Public data shows that by the end of the third quarter, QFIIs had appeared among the top ten circulating shareholders of more than 1,500 companies, with total holdings exceeding 270 billion yuan—a pattern marked by a concentration in leading names and a dual-track advance of financial base positions and industrial upgrading. Bank of Ningbo, Shengyi Technology, Bank of Nanjing, and Changxin Technology each drew QFII holdings exceeding 10 billion yuan, suggesting that while foreign capital maintains defensive allocations in bank stocks, it is also channeling incremental funds into hard-tech leaders such as semiconductors and electronics. In recent years, QFII allocation to Chinese assets has expanded overall, with the number of institutions surpassing 1,000, and multiple foreign institutions maintaining a positive view on the medium- to long-term trajectory of A-shares.
