In recent times, gold consumption has continued to be hot. Whether it is jewelry for daily wear or gold bars used to store value, it has become a popular choice for many families.
This time, Russia really made a lot of money. While everyone is still staring at the mess in the Middle East, Russian presidential assistant Ushakov has confirmed to the outside world that the United States not only held talks with Ukraine in Florida, but also informed Moscow of the trump cards of that conversation in great detail. This is an extremely dangerous signal, which indicates that in this three-party game, the balance is tilting devastatingly.
Although Russia, the United States, and Ukraine still say they want to seek peace talks on the surface, in fact, the security working group that was finally put together has been completely shut down. Russian Deputy Foreign Minister Galuzin also confirmed this. The reason why the negotiations cannot be pushed forward is so simple that it is chilling. Because Washington can't take care of Ukraine at all now, their energy must be used first to deal with the chicken feathers in the Middle East.
You see, this is Putin's brilliance. He sits firmly on the Diaoyutai and watches his opponents fall into the pit he dug. Russia's attitude is now very playful. While they generously express their willingness to communicate and welcome the United States' continued efforts, they are showing their sharpest fangs on the battlefield. In contrast, Zelensky is frantic. The Ukrainian leader has repeatedly emphasized recently that peace in Ukraine should not be driven by the situation in the Middle East and that negotiations must be resumed as soon as possible. But how could he have the final say in this matter?
Zelensky knows very well that as long as the conflict in the Middle East continues for one more day, Ukraine will be the fish in the pond. The current battle report has torn away the last fig leaf of tenderness. The wily Putin will never let go of this golden opportunity. According to a briefing from the Ukrainian Air Force, the Russian army has just launched one of the largest drone attacks since the conflict.
In just nine hours, 556 drones covered the sky. If the time is extended to a whole day, the number of drones of various types dispatched by the Russian army is close to a thousand. How is this ordinary harassment? This is the decisive spring offensive launched by the Russian army against Donetsk and other key areas in eastern Ukraine. Analysts are very sure that the Russian army's actions this year are earlier and more ruthless than in previous years.
What is even more frightening is the complete change in the way of fighting. For the past year, the Russian army has only used small-scale infantry to work and infiltrate there. What now? That is a real large-scale mechanized push. In just one week, the Russian army launched 1,336 attacks. The news coming back from the Ukrainian front line is disappointing. A torrent of steel composed of dozens of tanks and armored vehicles is rolling forward.
From Kiev to Nikolayev, from Poltava to Vinnitsa, the Russian army's attack range is much wider than before, and the hit accuracy is astonishingly high. Zelensky has to admit that the current situation is quite bad. Russia's core goal has never changed, which is to completely capture the remaining lands of the four Udong states. Spring is here, and all the power accumulated in winter is exploding at this moment.
Putin has been ruthless in both diplomacy and military matters. Diplomatically, since the tripartite negotiations have stopped, I have reason to pursue and fight fiercely on the battlefield. The more land I occupy, the more bargaining chips I have on the negotiation table. And what about the United States? Trapped in the quagmire of the Middle East, they were afraid that Russia would take advantage of the situation, so they did not dare to take serious action against Moscow and could only watch Ukraine being beaten.
The most realistic problem is that the U.S. arsenal has bottomed out. They wanted to put out the fire, but they didn't have enough water. The European side cannot count on it. Most of their own equipment is bought from the United States. Now that the war in the Middle East continues and everyone in Europe is in danger, how can there be any leftover food to support Kiev?
What makes Ukraine even worse is that the energy crisis in the United States has not yet been resolved. In order to lower oil prices, it even had to temporarily relax energy sanctions on Russia. Putin is fighting a war and making money at the same time. With money, you will be more confident and invest in more missiles and tanks. Even Japan, which is closely following the United States, is beginning to be unable to sit still. Under the high-pressure line of G7 sanctions, it is tremblingly looking for a breakthrough for its own energy future.
The situation is now very clear, and the initiative lies entirely in Moscow's hands. If Zelensky still has some unrealistic illusions, then Putin’s drones and missiles will make him completely accept reality. In the law of the jungle of international politics, when the United States is caught in another fire, Putin is the calmest and most deadly hunter.
