FINANCE

Chinese Asset Managers Crowd Into AI Hardware

Published: Sep. 28, 2026 5:24 p.m. GMT+8

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China’s securities regulator approved 10 exchange-traded funds tracking the same ChiNext computing infrastructure index in late August, an unusually concentrated launch as major asset managers compete for AI hardware investment.

The funds, managed by 10 firms including E Fund Management Co. Ltd. and GF Fund Management Co. Ltd., all began fundraising in September.

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China approved 10 ETFs tracking the same ChiNext computing infrastructure index in late August; all began fundraising in September.
E Fund raised ~1.5B yuan ($224M), GF 1.3B, together over half of the nine funds’ total; others raised 273–461M yuan.
Trading diverged: E Fund’s ETF saw 883M yuan on its Sept. 18 debut vs Tianhong’s 303M on Sept. 16.

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Who’s Who

E Fund Management Co. Ltd.: E Fund Management Co. Ltd. was among 10 firms approved to launch ETFs tracking the ChiNext computing infrastructure index. Its ETF raised nearly 1.5 billion yuan ($224 million), the highest among nine funds. On its first trading day, Sept. 18, it recorded 883 million yuan in volume.

GF Fund Management Co. Ltd.: GF Fund Management Co. Ltd. launched an ETF tracking the ChiNext computing infrastructure index in September 2024. It raised 1.3 billion yuan ($224 million), the second-highest among nine funds, after E Fund's 1.5 billion yuan. The two firms accounted for over half of total capital raised.

Tianhong Asset Management Co. Ltd.: Tianhong Asset Management Co. Ltd. is one of 10 firms approved to launch ETFs tracking the ChiNext computing infrastructure index. Its ETF debuted on Sept. 16, with first-day trading volume of 303 million yuan.

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What Happened When

late August 2026：: China's securities regulator approved 10 exchange-traded funds tracking the same ChiNext computing infrastructure index.

September 2026：: All 10 funds began fundraising.

September 16, 2026：: Tianhong Asset Management Co. Ltd.’s ETF debuted (first listing day for that fund).

September 18, 2026：: E Fund’s ETF had its first listing day, recording 883 million yuan in trading.

September 24, 2026 (as of Thursday)：: Nine funds had completed fundraising; E Fund raised nearly 1.5 billion yuan, GF Fund raised 1.3 billion yuan, and the other seven funds raised between 273 million yuan and 461 million yuan.

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