Group 1: Market Overview - The Central Economic Work Conference has prioritized "domestic demand as the main driver" as the top task for next year, emphasizing actions to boost consumption, increase income for urban and rural residents, and upgrade "two new" policies [1] - On December 15, A-shares experienced a "V"-shaped trading pattern, with the Shanghai Composite Index closing down 0.55% at 3867.92 points, the Shenzhen Component Index down 1.1% at 13112.09 points, and the ChiNext Index down 1.77% at 3137.8 points, with total market turnover of 1.79 trillion yuan, a decrease of 324.6 billion yuan from the previous trading day [1] Group 2: Fund News - On December 15, 17 new funds were launched, primarily equity and mixed funds, with the GF National Industrial Software Theme ETF aiming to raise 8 billion yuan; 35 funds distributed dividends, with the highest being 2.3473 yuan per 10 shares for the Huashang Advantage Industry Flexible Allocation Mixed Fund [2] - As of December 15, 138 public fund institutions have made 8546 self-purchases this year, with a net subscription amount of 255.09 billion yuan, a 1733.71% increase compared to the same period in 2024, involving 1561 funds [2] - On December 11, Morgan Stanley announced a suspension of large subscriptions for two QDII products, reducing the subscription limit to 100 yuan or 10 USD; within half a month, 25 QDII products tightened subscription thresholds, indicating a trend of high premiums and tight quotas as the year-end approaches [2][3] Group 3: ETF Market - As of December 15, the total share of domestic ETFs reached 33 trillion shares, with a total scale of 5.78 trillion yuan, reflecting a net increase of over 2 trillion yuan since the beginning of the year, marking a historic growth rate [3] - The surge in ETF scale is attributed to product innovation and changes in investor structure, with significant demand from long-term funds such as insurance and pensions being the primary driver; ETFs are becoming the preferred tool for institutions to allocate to the equity market [3]