This afternoon, the case of the designated estate administrator of "Ms. Deng, 53, Xuhui", which has attracted much public attention, was held in the Huajing Town Circuit Court.
The Xuhui District People's Court made a verdict in court: appointing the Xuhui District Civil Affairs Bureau as the estate administrator.
Currently, the Huajing Town Impression Xuhui Neighborhood Committee, as the designated guardian, is implementing Ms. Deng’s funeral arrangements.
court hearing scene
Previously, 53-year-old Ms. Deng collapsed in a rental house due to a cerebral infarction. Since she had no close relatives, temporary custody became a big problem.
Under this circumstance, Xuhui District issued the first notarized certificate of temporary guardianship and issued an "identity card" of the temporary guardian to the neighborhood committee of the place of residence as Ms. Deng's temporary guardian, opening up a life path to support her.
Just seven days later, the Xuhui District People's Court issued a judgment and designated the neighborhood committee as the guardian.
rescue scene
Unfortunately, in the early morning of March 19, Ms. Deng's vital signs suddenly became unstable, and she was declared clinically dead after rescue efforts failed.
A single person died unexpectedly and left an inheritance of about 6 million. Ms. Deng's incident became a hot topic after being reported.
How should this huge inheritance be handled in the future?
On March 24, the Huajing Town Impression Xuhui Neighborhood Committee, as the designated guardian, applied to the Xuhui Court to designate the Xuhui District Civil Affairs Bureau as the estate administrator.
Xuhui Court accepted the case and filed it on the same day.
Thanks to the complete investigation report on Ms. Deng’s close relatives issued by the Xuhui Notary Office, the Xuhui Court was able to avoid repeated investigations and quickly found out that Ms. Deng had no legal heir.
On this basis, the Xuhui Court shortened the trial period and held a hearing on the case 7 days after the case was filed.
"Request the People's Court to designate the Shanghai Xuhui District Civil Affairs Bureau as the administrator of Deng **'s estate."
In court, the applicant read out the lawsuit.
The Civil Affairs Bureau issued an opinion stating that it is up to the court to determine whether Deng ** has a legal heir and a will in accordance with the law.
During the evidentiary stage, the neighborhood committee issued Ms. Deng’s death certificate, designated guardian’s judgment, and notarized investigation report and other materials to prove the fact that Ms. Deng was dead and had no legal heir.
After hearing the case, the court held that after the inheritance begins, the executor shall be the estate administrator; if there is no executor, the heirs shall promptly elect an estate administrator; if no heir is elected, the heirs shall jointly serve as the estate administrator; if there is no heir or the heirs have all given up the inheritance, the civil affairs department or the village committee of the deceased's residence shall serve as the estate administrator. If there is a dispute over the determination of the estate administrator, the interested party may apply to the People's Court for the appointment of an estate administrator.
According to the evidence in the case, Ms. Deng had no legal heir when she died. As Ms. Deng’s guardian, the applicant has the right to file an application to designate an estate administrator in this case. Since Ms. Deng’s registered residence and usual place of residence during her lifetime were both located in Xuhui District, Shanghai, the applicant’s application to appoint the respondent as the administrator of Ms. Deng’s estate is reasonable and well-founded and should be supported.
Sentencing screen
After the trial, Qi Yinchuan, the presiding judge of the case and the judge of the Civil Tribunal of Xuhui Court, said that since May last year, the Xuhui Court has regularized the presence of judges in the comprehensive management centers of various subdistricts and towns. By holding court sessions at the doorsteps of residents, it has achieved the effect of hearing one case and managing one.
From "Ms. Jiang in Hongkou" to "Ms. Deng in Xuhui", social attention to topics related to guardianship support for special groups and estate administrators is also increasing day by day. This case was held in the form of a circuit trial, also to promote the popularization of the law, so that the legal system can truly open up the "last mile" of the popularization of the law.
Judge interviewed
In the future, Xuhui District will also pass the "Ms. Deng Case" to solidify the experience and practices gained through exploration through mechanisms, so that the dividends of the system can benefit more groups.
