Economy & Markets
2 min read
Record China ETF Outflows Indicate National Team Is Cooling the Rally
Bloomberg.com
January 19, 2026•3 days ago
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China's state-backed "national team" ETFs experienced record outflows of 101 billion yuan ($14.5 billion) on Friday. This significant withdrawal signals authorities are actively working to temper the market rally and prevent a potential bubble. Analysts and traders interpret these outflows as a direct intervention to cool down China's stock markets.
A basket of exchange-traded funds owned by China’s so-called national team saw another day of record outflows on Friday, adding to signs that authorities are stepping in to curb the risk of a bubble.
Eight ETFs tracked by Bloomberg, which include the Huatai Pinebridge CSI 300 Index ETF and E Fund ChiNext ETF, saw a record 101 billion yuan ($14.5 billion) in outflows on Friday. Though state funds’ involvement will be evident only through filings, analysts and traders have attributed those flows as proof that the national team is acting to cool markets.
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