The China ChiNext Top 50 Index ETF saw a net inflow of around ¥14 billion on Monday, setting a new record.

BlockBeats News, July 23rd, according to Bloomberg data, Chinese investors actively bought the dip on Monday, with the Star 50 ETF, which tracks the CSI 50 Index, seeing a record $2 billion inflow on Monday, the highest single-day level since December 2020.

The inflow of funds propelled the Star 50 Index to surge 11% on Tuesday, marking the largest daily gain in nearly two years, following a steep 17% decline the previous week due to leveraged liquidation.

Meanwhile, at least five of the largest insurance companies in China have committed to increasing their stock market investments, with China Life alone purchasing over $1.5 billion worth of stocks and funds.