Related news
She left alone, leaving behind a huge inheritance. Her circumstances during her lifetime triggered discussions throughout Shanghai.
A few days ago, a 53-year-old woman living alone in Shanghai, Ms. Deng, suffered a cerebral infarction and collapsed in a rental house.
Because both parents are dead, unmarried, childless, and have no close relatives, temporary custody becomes a big problem.
Fortunately, the Xuhui District Civil Affairs Bureau promptly made it clear that the place of household registration would take a step forward and assume the responsibility for temporary guardianship, which brought a turn for the better for Ms. Deng's rescue.
On March 11, the People's Court of Xuhui District officially issued a judgment and designated the Huajing Town Impression Xuhui Residents Committee as the guardian of Ms. Deng. The Xuhui District Notary Office issued the first notary certificate of temporary guardian in the district, and issued a legal "temporary ID card" to the neighborhood committee of the place of residence as Ms. Deng's temporary guardian, opening up a life path.
The picture shows the relevant notarial certificates
Previously, Ms. Deng's condition improved for a time, "she can open her eyes, but her consciousness is still relatively vague." The millions of assets in Ms. Deng's name also provided a solid financial guarantee for her follow-up treatment and care.
Ms. Deng’s condition improved for a time
However, the unfortunate news still came. The reporter learned today that in the early morning of March 19, Ms. Deng's vital signs suddenly became unstable. After rescue efforts failed, she was declared clinically dead at 2:47.
During a previous interview, the reporter learned that Ms. Deng was a demolition resettlement household and had never purchased any real estate. She had been renting a house for a long time. There was still nearly 6 million yuan in demolition compensation in her personal account that had not been used.
The will is still being checked among Ms. Deng’s belongings. If it is confirmed that Ms. Deng has no designated funeral arrangements, the Huajing Town Impression Xuhui Neighborhood Committee, as the designated guardian, will formally submit an application to the court. Through the court’s judgment, the civil affairs department in the jurisdiction will be designated as the administrator of her estate and carry out estate management work in accordance with laws and regulations.
Some netizens said:
This will happen more and more in the future
I hope the relevant departments will pay attention to it
@陈波: This situation will become more and more common in the future. They are all only children, many of whom are unmarried and have no children. What should I do if they become disabled and have dementia when they get old? It’s not that there is no money, it’s that they can’t decide how to use it independently. The government needs to establish a system as soon as possible to deal with it.
@ Quanquan: There are more and more people like this now, and more and more people born after 2000 will not get married.
@ღ世᭄ꦿ࿐宝༉: After following it for a long time, I still saw this bad news! Thinking that one day I will grow old, who will help me if I have no children?
@人无码不了不愿了: This kind of thing will happen more and more in the future, so it’s better to write your will as soon as possible while your mind is clear and your body is in good health.
@安小 boxes: Can you set up a special account for the special disposal of uninherited inheritance, which can be used to help some lonely elderly people or orphans?
@海平 Dusi: This has become a social problem. This situation will become more and more common in the future. I hope the government departments will pay attention to it and set up a government-trusted security agency.
@louizeyun: For the elderly living alone, I think the community has an obligation to remind the elderly to establish a will as early as possible and can change it at any time. It’s best to have one online, convenient channel, and don’t have to run around.
Some netizens are worried:
There will be "relatives" popping up to fight for the inheritance.
@ʚChen’s motherɞ: Just watch, there will be “relatives” popping up next!
@ The Promise of Promise: 600W inheritance, there are definitely relatives.
Some netizens lamented:
No one knows
Which comes first, tomorrow or the accident?
Live the moment
@君jun who gave up playing cards: The person dies, but the money hasn’t been used up yet. No one knows which will come first, tomorrow or the accident, so be kind to yourself.
@杨小omi: Enjoy the moment, and you won’t be able to take anything with you in the end.
@saixiongfei: Things are unpredictable, and it proves once again: Just be kind to yourself if you live one day in this world. Eat what you should eat, drink what you should play, and play. No matter how much money you have, it’s useless. If you don’t bring it with you in life, you won’t bring it with you in death~
@园园十: People live a lifetime and enjoy the moment. If you don’t bring it with you in life, you won’t take it with you in death!
