US-based investors are dumping Chinese equities: US-listed China ETFs recorded -$3.4 billion in combined outflows across May, June, and July. This includes the China Large-Cap ETF, $FXI, the MSCI China ETF, $MCHI, the CSI 300 China ETF, $ASHR, the China Internet ETF, $KWEB, the China Technology ETF, $CQQQ, and the China Technology and Semiconductor ETF, $KSTR. As a result, the 12-month cumulative outflow fell to -$1.0 billion through July, the largest withdrawal in at least a year. Year-to-date, the China Large-Cap ETF, $FXI, has seen the largest outflow at -$1.6 billion. This is followed by the MSCI China ETF, $MCHI, at -$868 million, and the China Internet ETF, $KWEB, at -$833 million. Investor demand for Chinese equities is weak.