China Securities Index Company: By December 2025, the main market capitalization and comprehensive indexes of A-shares have generally increased, with the CSI 500 Index rising by 6.17%.

On January 16, China Securities Index Company released the "Index and Index Investment Monthly Report (December 2025)". In December 2025, the CSI All-Share Index closed at 5919.12 points, up 3.25%; the main A-share market scales and composite indexes generally rose, with the CSI 500 Index up 6.17%; in terms of thematic indexes, the satellite industry, satellite navigation, and general aviation indexes rose by 42.46%, 28.42%, and 25.36% respectively. I. Capital market performance A. Main indexes at home and abroad A-share index In December, the CSI All-Share Index closed at 5,919.12 points, up 3.25%. Scale and composite index In December, the main scale and composite indexes of the A-share market generally rose, with the CSI 500 Index up 6.17%. Industry index In December, the CSI All-Share first-tier industry indexes varied, with the all materials index up 10.72%. Thematic index In December, the satellite industry, satellite navigation, and general aviation indexes rose by 42.46%, 28.42%, and 25.36% respectively. Style and dividend index In December, the main style indexes generally rose, with the 800 growth index and the 500 growth index up 7.05% and 6.01% respectively. In December, the main dividend indexes varied, with the dividend growth index and the private enterprise dividend index up 2.77% and 1.58% respectively. Cross-border and offshore stock indexes In December, the main cross-border and offshore indexes experienced a slight decline, with the mainland enterprise index and the Hong Kong stock connect 50 index down by 0.53% and 0.56% respectively. Fixed income index In December, the CSI All-Bond Index rose by 0.13%. By maturity, the changes in the CSI 1, 3, 7, 10, and 10+ bond indexes were 0.14%, 0.18%, 0.12%, -0.04%, -0.63% respectively. By type, the changes in the CSI treasury bond, comprehensive bond, financial bond, corporate bond, and short-term bond indexes were -0.45%, -0.04%, 0.06%, 0.13%, 0.15% respectively. Equity fund index In December, the CSI equity fund index rose by 2.81%. B. Stock and ETF trading Table 1: Stock and ETF trading in December Data source: Shanghai Stock Exchange, Shenzhen Stock Exchange, Beijing Stock Exchange C. Stock index futures trading Table 2: Stock index futures trading in December Data source: China Financial Futures Exchange D. On-exchange option trading Stock index options Table 3: Stock index options trading in December Data source: China Financial Futures Exchange ETF options Table 4: ETF options trading in December Data source: Shanghai Stock Exchange, Shenzhen Stock Exchange II. Index publication overview As of the end of December 2025, China Securities Index Company has published a total of 2827 main indexes, including 515 indexes in the Shanghai series and 2312 indexes in the CSI series. Among them, there are a total of 1800 stock indexes, accounting for 64%, covering comprehensive, scale, industry, theme, strategy, style, and other categories. Table 5: Distribution of index types of China Securities Index Company A. New indexes in December In December, a total of 2 new indexes were issued, including 1 self-developed index. Table 6: List of new indexes in December Stock indexes Theme indexes The CSI ASEAN Digital Economy Theme Index selects 50 listed companies' securities in the digital economy field with good liquidity and large market value from each exchange in ASEAN to reflect the overall performance of securities of listed companies in the digital economy field in the ASEAN member countries. B. Index revision in December 4 indexes were revised in December. Table 7: List of revised indexes in December The contents of the revision of the CSI Hong Kong Consumption Theme Index are: (1) Revision of the investable screening rule to "For securities within the sample space, calculate the median daily turnover rate per month as the monthly turnover rate, and exclude securities whose average monthly turnover rate for the past 12 months or the past 3 months is less than 0.1%, unless the average daily turnover amount of the security in the past year is more than HKD 50 million"; (2) Revision of selection method to select 50 securities in the consumption fields such as food, beverage, durable consumer goods, textiles and clothing, jewelry, leisure services, and retail industry as index samples; (3) Revision of the weight upper limit rule to "The weight of a single sample shall not exceed 15%, and the sum of the top five samples shall not exceed 60%"; (4) New regular adjustment proportion limit: The number of samples adjusted each time generally does not exceed 20%. The other parts of the index compilation plan remain unchanged. The contents of the revision of the Shanghai Ocean Economy Theme Index are: (1) Revision of the sample space: the sample space of the SSE 180 Index; (2) Addition of investable screening rules: ranking in the top 90% of the average daily turnover amount in the past year; (3) Revision of the selection method: for securities within the sample space that meet the investable screening criteria, select the top 50 securities in terms of the average daily total market value in the fields of shipping, shipping, ports, offshore wind power generation, offshore oil and gas exploration and oilfield services, deep-sea fishing, marine bioproducts among the listed companies' securities; (4) Revision of the weighting method: freely circulated market value weighting, with the weight of a single sample in the fields of shipping, shipping, ports, deep-sea fishing, and marine bioproducts not exceeding 10%, and the weight of other single samples not exceeding 3% and the total weight not exceeding 20%. The other parts of the index compilation plan remain unchanged. The contents of the revision of the CSI Ocean Economy Theme Index are: (1) Revision of the investable screening rule to "Ranking in the top 90% of the average daily turnover amount in the past year"; (2) Revision of the selection method: for securities within the sample space that meet the investable screening criteria, select the top 50 securities in terms of the average daily total market value in the fields of shipping, shipping, ports, offshore wind power generation, offshore oil and gas exploration and oilfield services, deep-sea fishing, marine bioproducts among the listed companies' securities; (3) Revision of the weighting method: freely circulated market value weighting, with the weight of a single sample in the fields of shipping, shipping, ports, deep-sea fishing, and marine bioproducts not exceeding 10%, and the weight of other single samples not exceeding 3% and the total weight not exceeding 20%. The other parts of the index compilation plan remain unchanged. III. Overview of index funds As of the end of December 2025, the total assets under management of domestic and foreign funds tracking indices managed by China Securities Index Company amounted to 5.2916 trillion yuan, including a total of 2480 domestic fund products with assets under management of 5.1375 trillion yuan, and a total of 90 foreign fund products with assets under management of 154.2 billion yuan. Among them, the total assets under management of domestic and foreign fund products tracking the Shanghai series indices amounted to 581.6 billion yuan, including 255 domestic fund products with assets under management of 575.9 billion yuan, and 21 foreign fund products with assets under management of 5.8 billion yuan. Table 8: Top ten index tracking products in China Data source: Hang Seng's Gathersource, only statistics on China Securities Index Company managed indices and tracking products, same with the following Table 9: Top ten index tracking products overseas Data source: Bloomberg Table 10: Top ten tracking ETF products in China Data source: Hang Seng's Gathersource Table 11: Top ten tracking ETF products overseas Data source: Bloomberg In December, a total of 65 new fund products were established domestically, tracking indices managed by China Securities Index Company, with a total fundraising size of 358 billion yuan. Table 12: Summary of new fund products established in December Data source: Hang Seng's Gathersource