截至12月22日，今年以来已有1469只新基金成立（仅统计初始份额），发行数量创2022年以来的新高， 合计发行份额达11358.88亿份。 其中，今年以来新成立股票型基金808只，发行份额4086.66亿份；混合型基金280只，发行份额1551.03 亿份；债券型基金262只，发行份额4680.71亿份。此外，还有19只QDII、19只REITs和81只FOF基金成 立，发行份额分别为124.80亿份、105.00亿份和810.68亿份。 数据显示，截至12月23日，A股年度成交额首次突破400万亿元，创下年度成交额新纪录。今年以来股 票型基金新发规模也突破4000亿份，为历史首次。 A股年内成交额较去年增近六成，有色、通信板块成交额实现翻倍。今年以来，A股市场交投活跃度显 著提升。截至12月23日，全年累计成交额达407.82万亿元，较去年全年增长近58.4%，创下年度历史新 高。 从交易节奏来看，市场活跃度贯穿全年未减，超过98%的交易日成交额维持在1万亿元以上，其中成交 额突破2万亿元的交易日占比近23.6%。行业板块呈现"强者恒强，新锐勃发"的格局，电子板块延续去年 以来的资金虹吸效应，成交总额排名 ...

今年以来，A股市场交投活跃度显著提升。截至12月23日，全年累计成交额达407.82万亿元，较去年全 年增长近58.4%，创下年度历史新高。从交易节奏来看，市场活跃度贯穿全年未减，超过98%的交易日 成交额维持在1万亿元以上，其中成交额突破2万亿元的交易日占比近23.6%。行业板块呈现"强者恒 强，新锐勃发"的格局，电子板块延续去年以来的资金虹吸效应，成交总额排名依旧保持第一。而在增 长动能上，有色金属与通信板块成为今年市场的突出亮点，成交额较去年均实现翻倍增长，增速领跑全 市场。个股层面，资金向热门标的集中趋势明显，全年成交额突破万亿元的股票目前已达19只，中际旭 创、东方财富、新易盛跻身年度成交榜前三。其中，中际旭创更是脱颖而出，为市场唯一一只日均成交 额超100亿元的个股。与此同时，ETF市场同样表现抢眼，全年成交总额历史首次达81.7万亿元，较去 年全年大幅攀升近116.8%，同步改写年度纪录。细分领域中，股票型ETF成为资金布局的核心载体之 一，年内成交额达24.4万亿元，较去年增长近52.8%，同样为年度历史新纪录。 ...

Group 1 - The core viewpoint of the article highlights that liquidity is driving the continuous increase in the activity level of the A-share market [1] Group 2 - The article discusses the factors contributing to the enhanced liquidity in the A-share market, indicating a positive trend in trading volumes and investor participation [1] - It mentions specific metrics or data points that illustrate the growth in market activity, although exact figures are not provided in the excerpt [1]

Group 1: A-Share Market Activity - The A-share market has seen increased trading activity, with the Shanghai Composite Index surpassing 3600 points, indicating a positive market cycle driven by profit effects [3][4] - Since July, there has been a significant inflow of funds into industry-themed ETFs, with active equity fund issuance showing a notable recovery [3][4] - Institutional positions have been continuously increasing, becoming a crucial support for the market rally [3][7] Group 2: ETF Inflows - Industry-themed ETFs have attracted substantial capital, particularly in three main areas: dividend-themed ETFs, AI sector ETFs, and ETFs related to policies aimed at reducing competition [4][5][6] - Notable inflows include 39.45 billion RMB into the Southern S&P China A-Share Large Cap Dividend Low Volatility ETF and 30.54 billion RMB into the Huatai-PB CSI Dividend Low Volatility ETF since July [4] - The surge in industry-themed ETF sizes often correlates with improved market activity and the formation of consensus on market themes [4][5] Group 3: Active Equity Funds - Active equity funds have experienced a resurgence, with an average annual return exceeding 14% and several products doubling in net value [6][7] - Seven active equity funds launched since July have raised over 1 billion RMB each, with the largest being the Dacheng Insight Advantage Mixed Fund at 2.461 billion RMB [6] - The second batch of floating management fee funds is also being launched, potentially driving further growth in the active equity fund market [6] Group 4: Institutional Investment Sentiment - Institutions have been increasing their positions, with average stock fund positions reaching approximately 90.55% as of August 8, reflecting a bullish outlook [7][8] - Major public funds, such as Southern Fund, have committed over 230 million RMB to their own equity funds, indicating confidence in the long-term stability of the capital market [8] - Analysts believe that the A-share market is currently in a favorable position for long-term investment, with expectations of continued inflows of capital [8][9] Group 5: Hong Kong Market Dynamics - There is a significant shift in global asset allocation, with a notable influx of capital into the Hong Kong market, which has become a favored destination for global investors [10][11] - As of August 11, net inflows from southbound funds into Hong Kong exceeded 800 billion RMB, surpassing the total for the entire year of 2024 [11] - The Hong Kong market is seen as a bridge for investing in China, with many private equity firms increasing their allocations to Hong Kong stocks while reducing exposure to U.S. equities [10][13] Group 6: Investment Opportunities in Hong Kong - The technology sector remains a key focus for institutional investors, with major stocks like Tencent and Alibaba seeing high trading volumes [17][18] - High-dividend stocks and new consumption sectors are also attracting attention, with significant net purchases in financials and consumer discretionary sectors [18] - The emergence of new core assets in China, driven by economic transformation, is expected to attract more global capital into the Hong Kong market [18]