China's publicly offered funds hit new highs in 2025, with the scale of exchange-traded funds (ETFs) reaching 5.78 trillion yuan (around 821 billion U.S. dollars) by Friday, representing a growth of more than 2 trillion yuan, or 53 percent, within the year, according to financial data provider Wind Information.
The ETF market has undergone a much faster growth, with the scale rising from 4 to 5 trillion yuan in just four months. Previously, it took 14 years for the number to rise from 0 to 1 trillion.
Two batches of sci-tech innovation bond ETFs were listed successively in July and September this year. So far, the scale of 24 sci-tech innovation bond ETFs has reached 257.664 billion yuan, an increase of 269 percent compared with the issuance scale of 69.773 billion yuan. Among them, the scale of 16 ones has each topped 10 billion yuan.
Meanwhile, China also saw significant growth in the fund of funds (FOF) this year. As of Dec 17, the fund-raising scale of the 79 FOFs established within the year reached 80.354 billion yuan, exceeding the total issuance of the previous three years. The average issuance scale of a single product reached 1.049 billion yuan, more than three times that of 2024.
China's ETFs increase 53 pct in 2025
China has issued a trial guideline on the ethics review and service of artificial intelligence (AI) technology, the Ministry of Industry and Information Technology said on Friday.
The guideline, jointly issued by 10 government departments, including the ministry, calls for efforts to support technological innovation in AI ethics review and to strengthen the use of technical measures to prevent AI-related ethical risks.
The guideline clarifies that the review should focus on human well-being, fairness and justice, and controllability and trustworthiness.
It also details issues that should be addressed in the review, such as the selection criteria for training data, the rationality of the algorithm, model and system design, and measures to prevent bias, discrimination and algorithmic exploitation.
The guideline also calls for promoting the orderly open-sourcing of high-quality datasets for AI ethics review, strengthening the development of general risk management, assessment and auditing tools, and exploring risk assessment based on application scenarios.
It also encourages the promotion of AI products and services that comply with scientific and technological ethics, and the protection of intellectual property rights in AI ethics review technologies.
China issues guideline for AI ethics governance
