A股头条：明年起我国调整部分商品关税；市场监管总局部署明年重点任务，深入整治“内卷式”竞争；公募规模年内第八次创历史新高

Regulatory Developments - The State Administration for Market Regulation has outlined key tasks for 2026, focusing on enhancing antitrust enforcement and addressing "involution" competition [1] - The Ministry of Finance reported that from January to November, state-owned enterprises generated total operating revenue of 7,562.576 billion yuan, a year-on-year increase of 1.0% [1] Market Performance - As of November 2025, the total scale of public funds in China reached 37.02 trillion yuan, marking the eighth historical high this year [3] - The automotive market is expected to see a positive start in January 2026, driven by early implementation of national subsidies and the impact of the upcoming Spring Festival [4] External Market Trends - U.S. stock markets experienced a collective decline, with the Dow Jones falling by 249.04 points (0.51%) and the Nasdaq dropping by 118.75 points (0.50%) [5] - The dollar index rose by 0.01% to 98.028 points, while the offshore yuan traded at 6.9971 against the dollar, up 74 points from the previous Friday [7] Investment Opportunities - The Ministry of Finance and the State Taxation Administration announced tax deductions for advertising and business promotion expenses for certain manufacturing sectors, including cosmetics and pharmaceuticals, capped at 30% of annual sales [9] - The National Energy Administration is promoting the construction of high-quality charging infrastructure for electric vehicles, aiming to enhance service capabilities significantly [10][11]