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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qifu Technology, Inc.</name>
        <lei>836800R59NKEPDR6I240</lei>
        <title>Qifu Technology, Inc., ADR</title>
        <cusip>88557W101</cusip>
        <identifiers>
          <isin value="US88557W1018"/>
        </identifiers>
        <balance>106652.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4375931.56000000</valUSD>
        <pctVal>3.083654629837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GDS Holdings Ltd.</name>
        <lei>391200MGV8DDCHTN2R77</lei>
        <title>GDS Holdings Ltd., ADR</title>
        <cusip>36165L108</cusip>
        <identifiers>
          <isin value="US36165L1089"/>
        </identifiers>
        <balance>90609.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2284252.89000000</valUSD>
        <pctVal>1.609679425600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RLX Technology Inc.</name>
        <lei>984500EG5DBB2F7F4002</lei>
        <title>RLX Technology Inc., ADR</title>
        <cusip>74969N103</cusip>
        <identifiers>
          <isin value="US74969N1037"/>
        </identifiers>
        <balance>586875.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1091587.50000000</valUSD>
        <pctVal>0.769225661346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hesai Group</name>
        <lei>836800KOYHURQT1JZY11</lei>
        <title>Hesai Group, ADR</title>
        <cusip>428050108</cusip>
        <identifiers>
          <isin value="US4280501085"/>
        </identifiers>
        <balance>8380.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>157627.80000000</valUSD>
        <pctVal>0.111077993016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="150987.20000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BGM Group Ltd.</name>
        <lei>N/A</lei>
        <title>BGM Group Ltd.</title>
        <cusip>G7307E123</cusip>
        <identifiers>
          <isin value="KYG7307E1237"/>
        </identifiers>
        <balance>64365.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>715738.80000000</valUSD>
        <pctVal>0.504370608660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3405.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cango Inc.</name>
        <lei>5299003TQHBB4QUSZB86</lei>
        <title>Cango Inc., ADR</title>
        <cusip>137586103</cusip>
        <identifiers>
          <isin value="US1375861036"/>
        </identifiers>
        <balance>90373.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>366010.65000000</valUSD>
        <pctVal>0.257922323502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="49776.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agora, Inc.</name>
        <lei>5493001S8SBPD13GC964</lei>
        <title>Agora, Inc., ADR</title>
        <cusip>00851L103</cusip>
        <identifiers>
          <isin value="US00851L1035"/>
        </identifiers>
        <balance>58243.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>191037.04000000</valUSD>
        <pctVal>0.134620993219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dada Nexus Ltd.</name>
        <lei>655600D3KK4AC093RT71</lei>
        <title>Dada Nexus Ltd., ADR</title>
        <cusip>23344D108</cusip>
        <identifiers>
          <isin value="US23344D1081"/>
        </identifiers>
        <balance>97007.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185283.37000000</valUSD>
        <pctVal>0.130566466567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Music Entertainment Group</name>
        <lei>213800XTZK2GOHQTYK41</lei>
        <title>Tencent Music Entertainment Group, ADR</title>
        <cusip>88034P109</cusip>
        <identifiers>
          <isin value="US88034P1093"/>
        </identifiers>
        <balance>467177.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6269515.34000000</valUSD>
        <pctVal>4.418035277734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gaotu Techedu Inc.</name>
        <lei>549300R5BPFFORR9ET36</lei>
        <title>Gaotu Techedu Inc., ADR</title>
        <cusip>36257Y109</cusip>
        <identifiers>
          <isin value="US36257Y1091"/>
        </identifiers>
        <balance>126081.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>392111.91000000</valUSD>
        <pctVal>0.276315497650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jayud Global Logistics Ltd.</name>
        <lei>N/A</lei>
        <title>Jayud Global Logistics Ltd.</title>
        <cusip>G5084H103</cusip>
        <identifiers>
          <isin value="KYG5084H1039"/>
        </identifiers>
        <balance>69498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14997.67000000</valUSD>
        <pctVal>0.010568637534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sohu.com Ltd.</name>