@hellen: Live in the moment and be happy every day
Do you still remember the feeling of powerlessness that you felt when you were staring at a blank manuscript paper for the first time? The teacher always said, "Be relevant to reality", but other than "I'm very touched", I can't hold back a third point of view; I obviously took notes carefully, but when I started writing, it felt like a news repeater... Isn't this about you? According to education data in December 2025, 76% of junior high school students believe that news commentary is the "hard nut" in Chinese homework - but the good news is that as long as you master the core methods, your composition can soar from passing to excellent in 3 days!
1. Solve the dilemma: Why do your comments always sound like “news rereads”?
The fundamental problem lies in mistaking "statement" for "comment". For example, when reporting "Shenzhou 18 was successfully launched," 90% of students would write, "The astronauts are great and the technology is very advanced." This is just reciting the news facts. Really high-scoring comments need to refine the logical chain behind the event: extending from "successful launch" to "how China's aerospace technology affects people's livelihood" (such as the improvement of weather forecast accuracy within a ±5% error range), and then comparing the international aerospace development pattern... (Do you suddenly have an idea?)
Real case comparison:
2. Quick toolbox: 3 templates solve 80% of writing scenarios
Template A: Social hot topics (applicable to topics such as poverty alleviation and environmental protection)
Quotation (1 paragraph): Summarize the core of the news in one sentence + throw out the perspective of thinking. Example: “Behind the romance of Yunnan’s wild elephant herds migrating northward is the epitome of the game between human activities and nature.”
Analysis (2 paragraphs): Analysis from three levels: policy orientation (such as national ecological protection policy), social effects (tourism development), and dialectical contradictions (costs of resolving human-animal conflicts).
Couple (1 paragraph): Combining your own experience. Example: "Just like the transformation of garbage classification in our school from 'formalism' to real implementation, it requires simultaneous iteration of system and consciousness..."
Conclusion (1 paragraph): Use metaphor to sublimate. Example: "Ecological protection is not a multiple-choice question, but a question that must be answered in order to survive - everyone is a problem solver."
Template B: Scientific and technological achievements (applicable to aerospace, infrastructure and other themes)
Directly apply the "small incision, big depth" method: select a detail (such as astronauts teaching in space), compare it with international cases (international space station cooperation process), and then focus on cultivating young people's scientific literacy. Writing like this will immediately let the marking teacher see the depth of your thinking!
Template C: Characters and deeds (suitable for reporting on model figures)
Avoid the "greatness-touching-learning" routine and try to deconstruct the contemporary significance of the characters' actions. For example, when writing about Zhang Liangang's research and development of automated terminals, he not only praises his dedication, but also analyzes "how his innovation reduces logistics costs (affecting online shopping prices by ±3%), thereby promoting changes in consumption patterns."
3. Practical Q&A: From "Can't Write" to "Writing Without Stop"
@ MoRanchuxin asked: “I have a lot of ideas after reading the news, but what should I do if I get confused as soon as I write?”
Answer: Use a viewpoint tree diagram to organize your ideas: write the core viewpoint in the main stem (such as "the benefits of the double reduction policy outweigh the disadvantages"), write arguments in the branches (increased coverage of after-school services, data on alleviating parents' anxiety), and add cases in the leaves (a school's intangible cultural heritage courses are popular). After visual sorting, the writing logic becomes natural and clear.
@ Galaxy Wanderer asked: "The teacher always says that the argument is not in-depth, how can I break it?"
Answer: I’ll give you a formula for in-depth three-question questions:
4. Guide to avoid pitfalls: Don’t step into these minefields!
Avoid empty talk: Avoid empty expressions such as "I think" and "everyone knows". Each opinion must be supported by facts (even if it is just details in the news).
Don’t be extreme: critical comments should be constructive. For example, if you write "a certain place is polluted", you don't say "officials are incompetent", but "it may be more effective to combine regulatory technology upgrades with public supervision."
