Shanghai Stock Exchange
Newsletter - October 2025
Newsletter - October 2025
Source: SSE, Wind, as of October 31, 2025
SSE Monthly News Highlights
First Batch of Newly Registered Companies Listed on Sci-Tech Innovation Board's STAR Market Growth Tier
2025/10/28 Source: People's Daily
On October 28, with the sound of a gong, three unprofitable companies were listed on the SSE. This marks the first batch of newly registered unprofitable companies since the "1+6" reform of the STAR Market in June this year, and also the first batch of newly registered companies to be listed on the STAR Market's Growth tier.
http://english.sse.com.cn/news/newsrelease/voice/c/c_20251029_10796429.shtml
China Unveils Biggest Upgrade of Foreign Investor Rules since 2020 to Boost Long-term Inflows
2025/10/27 Source: China Daily
According to a work plan released on Monday by the CSRC, the qualified foreign institutional investor system will be optimized in key areas to address foreign investors' key concerns, including improving market access, facilitating investment operations, broadening investment scope, and clarifying policy expectations. Major new initiatives will include allowing qualified foreign investors to use exchange-traded fund options for risk management, expanding their access to commodity futures and options trading, and unifying short-term trading rules to ensure equal treatment for foreign and domestic institutions.
http://english.sse.com.cn/news/newsrelease/voice/c/c_20251028_10796280.shtml
China's Economy Shows Stable Growth Trend with Positive Factors Accumulating
2025/10/20 Source: Xinhua
China's economy demonstrated stable growth, with GDP expanding 5.2 percent year on year in the first three quarters of 2025, as positive factors accumulated despite global headwinds, the National Bureau of Statistics (NBS) data showed. China's GDP reached over 101.5 trillion yuan (about 14.3 trillion U.S. dollars) in the first three quarters. In the third quarter, the country's GDP expanded 4.8 percent year on year.
https://english.sse.com.cn/news/newsrelease/voice/c/c_20251021_10795499.shtml
"Inception, Inheritance, Pivoting and Synergy": Overview of SSE's Reform and Development During the "14th Five-Year Plan" Period
2025/10/17
During the period of the "14th Five-Year Plan", the SSE, together with all market participants, has stayed committed to the primary task of high-quality development, aligned itself with the national agenda of economic and social development, and steadily pursued the goal of building a world-class stock exchange. As of today, the SSE runs the world's third-largest stock market, the world's largest exchange bond market, and the second-largest ETF market in Asia, with its options ranking among the world's most actively products of the same kind.
https://english.sse.com.cn/news//newsrelease/c/c_20251024_10795896.shtml
2025 Stock Exchange International Workshop Kicks Off in Shanghai
2025/10/13
On October 13, the 2025 Stock Exchange International Workshop (2025 SEIW) was officially opened in Shanghai. 192 representatives from 31 stock exchanges across Algeria, Armenia, Bangladesh, Botswana, Bhutan, Egypt, Greece, Iran, Japan, Jordan, Kazakhstan, Malaysia, Mongolia, Myanmar, Nepal, Nigeria, Pakistan, Qatar, Russia, Singapore, Somalia, Thailand, the United Arab Emirates, the United Kingdom, Vietnam and China, as well as from the Federation of Euro-Asian Stock Exchanges (FEAS), registered and attended for the program.
