Aerial view of city skyline and commercial buildings in Shanghai / gettyimagesbank

Returns on China-related exchange-traded funds (ETFs) listed in Korea are soaring, as the Chinese stock market has been surging since the Chinese government announced a large-scale economic stimulus package at the end of last month.

All of the top 10 ETFs in Korea based on returns over the past month were China-related products, with the monthly return of one leveraged ETF surpassing 130 percent.

An ETF is a basket of securities that tracks a specific index, while a leveraged ETF tracks twice the daily increase of an index.

The Chinese stock market, which was closed for the week-long National Day holiday, reopened on Tuesday.

According to data from Koscom, Korea's IT solutions provider for the financial investment sector, all of the top 10 ETFs with the highest returns, including leveraged ETFs, from Sept. 5 to Oct. 4, were products related to the Greater China region.

Mirae Asset Global Investments' leveraged ETF recorded a monthly return of 130 percent. This product tracks twice the daily volatility of Hong Kong's Hang Seng Tech Index that includes companies like Alibaba and Tencent.

Even when excluding leveraged ETFs, the rankings for returns show that the top 10 were all China-related ETFs, yielding returns in the range of 50 percent to 80 percent.

The returns on Chinese funds have also appeared to be high compared to other countries.

According to financial market tracker FnGuide, the one-month return on 186 funds investing in the Greater China region was 30.7 percent as of Monday, the highest among regional funds. This is six to seven times higher compared to North American funds at 5 percent and Japanese funds at 4.2 percent.

The significant rise in the returns of Chinese investment products has been influenced by the Chinese government's announcement of the large-scale economic stimulus measures.

From the announcement on Sept. 24 until just before the start of the National Day holiday on Sept. 30, the Shanghai Composite Index surged by 16.5 percent.

The CSI 300, which includes 300 high-quality companies from the Shanghai and Shenzhen stock markets, rose by approximately 25.8 percent, while the Hong Kong Hang Seng Index increased by around 33.7 percent over the past month.

Domestic and international experts expect the Chinese stock market to continue its upward trend for the time being.

However, some believe that whether the long-term bullish phase of the stock market continues will depend on the upcoming announcements regarding China's fiscal policy and the housing market situation in October and November.

"From a fundamental perspective, China's monetary policy acts as a shield, while fiscal policy serves as a spear," Hana Securities analyst Kim Kyung-hwan said.

"The changes and intensity of fiscal policy will be significantly influenced by the decisions made during the Standing Committee of the National People's Congress, which will convene later this month."