract medium- to long-term capital into the market.

Unlike passive ETFs that track a specific index, these actively managed funds empower portfolio managers to make dynamic investment choices, aiming to outperform a benchmark index or achieve specific investment objectives.

As a major innovation in the development of China's ETF market over the past two decades, these 18 new funds will be available for trading on both the Shanghai and Shenzhen Stock Exchanges.

They will be issued by 18 top-tier domestic and international fund managers, including industry heavyweights such as China Asset Management, Southern Asset Management, E Fund, and JPMorgan Asset Management.

"The launch of the first batch of active ETFs fills a critical gap in domestic on-exchange active equity instruments. It not only meets the diversified allocation needs of retail investors, but also provides new investment vehicles for medium- to long-term institutional capital, such as insurance and pension funds. This will help cultivate a long-term investment philosophy among investors and further optimize the overall capital market ecosystem," said Tian Lihui, an academic committee member of the China Capital Market Society.

China's regulatory authorities first signaled their support for these products at the Lujiazui Forum in Shanghai this past June. Subsequently, on Oct 19, the China Securities Regulatory Commission officially approved their launch.

These new products enter a rapidly expanding market. As of the end of September, China's capital market boasted a total of 1,692 ETFs, with a combined net asset value reaching 4.92 trillion yuan (about 737 billion U.S. dollars).