https://english.sse.com.cn/news//newsrelease/c/c_20251013_10794506.shtml
SSE Monthly Data
Equity Market Overview
| Market | No. of Listed Companies | Total Market Cap. (RMB tn) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|
| Main Board A | 1697 | 53.93 | 727.35 | -5.09 |
| STAR Market | 592 | 9.82 | 234.08 | -11.90 |
| Total (A Shares) | 2289 | 63.75 | 961.42 | -6.84 |
Index Performance
Note: the indexes are rebased to September 30, 2025
| Indexes | Closing Price | Monthly Performance | YTD Performance | PE* |
|---|---|---|---|---|
| SSE Composite | 3954.79 | 1.85 | 17.99 | 16.19 |
| SSE 50 | 3011.55 | 0.76 | 12.17 | 11.90 |
| STAR 50 | 1415.53 | -5.33 | 43.14 | 66.36 |
| CSI 300 | 4640.67 | 0.00 | 17.94 | 14.96 |
| CSI 500 | 7331.00 | -1.10 | 28.04 | 28.42 |
*Based on previous year's annual report, excluding loss-making companies
Capital Raised through IPO
| Market | 2025 October | 2025 Total | ||
|---|---|---|---|---|
| No. of IPO | Capital Raised (RMB bn) | No. of IPO | Capital Raised (RMB bn) | |
| SSE Main Board | 2 | 1.69 | 19 | 38.97 |
| STAR Market | 3 | 8.84 | 11 | 16.95 |
| Total | 5 | 10.52 | 30 | 55.92 |
Shanghai-Hong Kong Stock Connect
| Average Daily Trading Value (RMB bn) | MoM Change (%) | |
|---|---|---|
| Northbound | 135.60 | -6.87 |
| Southbound | 90.23 | -7.86 |
Bond Market Overview
| Bond Types | Market Value (RMB bn) | MoM Change (%) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|
| Treasury bonds | 1280.80 | -1.02 | 26.77 | -24.11 |
| Local government bonds | 2223.03 | 3.15 | 2.36 | 9.26 |
| Financial bonds | 56.06 | 0.09 | 0.08 | -56.37 |
| Corporate bonds & Enterprise bonds | 13645.12 | 1.20 | 75.96 | 9.18 |
| Convertible bonds | 458.18 | -5.34 | 36.24 | -20.21 |
| Asset-backed securities | 1632.62 | 1.97 | 3.81 | -6.78 |
| Total* | 19295.80 | 1.16 | 145.23 | -7.33 |
*Bond repo not included
Fund Market Overview
| Fund Types | No. of Listed Products | Market Value (RMB bn) | MoM Change (%) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|---|
| ETF | 772 | 4064.37 | 1.90 | 408.42 | 19.19 |
| LOF | 119 | 10.41 | -0.55 | 0.31 | 21.06 |
| REITs | 51 | 147.17 | -0.88 | 0.37 | -4.69 |
| Total | 942 | 4221.95 | 1.80 | 409.11 | 19.17 |
Derivatives Market Overview
| Options | Average Daily No. of Contracts Traded (mn) | MoM Change (%) | Volume Put/Call Ratio (%) | Total Open Interest | MoM Change (%) | Open Interest Put/Call Ratio (%) |
|---|---|---|---|---|---|---|
| SSE 50ETF Options | 1.22 | -3.08 | 96.29 | 1.39 | 4.01 | 89.00 |
| CSI 300 ETF Options | 1.42 | -1.16 | 116.82 | 1.26 | 12.27 | 103.45 |
| CSI 500 ETF Options | 1.79 | -9.73 | 113.47 | 1.32 | 22.24 | 126.47 |
| ChinaAMC STAR 50 ETF Options | 2.05 | -7.16 | 103.38 | 2.14 | 19.22 | 89.90 |
| E FUND STAR 50 ETF Options | 0.44 | -3.09 | 107.03 | 0.59 | 21.97 | 90.46 |
SSE New Listed Companies
| Code | Name | Industry | Market Cap. (RMB bn) | PE (TTM) | Listing Day Performance (%) |
|---|---|---|---|---|---|
| Main Board | |||||
| 603175.SH | Dynamic Electronics Co., Ltd. | Technology Hardware And Device | 32.16 | 130.20 | 397.60 |
| 601026.SH | Techstorm Advanced Material Corporation Limited | Materials | 14.97 | 71.11 | 396.32 |
| STAR Market | |||||
| 688759.SH | Bebetter Med Inc. | Biomedicine | 15.37 | -279.29 | 74.41 |
| 688765.SH | Wuhan Healthgen Biotechnology Corp. | Biomedicine | 44.17 | -274.67 | 213.49 |
| 688783.SH | Xi'An Eswin Material Technology Co., Ltd. | Semiconductor | 116.01 | -164.22 | 198.72 |
Edited by LI Tianfang, FANG Yuqin, Dept. of International Affairs, Shanghai Stock Exchange.
Global Investor Services Team
Dept. of International Affairs
Shanghai Stock Exchange | 上海证券交易所
Dept. of International Affairs
Shanghai Stock Exchange | 上海证券交易所
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