Shanghai Stock Exchange
Newsletter - November 2025
Newsletter - November 2025
Source: SSE, Wind, as of Nov 30, 2025
SSE Monthly News Highlights
Investing in China for Shared Wins: 2025 SSE Global Investors Conference Kicks Off in Shanghai
2025/11/12
On November 12, the 2025 SSE Global Investors Conference opened in Shanghai. As a key annual flagship event hosted by the SSE for the global investment community, this year's conference centered on the theme "Value-driven, Openness-empowered, New Investmenet and M&A Opportunities for Global Investors", attracting over 100 renowned investment institutions from Europe, the Americas, Asia-Pacific, the Middle East, and other regions, with nearly 400 representatives registered and participated.
https://english.sse.com.cn/news//newsrelease/c/c_20251113_10798209.shtml
Overseas Investors Hold over 3.5 Trillion Yuan Worth of China A-Shares
2025/11/12 Source: Global Times
China's capital market has continued to expand its high-level institutional opening-up, with the value of A-shares held by overseas investors rising from over 3 trillion yuan ($420 billion) at the end of 2020 to more than 3.5 trillion yuan at present.
https://english.sse.com.cn/news/newsrelease/voice/c/c_20251113_10798211.shtml
SSE Facilitated New Launches of Hold-type Real Estate ABS Projects
2025/11/18 Source: CNS
SSE announced on November 18 that the "Taiping Asset - Century Internet Data Center Hold-Type Real Estate Green Asset-Backed Special Plan" has been established on the SSE, with an issuance scale of 860 million yuan.
This project represents the first green hold-type real estate ABS in China's data center industry and the second nationwide data center hold-type real estate ABS product, marking another breakthrough in the Internet Data Center (IDC) infrastructure sector of the multi-tiered REITs (Real Estate Investment Trusts) market.
https://english.sse.com.cn/news/newsrelease/voice/c/c_20251125_10799715.shtml
This project represents the first green hold-type real estate ABS in China's data center industry and the second nationwide data center hold-type real estate ABS product, marking another breakthrough in the Internet Data Center (IDC) infrastructure sector of the multi-tiered REITs (Real Estate Investment Trusts) market.
SSE Green Bond (including ABS) Cumulative Issuance Approaches 900 Billion Yuan
2025/11/27
By the end of October 2025, total issuance of green bonds (including ABS) on the SSE has approached 900 billion yuan. Since the launch of low-carbon transformation bonds in 2022, their cumulative issuance has exceeded 80 billion yuan.
In addition to corporate bonds and traditional asset-backed securities, the SSE has also been building the public REITs market and institutional REITs market in the green sector in recent years. Clean energy, as one of the key pilot industries for public REITs, currently has a total issuance scale of 16.2 billion yuan for projects listed on the SSE, covering fields such as photovoltaics, wind power, and hydropower.
http://english.sse.com.cn/news//newsrelease/c/c_20251128_10800100.shtml
In addition to corporate bonds and traditional asset-backed securities, the SSE has also been building the public REITs market and institutional REITs market in the green sector in recent years. Clean energy, as one of the key pilot industries for public REITs, currently has a total issuance scale of 16.2 billion yuan for projects listed on the SSE, covering fields such as photovoltaics, wind power, and hydropower.
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 | 1700 | 53.36 | 625.20 | -14.04 |
| STAR Market | 593 | 9.44 | 182.72 | -21.94 |
| Total (A Shares) | 2293 | 62.79 | 807.92 | -15.97 |
Index Performance
Note: the indexes are rebased to October 31, 2025
| Indexes | Closing Price | Monthly Performance | YTD Performance | PE* |
|---|---|---|---|---|
| SSE Composite | 3888.60 | -1.67 | 16.02 | 15.95 |
| SSE 50 | 2969.62 | -1.39 | 10.61 | 11.97 |
| STAR 50 | 1327.15 | -6.24 | 34.20 | 62.12 |
| CSI 300 | 4526.66 | -2.46 | 15.04 | 14.70 |
| CSI 500 | 7031.55 | -4.08 | 22.81 | 27.36 |
*Based on previous year's annual report, excluding loss-making companies
Capital Raised through IPO
| Market | 2025 November | 2025 Total | ||
|---|---|---|---|---|
| No. of IPO | Capital Raised (RMB bn) | No. of IPO | Capital Raised (RMB bn) | |
| SSE Main Board | 3 | 3.25 | 22 | 42.22 |
| STAR Market | 1 | 1.01 | 12 | 17.96 |
| Total | 4 | 4.26 | 34 | 60.18 |
Shanghai-Hong Kong Stock Connect
| Average Daily Trading Value (RMB bn) | MoM Change (%) | |
|---|---|---|
| Northbound | 104.67 | -22.81 |
| Southbound | 59.76 | -33.77 |
Bond Market Overview
| Bond Types | Market Value (RMB bn) | MoM Change (%) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|
| Treasury bonds | 1298.05 | 1.35 | 22.20 | -17.07 |
| Local government bonds | 2301.96 | 3.55 | 1.62 | -31.34 |
| Financial bonds | 56.04 | -0.02 | 0.28 | 235.18 |
| Corporate bonds & Enterprise bonds | 13797.38 | 1.12 | 76.86 | 1.18 |
| Convertible bonds | 448.81 | -2.04 | 30.36 | -16.24 |
| Asset-backed securities | 1674.82 | 2.59 | 3.68 | -3.35 |
| Total* | 19577.06 | 1.46 | 135.00 | -7.04 |
*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 | 785 | 4075.78 | 0.28 | 325.96 | -20.19 |
| LOF | 119 | 10.26 | -1.49 | 0.27 | -14.71 |
| REITs | 52 | 147.74 | 0.39 | 0.42 | 12.85 |
| Total | 956 | 4233.78 | 0.28 | 326.65 | -20.15 |
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 | 0.90 | -26.54 | 101.63 | 1.14 | -17.64 | 98.44 |
| CSI 300 ETF Options | 1.12 | -20.86 | 111.88 | 1.15 | -8.72 | 108.61 |
| CSI 500 ETF Options | 1.53 | -14.74 | 113.27 | 1.13 | -14.50 | 131.35 |
| ChinaAMC STAR 50 ETF Options | 1.40 | -31.79 | 92.63 | 1.92 | -10.27 | 105.41 |
| E FUND STAR 50 ETF Options | 0.27 | -37.18 | 96.08 | 0.55 | -6.33 | 91.58 |
SSE New Listed Companies
| Code | Name | Industry | Market Cap. (RMB bn) | PE (TTM) | Listing Day Performance (%) |
|---|---|---|---|---|---|
| Main Board | |||||
| 603092.SH | Delijia Transmission Technology (Jiangsu) Co.,Ltd. | Capital Goods | 27.02 | 34.57 | 51.07 |
| 603376.SH | Daming Electronics Co.,Ltd. | Automobiles & Components | 15.58 | 55.23 | 413.55 |
| 603334.SH | Suzhou Fengbei Biotech Stock Co., Ltd. | Commercial & Professional Services | 6.24 | 40.41 | 172.60 |
| STAR Market | |||||
| 688727.SH | Xiamen Hengkun New Materials Technology Co., Ltd. | Semiconductors & Semiconductor Equipment | 22.11 | 219.41 | 310.61 |
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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