        <lei>N/A</lei>
        <title>Sohu.com Ltd., ADR</title>
        <cusip>83410S108</cusip>
        <identifiers>
          <isin value="US83410S1087"/>
        </identifiers>
        <balance>25657.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>281970.43000000</valUSD>
        <pctVal>0.198700416134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECARX Holdings Inc.</name>
        <lei>N/A</lei>
        <title>ECARX Holdings Inc.</title>
        <cusip>G29201103</cusip>
        <identifiers>
          <isin value="KYG292011031"/>
        </identifiers>
        <balance>270596.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>351774.80000000</valUSD>
        <pctVal>0.247890529320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="283800.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>JD.com, Inc.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com, Inc., ADR</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
        </identifiers>
        <balance>302574.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9869963.88000000</valUSD>
        <pctVal>6.955218425512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baozun Inc.</name>
        <lei>549300IF0HZ7T4762633</lei>
        <title>Baozun Inc., ADR</title>
        <cusip>06684L103</cusip>
        <identifiers>
          <isin value="US06684L1035"/>
        </identifiers>
        <balance>38288.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99931.68000000</valUSD>
        <pctVal>0.070420385573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiayin Group Inc.</name>
        <lei>N/A</lei>
        <title>Jiayin Group Inc., ADR</title>
        <cusip>47737C104</cusip>
        <identifiers>
          <isin value="US47737C1045"/>
        </identifiers>
        <balance>12131.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133926.24000000</valUSD>
        <pctVal>0.094375852174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1146.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Daqo New Energy Corp.</name>
        <lei>529900711JBZ5O7VA827</lei>
        <title>Daqo New Energy Corp., ADR</title>
        <cusip>23703Q203</cusip>
        <identifiers>
          <isin value="US23703Q2030"/>
        </identifiers>
        <balance>61675.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>785739.50000000</valUSD>
        <pctVal>0.553699072711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bilibili Inc.</name>
        <lei>5493008V60M52L3PIS45</lei>
        <title>Bilibili Inc., ADR</title>
        <cusip>090040106</cusip>
        <identifiers>
          <isin value="US0900401060"/>
        </identifiers>
        <balance>98120.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1717100.00000000</valUSD>
        <pctVal>1.210015123018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="400140.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Noah Holdings Ltd.</name>
        <lei>3003008QW3IHPD3NTU41</lei>
        <title>Noah Holdings Ltd., ADR</title>
        <cusip>65487X102</cusip>
        <identifiers>
          <isin value="US65487X1028"/>
        </identifiers>
        <balance>30840.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>283419.60000000</valUSD>
        <pctVal>0.199721624925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DouYu International Holdings Ltd.</name>
        <lei>549300M2ADOHTIMACT54</lei>
        <title>DouYu International Holdings Ltd., ADR</title>
        <cusip>25985W204</cusip>
        <identifiers>
          <isin value="US25985W2044"/>
        </identifiers>
        <balance>11195.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83402.75000000</valUSD>
        <pctVal>0.058772691632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yatsen Holding Ltd.</name>
        <lei>N/A</lei>
        <title>Yatsen Holding Ltd., ADR</title>
        <cusip>985194208</cusip>
        <identifiers>
          <isin value="US9851942089"/>
        </identifiers>
        <balance>59729.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255640.12000000</valUSD>
        <pctVal>0.180145833818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZJK Industrial Co., Ltd.</name>
        <lei>N/A</lei>
        <title>ZJK Industrial Co., Ltd.</title>
        <cusip>G98Y9E102</cusip>
        <identifiers>
          <isin value="KYG98Y9E1025"/>
        </identifiers>
        <balance>50758.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>212676.02000000</valUSD>
        <pctVal>0.149869664261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="207827.85000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Lufax Holding Ltd.</name>
        <lei>254900TYH7RTK8E9NH16</lei>
        <title>Lufax Holding Ltd., ADR</title>
        <cusip>54975P201</cusip>
        <identifiers>
