Pro-cyclical ETFs attract large amounts of money, fund managers layout "anti-involved" main line in three dimensions.

According to Securities Times, recently, the "anti-inner curling" policy has been blowing strongly, driving A-share market related themes to continue to strengthen, with sectors such as steel, cement, photovoltaics, and new energy vehicles all performing well. Wind data shows that as of July 25th, the steel ETF has risen by over 18% in the past month, while the photovoltaic ETF and coal ETF have also risen by over 10%. This reflects the market's positive expectations for policy guidance to optimize industry competition and improve supply and demand relationships. Several fund managers believe that the current "anti-inner curling" theme investment is experiencing a key turning point - shifting from the early stage of policy expectations to the stage of fundamental verification. Whether the policy can be effectively implemented and how the supply and demand will be substantially improved will become the core factors determining the depth and breadth of the market.