Avoid stacking: Don’t ask for too many materials but ask for accuracy. One in-depth analysis case is better than three general examples (in fact, I also made this mistake back then...)
5. High-score easter eggs: advanced skills that dazzle teachers
Finally, I would like to give you a piece of advice: The essence of news commentary is mental gymnastics - showing your value pattern through information selection and selection. When watching the news broadcast tonight, try to use the memo on your mobile phone to write down "the most touching scenes + the most cognitively subversive points + the questions you most want to ask." If you stick to it for a week, you will find that writing changes from a task to a fun output of thoughts.
Action tip: Open the news network at 19:00 tomorrow night, choose any piece of news and write a 200-word short comment using a template, focusing on practicing the paragraph ratio of "analysis" and "connection" (recommendation 3:2). With continuous practice, your composition will not only have a point of view, but also a soul!
Since 2022, China Central Radio and Television Station’s CCTV-2 financial channel has accelerated the promotion of full-chain, all-round, and all-field innovation, striving to achieve a good trend of “full screen with high-quality products”, and its leading position in the professional financial market has become increasingly stable. According to survey data from CSM Soft, financial channels accounted for 93.33% of the national financial program market in May, a year-on-year increase of 4%, setting a new monthly share since Soft had ratings data in 2001.
The channel's main time period ratings increased significantly year-on-year
Since May, the ratings of the financial channel's main time periods have increased significantly year-on-year, with the morning time period having the highest increase of 100%; the morning, noon, afternoon, prime and evening time periods have all increased by more than 25%.
Among them, programs such as "First Time" in the morning, "Online Finance" at noon, "Go Home for Dinner" in the afternoon, prime time "Economic Half Hour", "Economic Information Broadcast" and "Dialogue" and "China Economic Lecture" broadcast in the evening time slot closely follow the current social and economic hot spots and have outstanding ratings. In May, the financial channel's innovative large-scale original life service puzzle program "Super Lifestyle Home" also continued to set off a ratings boom.
The first broadcast of the program boosted the ratings across the board
In May, the ratings of many first-run programs on the financial channel increased significantly. Among them, the average increase of seven "Zhengdian Finance" reached 93%, "The Final Word" increased by 69%, "Dialogue" increased by 54%, "China Economic Lecture Hall" increased by 52%, and "First Time" and "World Finance" also increased by more than 40%.
"Zhengdian Finance" reports the latest financial events in a timely manner, refines data, mines stories, conducts comments, and creates the latest and fastest professional financial information flow. "The Final Word" aims to "find the most discerning art investors" and conveys the cultural connotation of art, investment trends and other relevant knowledge to the audience. "Dialogue" follows hot topics, and in May broadcasts content on topics such as "Salute to the Most Beautiful Workers" and "China's Choice of Big Scientific Devices." "China Economic Lecture Hall" broadcast the "Hard Core Infrastructure" series in May, focusing on major national projects such as the South-to-North Water Diversion Project and the West-to-East Power Transmission Project.
Special planning of new media to increase viewership
CCTV Financial New Media, in conjunction with the Central Committee of the Communist Youth League, launched the integrated media program "New Youth, New Economy - Enjoy Youth" on the May 4th Youth Day, opening a cloud dialogue and creating a virtual cloud online topic event that all youth and users can attend together. It tells the story of innovation and practice in the new era, demonstrates the cultural confidence of China's new youth, and conveys the positive energy of youth struggle. The total number of views on the program reached 29 million, and the total reading volume of many topic words such as "Ding Zhen's schedule before and after the year" exceeded 400 million times.
On May 10, "China Brand Day", the integrated media program "China Consumer Brand Trends (2022)" was launched, which aroused widespread social response. "China Consumer Brand Trends (2022)" focuses on the transformation and upgrading paths of Chinese brands in the current consumption field, and summarizes the five development trends of "new domestic products", "green and low carbon", "user co-creation", "virtual and real complementarity" and "value return". At the same time, based on the observation of market segments that have grown rapidly in the past year, it released five "Chinese consumer brand tracks", namely "Staying at Home", "Parent-Child Mobilization", "New Outdoor Fashion", "Light Care and Health Trend" and "Pet Love is Priceless". The five "Chinese consumer brand trends" and the five "Chinese consumer brand tracks" provide important reference for the development of Chinese brands and Chinese enterprises.
