Shenzhen Stock Exchange revises and releases guidelines for securities investment fund business.

Shanghai Stock Exchange revised and released the "Guidelines for the Application of the Self-Regulatory Supervision Rules for Index Funds of Shanghai Stock Exchange No. 1 - Index Funds", which will be implemented from November 19, 2025. Fund managers who plan to develop index funds and list them on this exchange must meet the following requirements if the underlying index is not a broad-based stock index: the number of constituent securities of the underlying index must be no less than 30; the weight of a single constituent security of the underlying index must not exceed 15% and the combined weight of the top 5 constituent securities must not exceed 60%; the publication time of the underlying index should not be less than 3 months, approved by the China Securities Regulatory Commission, except for indexes that comply with national strategic and industrial policies; the average daily trading volume of constituent securities with a weight of over 90% in the index in the past year must be in the top 80% of all listed stocks on their respective stock exchanges.