外资行加码中国—东盟战略，从服务制造业到助力新消费出海

Core Viewpoint - ASEAN has evolved from a manufacturing hub to a competitive development ground across various industries, driven by geopolitical uncertainties and the restructuring of global supply chains [1][5]. Group 1: Economic Cooperation and Trade - The China-ASEAN Free Trade Area 3.0 negotiations have been completed, marking a significant step towards signing an upgraded protocol, which will accelerate trade cooperation between China and ASEAN [1][3]. - ASEAN's total GDP has surpassed $4 trillion, and the region is expected to become a new frontier for global growth, with China and ASEAN having a combined population of over 2 billion [2][4]. - The 3.0 version of the Free Trade Area includes key areas such as digital economy, green economy, and supply chain resilience, promoting cooperation in artificial intelligence, e-commerce, and smart manufacturing [3][4]. Group 2: Investment Trends - Chinese direct investment in ASEAN is projected to grow by 12% in 2024, with ASEAN being a primary destination for Chinese investments, reflecting a long-term strategic shift towards establishing complete industrial and value chains overseas [4][6]. - The region is characterized by political stability, a young population, and diverse industrial policies, making it an attractive market for Chinese enterprises [4][6]. Group 3: Market Expansion and New Consumption - The focus of investment has shifted from manufacturing to a more diverse range of sectors, including digital enterprises, services, and finance, as companies recognize the potential of ASEAN as an independent consumer market [5][6]. - Notable companies like Nayuki Tea and Pop Mart are expanding aggressively in Southeast Asia, with significant growth in store openings, indicating a robust market opportunity [6][7]. Group 4: Currency and Financial Trends - The internationalization of the Renminbi (RMB) is accelerating, with RMB accounting for over 50% of China's import and export settlements in 2023, reflecting a growing trend despite currency fluctuations [8][9]. - The RMB's role in global trade settlements is expected to increase, particularly as it becomes a low-cost financing currency for Chinese enterprises and countries closely tied to China [8][9].