Graphic showing 100 ETF investors surveyed, with participants drawn from the following investor classifications: institutional investors, RIAs/financial advisors, fund management firms, private banks, and wealth management firms.
For nearly a decade, our Greater China ETF Investor Survey has tracked has tracked the rising maturity of one of the world's most dynamic ETF regions. As an ETF servicing provider working alongside issuers across mainland China, Hong Kong, and Taiwan, we see firsthand how investor expectations, product innovation, and regulatory change are reshaping the regional ecosystem.
Global trade tensions, the AI investment boom, and China's economic transition are driving increasingly divergent prospects across the three markets, yet demand for ETFs continues to climb in all of them. In this follow up to our Global ETF Investor Survey, we wanted to look beyond headline asset growth and ask:
- Where is ETF innovation gaining real traction in Greater China?
- How are active ETFs, ETF Connect, and ETF share classes reshaping investor preferences?
- Where do gaps in education, platform access, and product scale still hold the market back?
Numbers to know
The ETF outlook in Greater China: Three markets, three trajectories
The ETF markets of mainland China, Hong Kong, and Taiwan face increasingly divergent prospects as the AI investment boom, China's economic transition, and shifting investor sentiment drive performance across the region.
- Mainland China held the market held $861.2bn in ETF assets at the end of 2025, and 119 new ETFs launched in the first four months of 2026 alone.
- Taiwan has emerged as one of the clearest beneficiaries of the global AI capex cycle, with its equity market up more than 50% year-to-date powered by demand for AI chips and semiconductors.
- Hong Kong has lagged most equity markets, weighed down by property-sector concerns and weak domestic demand — yet HKEX has become the fourth most actively traded ETF market globally, with ETF average daily turnover reaching HKD 38.9bn through the first five months of 2026.
95% of Greater China respondents plan to increase their ETF exposure in the next 12 months — 92% in mainland China, 97% in both Hong Kong and Taiwan."
ETF preferences
A clear majority of Greater China investors — 64% — favor an actively managed ETF approach over passive in the next 12 months. While active ETFs remain a small share of the $2.4tn Asia-Pacific ETF market (roughly $120bn), their 54% compound annual growth rate is the highest of any region globally.
Taiwan, which approved active ETF listings in late 2024, has already grown to become the fourth largest active ETF market in Asia, with $17bn in assets across 30 listed products. Multi-asset is the most popular destination for new active ETF allocations across the region (25%), reflecting investor appetite for income paired with equity upside.
Donut chart showing that 64% of Greater China ETF investors prefer active management over passive strategies in the next 12 months. The percentage is highlighted within a yellow circular chart segment.
ETF innovation on the horizon: share classes, ETF Connect, and tokenization
ETF share classes — 77% of Greater China respondents would invest in an ETF share class of a mutual fund. Hong Kong was one of the first markets globally to launch comingled share-class structures, and pent-up demand suggests room for wider regional adoption as regulations evolve.
ETF Connect — Southbound average daily turnover reached HK$7.1bn and Northbound RMB 4.8bn in Q1 2026, up 60% and 50% year-on-year respectively. Mainland investors poured over US$3bn into 23 Hong Kong-listed ETFs in Q1 alone, with defined outcome, fixed income, and ESG ranked as their top areas of future interest.
Tokenization & crypto — Hong Kong leads the region as the first market to offer spot crypto ETFs and tokenized money market products. Yet only 18% of investors believe tokenization will fundamentally revolutionize markets, while 52% see it driving meaningful but incremental improvement.
Download the 2026 Greater China ETF Investor Survey
Get the complete data set across mainland China, Hong Kong, and Taiwan, including regional breakdowns on active ETFs, ETF Connect, share classes, tokenization, and issuer expectations.
What Greater China ETF investors expect from issuers
When evaluating ETFs, Greater China ETF investors prioritize brand reputation (16%) and strategy or sector focus (15%), followed by tax efficiency, liquidity, and tracking accuracy — a notable shift from 2025, when expense ratio ranked higher.
Expectations now extend well beyond product quality. Demand for value-added services varies by market:
- Mainland China: innovative or niche strategies, followed by insightful market research
- Hong Kong: competitive pricing
- Taiwan: client service and ETF support (execution, portfolio consulting)
About BBH ETF Services
For over 20 years, BBH has been a leading global provider of ETF services for established global asset managers and new entrants in the US, Europe, and Asia, supporting clients with accounting, administration, custody, and transfer agency — plus deep regional expertise to inform ETF strategy.
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