[China Securities Index Company releases the first domestic white paper on the index field] On November 12, at the 2026 International Investors Conference of the Shanghai Stock Exchange, China Securities Index Company released the first domestic "White Paper on the Development of Indexes and Indexed Investments" to systematically sort out the development overview and trends of domestic and overseas indexes and indexed investments for investors. According to reports, the white paper is the first industry research report in the domestic market from the perspective of indexes and index products. The relevant research covers on- and off-market products, stocks and bonds and other asset classes, as well as major index types such as broad-based, strategic, and cross-border indexes, providing authoritative reference for regulatory agencies, asset managers and investors. The white paper shows that by the end of 2025, the scale of global ETFs will reach US$19.8 trillion, with annual net inflows of US$1.87 trillion, and the development of strategic, fixed-income, multi-asset, and actively managed ETFs is accelerating. At the same time, the white paper is based on domestic and overseas development trends and policy environments, and forward-lookingly proposes three major directions: First, continue to expand the multi-level index system. Closely following the "15th Five-Year Plan" and national strategies, we will promote index innovation and product ecology to increasingly improve by focusing on the five major directions of broad-based flagship iteration, future industrial layout, medium and long-term capital allocation, stable investment tools, and cross-border interconnection. The second is to explore the compilation of the AI ​​technology empowerment index. Drawing on international experience, domestic index institutions may explore the auxiliary support of AI in index plan design and other aspects to further expand the service boundaries and market depth of index investment. The third is the transformation and upgrading of index functions. The index industry has evolved from a "tool provider" to a "core carrier of asset allocation", and the role of indexes and index products in asset allocation, performance benchmarks, and cross-border interconnection continues to strengthen.