The full name of ETF fund in Chinese is "traded open index fund". This is a special type of index fund that combines the operational characteristics of closed-end funds and open-end funds. Investors can either subscribe or redeem funds from the fund management company.

After returning the fund shares, you can buy and sell ETF shares in the secondary market at market prices like closed-end funds.

For ordinary investors with small funds, buying ETFs is more likely to be done in the secondary market, that is, the on-site market.