          <isin value="US54975P2011"/>
        </identifiers>
        <balance>212600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>616540.00000000</valUSD>
        <pctVal>0.434466672847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KE Holdings Inc.</name>
        <lei>254900RHVY072XPAZE03</lei>
        <title>KE Holdings Inc., ADR</title>
        <cusip>482497104</cusip>
        <identifiers>
          <isin value="US4824971042"/>
        </identifiers>
        <balance>523289.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10622766.70000000</valUSD>
        <pctVal>7.485707504104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Full Truck Alliance Co. Ltd.</name>
        <lei>984500884LB1DP8DAC57</lei>
        <title>Full Truck Alliance Co. Ltd., ADR</title>
        <cusip>35969L108</cusip>
        <identifiers>
          <isin value="US35969L1089"/>
        </identifiers>
        <balance>539842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6132605.12000000</valUSD>
        <pctVal>4.321556658727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FinVolution Group</name>
        <lei>3003000RAVUT809U6P08</lei>
        <title>FinVolution Group, ADR</title>
        <cusip>31810T101</cusip>
        <identifiers>
          <isin value="US31810T1016"/>
        </identifiers>
        <balance>161299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1275875.09000000</valUSD>
        <pctVal>0.899090416389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qudian Inc.</name>
        <lei>549300MY8WXPOW8RKH11</lei>
        <title>Qudian Inc., ADR</title>
        <cusip>747798106</cusip>
        <identifiers>
          <isin value="US7477981069"/>
        </identifiers>
        <balance>166443.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>452724.96000000</valUSD>
        <pctVal>0.319028622775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VNET Group, Inc.</name>
        <lei>529900672GYJQ3T38I58</lei>
        <title>VNET Group, Inc., ADR</title>
        <cusip>90138A103</cusip>
        <identifiers>
          <isin value="US90138A1034"/>
        </identifiers>
        <balance>119378.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>750887.62000000</valUSD>
        <pctVal>0.529139465312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SunCar Technology Group Inc.</name>
        <lei>N/A</lei>
        <title>SunCar Technology Group Inc., Class A</title>
        <cusip>G85727108</cusip>
        <identifiers>
          <isin value="KYG857271087"/>
        </identifiers>
        <balance>48822.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133772.28000000</valUSD>
        <pctVal>0.094267358826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="103088.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAL Education Group</name>
        <lei>5493003PJZS0EC085V72</lei>
        <title>TAL Education Group, ADR</title>
        <cusip>874080104</cusip>
        <identifiers>
          <isin value="US8740801043"/>
        </identifiers>
        <balance>341391.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2987171.25000000</valUSD>
        <pctVal>2.105015658695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="108960.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mercurity Fintech Holding Inc.</name>
        <lei>N/A</lei>
        <title>Mercurity Fintech Holding Inc.</title>
        <cusip>G59467202</cusip>
        <identifiers>
          <isin value="KYG594672027"/>
        </identifiers>
        <balance>50513.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>363188.47000000</valUSD>
        <pctVal>0.255933574751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="65894.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DingDong (Cayman) Ltd.</name>
        <lei>549300S41MY2F7SBDG73</lei>
        <title>DingDong (Cayman) Ltd., ADR</title>
        <cusip>25445D101</cusip>
        <identifiers>
          <isin value="US25445D1019"/>
        </identifiers>
        <balance>116749.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>290705.01000000</valUSD>
        <pctVal>0.204855546233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NetEase, Inc.</name>
        <lei>5299004AF4DSJDB0PA32</lei>
        <title>NetEase, Inc., ADR</title>
        <cusip>64110W102</cusip>
        <identifiers>
          <isin value="US64110W1027"/>
        </identifiers>
        <balance>63555.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6804198.30000000</valUSD>
        <pctVal>4.794818498059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATRenew Inc.</name>
        <lei>N/A</lei>
        <title>ATRenew Inc., ADR</title>
        <cusip>00138L108</cusip>
        <identifiers>
          <isin value="US00138L1089"/>
        </identifiers>