What is Dogecoin?
Glossary
Dogecoin (currency code: DOGE) was born on December 8, 2013. It is the first generation of cryptocurrency and the second largest virtual currency in the world after Bitcoin in terms of user count. It can safely transfer value around the world.
Dogecoin was founded by Billy Marcus and Jackson Palmer. Both men worked in the technology field before starting the Dogecoin project. Marcus is a software engineer at IBM and Palmer is a programmer at Adobe. Dogecoin is a digital currency symbolized by the Japanese Shiba Inu dog. The developers designed it this way to give people a relaxing and enjoyable experience with the tokens. Like Bitcoin and Litecoin, Dogecoin enables peer-to-peer transactions to be conducted without censorship.
In 2021, Dogecoin has once again attracted people’s attention. Retail investors fought back against short-selling hedge funds, with the token rising more than 800% in 24 hours. The backlash was organized by Reddit users, spearheaded by "WSBChairman" (username). It also received strong support from Elon Musk, the world’s richest man and Tesla CEO. (From the translation team of Shenyi Bureau-36Kr.)
How to buy Dogecoin
Dogecoin is currently available on some exchanges. Binance and Kraken both support Dogecoin. Most importantly, these exchanges are fiat channels. You can buy cryptocurrencies directly using your debit or credit card. First, you need to fund your account and then convert your fiat currency to Bitcoin, Ethereum, or any other currency. (From the translation team of Shenyi Bureau-36Kr.)
How to store Dogecoin
There are many ways to store Dogecoin today. One of the best ways to do this is by depositing into the Jaxx wallet. The Jaxx wallet is free for both Apple and Android devices. Not only can it be used to store Dogecoin and other currencies, but it can also be traded directly by users. (From the translation team of Shenyi Bureau-36Kr.)
The overall performance of stock funds this year has been poor, but the total share of funds has shown a slow growth trend, and there are significant signs of institutional increases.
Multiple stock funds after holidays
Obtain funds to increase positions
In the afternoon of September 20, near the end of trading, the A-share index rose significantly, with the Shanghai Composite Index closing up 0.03% and the CSI 300 Index up 0.16%. Judging from the transaction situation, during the late call auction stage, the overall volume of A-shares increased significantly, with the Shanghai Composite Index’s transaction volume reaching 8.073 billion yuan within 3 minutes, and the Shenzhen Component Index’s transaction volume within 3 minutes reaching 6.732 billion yuan.
ETFs related to broad market indexes also experienced explosive growth. According to statistics from Securities Times·Dabao, on September 20, the transactions of Huatai-Berry CSI 300 ETF and E Fund CSI 300 ETF exceeded 7.5 billion yuan and 5.7 billion yuan respectively. Harvest CSI 300 (160706 ) ETF and ChinaAMC CSI 300 ETF had a turnover of 3.801 billion yuan and 3.723 billion yuan respectively; the total turnover of the above four ETF funds exceeded 20 billion yuan, and the turnover reached a new high in the past two months.
Industry analysts said that big funds are more focused on injecting liquidity into the market with the help of broad-based indexes, which plays a stronger supporting role for the index. In the future, we need to continue to pay attention to the clearing effect of some congested industries on the supply side, as well as the catalysis produced by the policy of expanding domestic demand on the demand side. The current valuation level of A-shares has reached a relatively low value in history, and asset prices are relatively cheap. Some minor marginal improvements may also evolve into upward momentum.
In just three trading days after the Mid-Autumn Festival, stock funds continued to receive net inflows of funds. According to Wind data, from September 18 to September 20, the net inflow of equity funds exceeded 23 billion yuan. The net inflows of six funds exceeded 1 billion yuan, namely Huatai-Berry CSI 300 ETF, E Fund CSI 300 ETF, ChinaAMC CSI 300 ETF, E Fund GEM ETF, China Southern CSI 1000 ETF, and GF CSI 1000 ETF.
