Rescue and relief operations are in full swing after a 7.0-magnitude earthquake struck Baqen County in Nagqu City, southwest China's Xizang Autonomous Region, on Thursday night.
The quake, which hit at 22:33 Thursday Beijing time (14:33 GMT), is the strongest to strike China this year. It has killed 16 people and injured 76 others.
In a village of the worst-hit Maru Township, the majority of houses have suffered severe damage, leaving most structures uninhabitable. Entire walls and rooms of traditional earthen houses have collapsed, rendering virtually no dwellings safe for occupation.
A temporary logistics area has been established near the village. Hundreds of rescue vehicles, ranging from passenger automobiles to heavy engineering machinery, are currently parked at the site. According to preliminary figures, more than 200 armed police officers have arrived to spearhead relief efforts.
The area features towering stacks of bottled water, instant noodles, and other essential provisions, with officers diligently organizing and distributing the supplies to affected families.
In a neighboring village, troops from the People's Liberation Army have prepared tent frames, beds, and chimneys, working swiftly to assemble temporary housing. Emergency medical vehicles from the health system and standby units from the fire and rescue services remain on constant alert nearby.
Rows of newly erected emergency tents now dot the area, growing in number overnight to accommodate displaced villagers more spaciously. Inside the tents, temporary bedding has been laid out for immediate rest, with plans underway to install formal cots.
Following sustained efforts by various rescue teams, a total of 12,489 affected residents have been safely relocated.
Relief efforts scale up in hardest-hit township of Xizang earthquake
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).
China launches 18 active ETFs to woo long-term investors
