North China Market Sees Accelerated Institutionalization as Institutional Trading Share Rises to 24%

In October 2026, the first batch of North Exchange 3-month holding period thematic funds launched simultaneously, injecting incremental capital into the market. Data shows that the capital structure of the North China market is evolving; since its inception, the proportion of institutional trading has steadily climbed from an initial 9% to 24%, with over 3,000 public mutual funds participating in transactions. Multiple experts note that the institutionalization of investors in the North China market represents not merely a rise in the percentage of institutional holdings, but a systemic reshaping of capital structure, valuation logic, and pricing power. The interplay between the pace of institutional capital entry, the impact of unlocking and reduction sales, and the capacity of long-term funds to absorb positions will determine the underlying characteristics of the market's next phase.