        <balance>108565.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>268155.55000000</valUSD>
        <pctVal>0.188965273322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XPeng Inc.</name>
        <lei>549300TZNMIREMWQU857</lei>
        <title>XPeng Inc., ADR</title>
        <cusip>98422D105</cusip>
        <identifiers>
          <isin value="US98422D1054"/>
        </identifiers>
        <balance>210452.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3914407.20000000</valUSD>
        <pctVal>2.758425199262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3889838.49000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Private Prime Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Prime Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2487474"/>
        </identifiers>
        <balance>9893211.24660000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9893211.24660000</valUSD>
        <pctVal>6.971600502943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="9893211.24660000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dogness (International) Corp.</name>
        <lei>N/A</lei>
        <title>Dogness (International) Corp., Class A</title>
        <cusip>G2788T111</cusip>
        <identifiers>
          <isin value="VGG2788T1113"/>
        </identifiers>
        <balance>3030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48389.10000000</valUSD>
        <pctVal>0.034099087292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="36696.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MINISO Group Holding Ltd.</name>
        <lei>2549006PIKT2YKNBL092</lei>
        <title>MINISO Group Holding Ltd., ADR</title>
        <cusip>66981J102</cusip>
        <identifiers>
          <isin value="US66981J1025"/>
        </identifiers>
        <balance>27918.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>503361.54000000</valUSD>
        <pctVal>0.354711476178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="75680.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUYA Inc.</name>
        <lei>549300WPEZ00T1MABE80</lei>
        <title>HUYA Inc., ADR</title>
        <cusip>44852D108</cusip>
        <identifiers>
          <isin value="US44852D1081"/>
        </identifiers>
        <balance>78736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>296047.36000000</valUSD>
        <pctVal>0.208620221728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd., ADR</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
        </identifiers>
        <balance>95674.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11426345.82000000</valUSD>
        <pctVal>8.051977894729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="669056.64000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vipshop Holdings Ltd.</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>Vipshop Holdings Ltd., ADR</title>
        <cusip>92763W103</cusip>
        <identifiers>
          <isin value="US92763W1036"/>
        </identifiers>
        <balance>341281.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4648247.22000000</valUSD>
        <pctVal>3.275551471509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weibo Corp.</name>
        <lei>549300Q9ID4640FE0422</lei>
        <title>Weibo Corp., ADR</title>
        <cusip>948596101</cusip>
        <identifiers>
          <isin value="US9485961018"/>
        </identifiers>
        <balance>84495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>684409.50000000</valUSD>
        <pctVal>0.482293311593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H World Group Ltd.</name>
        <lei>549300Y5ML31FVN83730</lei>
        <title>H World Group Ltd., ADR</title>
        <cusip>44332N106</cusip>
        <identifiers>
          <isin value="US44332N1063"/>
        </identifiers>
        <balance>129039.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4418295.36000000</valUSD>
        <pctVal>3.113507776811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jin Medical International Ltd.</name>
        <lei>N/A</lei>
        <title>Jin Medical International Ltd.</title>
        <cusip>G5140V112</cusip>
        <identifiers>
          <isin value="KYG5140V1124"/>
        </identifiers>
        <balance>129570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117908.70000000</valUSD>
        <pctVal>0.083088527246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="114702.62000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Oriental Education &amp; Technology Group Inc.</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>New Oriental Education &amp; Technology Group Inc., ADR</title>
        <cusip>647581206</cusip>
        <identifiers>
          <isin value="US6475812060"/>
        </identifiers>
        <balance>85895.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4195970.75000000</valUSD>
