[The first batch of active ETFs from the Shanghai Stock Exchange were approved to help medium and long-term funds enter the market] October 19th, the first batch of active ETFs from the Shanghai Stock Exchange were officially approved by the China Securities Regulatory Commission on October 19, 2026. Active ETFs combine the professional investment research capabilities of active management with the standardized operation advantages of ETFs. They have the characteristics of transparent positioning and convenient transactions. They are another important measure to deepen the reform of the investment side, better meet the needs of investors for diversified asset allocation, and attract medium and long-term funds to enter the market. The first batch of active ETF managers on the Shanghai Stock Exchange have strong active equity fund investment management capabilities and rich ETF operation experience. Their product investment strategies focus on low turnover, high diversification, and relatively stable types, including market balance, market growth, dividend value, etc. As of the end of September 2026, there were a total of 943 ETFs listed and traded on the Shanghai Stock Exchange, with a total scale of 3.35 trillion yuan. With the implementation of the new "Nine National Regulations", policies to promote the entry of medium and long-term funds into the market and the high-quality development of the public fund industry, the ETF market of the Shanghai Stock Exchange has entered a new stage of high-quality development. The market function continues to play, and incremental funds enter the market at an accelerated pace. The scale of medium- and long-term fund holdings is nearly 1.7 trillion yuan, accounting for more than half. Next, under the guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange will implement the "15th Five-Year Plan" recommendations on "improving the inclusiveness and adaptability of the capital market system, improving the capital market functions that coordinate investment and financing," and "accelerating the construction of Shanghai as an international financial center." It will continue to enrich the investment product system, continuously enhance investors' sense of gain, build a "long-term investment" market ecosystem, and empower the high-quality development of the public fund industry.