These six funds are all targets of heavy holdings by institutions. At the end of the second quarter of this year, the proportion of institutions holding five funds including ChinaAMC CSI 300 ETF, E Fund CSI 300 ETF, GF CSI 1000 ETF, Southern China Securities 1000 ETF, and Huatai-Berry CSI 300 ETF exceeded 80%. In addition, the institutional holding ratio of GEM ETF reached 65.18%; the institutional holding ratio of ChinaAMC CSI 300 ETF was as high as 97.41%. At the end of the second quarter, Central Huijin, known as the "national team", held more than 75% of the fund. Compared with the end of 2023, the holding ratio increased by more than 1.8 times.
Institutional equity funds
The right to speak has been significantly improved
The trend of A-shares will be relatively sluggish in 2024, the overall performance of stock funds is poor, and the net values of many funds have shrunk, but the total fund share has shown a slow growth trend.
According to statistics from Databao, as of September 22, the shares of stock funds reached 2.96 trillion, an increase of more than 10% from the end of 2023. This may mean that despite the overall poor performance of the market, investors maintain a relatively optimistic attitude towards the future equity market and believe that the investment value will still exist in the long run.
Behind the substantial growth in fund shares, it is not unrelated to the continued increase in positions by institutional investors. According to the semi-annual report data disclosed by the fund, as of the end of the second quarter, the net value of equity funds held by institutions was 1.58 trillion yuan, reaching a record high, an increase of more than 500 billion yuan compared with the same period last year.
At the same time, the voice of institutions in stock funds has increased significantly. At the end of the second quarter, institutional holdings accounted for 51.03%, exceeding 50% for the first time since 2007. On the contrary, at the end of the second quarter, the net value of individual investors' positions shrank by more than 100 billion yuan compared with the same period last year, and the proportion of their positions in stock funds dropped to 48.97%, a new low since 2007.
More than 50 institutions have heavy positions
Stock fund share growth
Which stock funds are most favored by institutions? According to statistics from Databao, at the end of the second quarter, institutions held 17 stock funds with a net worth of over 10 billion yuan.
The net institutional holdings of 4 funds related to the CSI 300 Index rank in the top 4, namely Huatai-Berry CSI 300 ETF, E Fund CSI 300 ETF, Harvest CSI 300 ETF, and ChinaAMC CSI 300 ETF. The highest net value of institutional holdings is the Huatai-Berry CSI 300 ETF, reaching 170.43 billion yuan. Central Huijin holds nearly 60% of the fund.
Institutional holdings with higher net worth include ChinaAMC SSE 50 (510050) ETF, China Southern CSI 500 ETF, E Fund GEM ETF, E Fund SSE Science and Technology Innovation Board 50 ETF, and Southern China Securities 1000 ETF.
How have these institutionally-heavy stock funds performed recently? According to statistics from Databao, at the end of the second quarter, there were 158 stock funds held by institutions with a net worth of more than 1 billion yuan and a holding ratio of more than 50%.
The overall return rate of these funds since September is -3.09%, and 6 of them have a return rate of more than 3%, namely E Fund CSI Hong Kong Stock Connect Medical and Health Comprehensive ETF, Southern CSI All-Inclusive Real Estate ETF, Invesco Great Wall CSI Hong Kong Stock Connect Technology ETF, Harvest Hong Kong Stock Connect New Economy C, ICBC China Securities Hong Kong Stock Connect Technology ETF, and Harvest Frontier Technology A.
Compared with the end of August, more than 50 of the above-mentioned 158 funds have a growth rate. The shares of five funds increased by more than 10%, namely Cathay CSI All Home Appliances ETF, Southern CSI 300 ETF, Wells Fargo Shanghai Composite Index ETF, Invesco Great Wall CSI Hong Kong Stock Connect Technology ETF, and Cathay Shanghai Composite ETF.
The share of Cathay CSI All-Index Home Appliances ETF increased by 20.27%, ranking first. The fund's top holding at the end of the second quarter was Midea Group (000333), followed by Gree Electric (000651), Haier Smart Home (600690), Sanhua Intelligent Control (002050), etc.
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