        <pctVal>2.956838893042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="48880.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tuya Inc.</name>
        <lei>254900XKWS2MIZHXCO08</lei>
        <title>Tuya Inc., ADR</title>
        <cusip>90114C107</cusip>
        <identifiers>
          <isin value="US90114C1071"/>
        </identifiers>
        <balance>115939.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>272456.65000000</valUSD>
        <pctVal>0.191996195251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>Baidu, Inc., ADR</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
        </identifiers>
        <balance>115537.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10146459.34000000</valUSD>
        <pctVal>7.150060710787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Autohome Inc.</name>
        <lei>529900NYB6ZGZN3MVT56</lei>
        <title>Autohome Inc., ADR</title>
        <cusip>05278C107</cusip>
        <identifiers>
          <isin value="US05278C1071"/>
        </identifiers>
        <balance>56305.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1536000.40000000</valUSD>
        <pctVal>1.082396897654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EHang Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>EHang Holdings Ltd., ADR</title>
        <cusip>26853E102</cusip>
        <identifiers>
          <isin value="US26853E1029"/>
        </identifiers>
        <balance>41420.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>693785.00000000</valUSD>
        <pctVal>0.488900088593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="420023.38000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZEEKR Intelligent Technology Holding Ltd.</name>
        <lei>N/A</lei>
        <title>ZEEKR Intelligent Technology Holding Ltd., ADR</title>
        <cusip>98923K103</cusip>
        <identifiers>
          <isin value="US98923K1034"/>
        </identifiers>
        <balance>34349.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>738503.50000000</valUSD>
        <pctVal>0.520412558035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="39168.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Solar Inc.</name>
        <lei>5493001XSC6TKMBVOM15</lei>
        <title>Canadian Solar Inc.</title>
        <cusip>136635109</cusip>
        <identifiers>
          <isin value="CA1366351098"/>
        </identifiers>
        <balance>55022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>496298.44000000</valUSD>
        <pctVal>0.349734213459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="525645.15000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kingsoft Cloud Holdings Ltd.</name>
        <lei>875500HZE0VKCD0Z8K15</lei>
        <title>Kingsoft Cloud Holdings Ltd., ADR</title>
        <cusip>49639K101</cusip>
        <identifiers>
          <isin value="US49639K1016"/>
        </identifiers>
        <balance>32230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>438005.70000000</valUSD>
        <pctVal>0.308656176674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="396284.94000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
        <lei>5493007T1J7WZ5QI1A47</lei>
        <title>Invesco Government &amp; Agency Portfolio, Institutional Class</title>
        <cusip>825252885</cusip>
        <identifiers>
          <isin value="US8252528851"/>
        </identifiers>
        <balance>106161.80000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>106161.80000000</valUSD>
        <pctVal>0.074810659534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UP Fintech Holding Ltd.</name>
        <lei>213800JJDNMAG3L84P54</lei>
        <title>UP Fintech Holding Ltd., ADR</title>
        <cusip>91531W106</cusip>
        <identifiers>
          <isin value="US91531W1062"/>
        </identifiers>
        <balance>113120.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>933240.00000000</valUSD>
        <pctVal>0.657640506322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZTO Express (Cayman) Inc.</name>
        <lei>549300SCJPK3YZJTJR78</lei>
        <title>ZTO Express (Cayman) Inc., ADR</title>
        <cusip>98980A105</cusip>
        <identifiers>
          <isin value="US98980A1051"/>
        </identifiers>
        <balance>211693.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3916320.50000000</valUSD>
        <pctVal>2.759773473640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Niu Technologies</name>
        <lei>549300NJKNSC80EVQ065</lei>
        <title>Niu Technologies, ADR</title>
        <cusip>65481N100</cusip>
        <identifiers>
          <isin value="US65481N1000"/>
        </identifiers>
        <balance>42023.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>141197.28000000</valUSD>
        <pctVal>0.099499647154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zai Lab Ltd.</name>
        <lei>549300P2UYQ9U5LY1T58</lei>
        <title>Zai Lab Ltd., ADR</title>
        <cusip>98887Q104</cusip>
        <identifiers>
          <isin value="US98887Q1040"/>
        </identifiers>
        <balance>52126.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1651872.94000000</valUSD>
        <pctVal>1.164050572887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iQIYI, Inc.</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>iQIYI, Inc., ADR</title>
        <cusip>46267X108</cusip>
        <identifiers>
          <isin value="US46267X1081"/>
        </identifiers>
        <balance>437255.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>804549.20000000</valUSD>
        <pctVal>0.566953991737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="64673.88000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Private Government Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Government Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2442116"/>
        </identifiers>
        <balance>3756612.22000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3756612.22000000</valUSD>
        <pctVal>2.647229396957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3756612.22000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LexinFintech Holdings Ltd.</name>
        <lei>549300F9QU71NQ28CS19</lei>
        <title>LexinFintech Holdings Ltd., ADR</title>
        <cusip>528877103</cusip>
        <identifiers>
          <isin value="US5288771034"/>
        </identifiers>
        <balance>119373.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>937078.05000000</valUSD>
        <pctVal>0.660345123725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhihu Inc.</name>
        <lei>N/A</lei>
        <title>Zhihu Inc., ADR</title>
        <cusip>98955N207</cusip>
        <identifiers>
          <isin value="US98955N2071"/>
        </identifiers>
        <balance>34924.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>134806.64000000</valUSD>
        <pctVal>0.094996257109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Youdao, Inc.</name>
        <lei>N/A</lei>
        <title>Youdao, Inc., ADR</title>
        <cusip>98741T104</cusip>
        <identifiers>
          <isin value="US98741T1043"/>
        </identifiers>
        <balance>31108.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>276550.12000000</valUSD>
        <pctVal>0.194880803373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="208460.70000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JinkoSolar Holding Co., Ltd.</name>
        <lei>529900Y93WNCS05FG852</lei>
        <title>JinkoSolar Holding Co., Ltd., ADR</title>
        <cusip>47759T100</cusip>
        <identifiers>
          <isin value="US47759T1007"/>
        </identifiers>
        <balance>32402.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>556018.32000000</valUSD>
        <pctVal>0.391817934817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="539425.39000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xunlei Ltd.</name>
        <lei>529900PYSOIKBMQIQY91</lei>
        <title>Xunlei Ltd., ADR</title>
        <cusip>98419E108</cusip>
        <identifiers>
          <isin value="US98419E1082"/>
        </identifiers>
        <balance>43652.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>184211.44000000</valUSD>
        <pctVal>0.129811093257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hello Group Inc.</name>
        <lei>549300YMGLID32W48529</lei>
        <title>Hello Group Inc., ADR</title>
        <cusip>423403104</cusip>
        <identifiers>
          <isin value="US4234031049"/>
        </identifiers>
        <balance>144665.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>826037.15000000</valUSD>
        <pctVal>0.582096234159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Li Auto Inc.</name>
        <lei>2549003R73Q70J5H4I65</lei>
        <title>Li Auto Inc., ADR</title>
        <cusip>50202M102</cusip>
        <identifiers>
          <isin value="US50202M1027"/>
        </identifiers>
        <balance>171344.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4179080.16000000</valUSD>
        <pctVal>2.944936342616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="239283.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yiren Digital Ltd.</name>
        <lei>549300GUWSM4NWQXJO64</lei>
        <title>Yiren Digital Ltd., ADR</title>
        <cusip>98585L100</cusip>
        <identifiers>
          <isin value="US98585L1008"/>
        </identifiers>
        <balance>15055.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98459.70000000</valUSD>
        <pctVal>0.069383102910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
