中国对英投资的“绿色新现实”：在气候与金融的双轨驱动下寻求合作确定性

Core Insights - The visit of UK Prime Minister Keir Starmer to China in January 2026 resulted in 11 positive outcomes, marking a new phase in UK-China relations characterized by "re-engagement" and "divergence management" [1] - China's direct investment in the UK has shifted from "capital scale expansion" to "high-quality supply chain integration" over the past five years, with a significant rebound in investment flow expected in 2024-2025, driven by strong performance in renewable energy and greenfield projects [1][4] - The establishment of a "High-Level Climate and Nature Partnership" during the visit validates the business logic of collaboration in the "net-zero emissions" sector, highlighting the complementary strengths of both countries [1][3] Investment Trends - China's direct investment in the UK has transitioned from acquisition-driven capital to strategic greenfield projects, with FDI stock declining from approximately £6 billion in 2020 to £3.7 billion by the end of 2023, representing about 0.2% of the UK's total inward FDI [5][6] - Despite the decline in FDI stock, the number of Chinese projects in the UK has remained robust, averaging 37 to 46 new projects annually from 2021 to 2025, with a notable rebound in investment flow expected to reach €10 billion in 2024-2025 [5][6] Employment Impact - Chinese enterprises in the UK employ over 57,000 individuals and generate nearly £99 billion in annual revenue, with at least 9,356 new jobs created from 2021 to 2025, peaking at 2,814 new jobs in the 2023 fiscal year [6] Regional Investment Distribution - Investment from China has shifted from a concentration in London to a more balanced distribution across the UK, with greenfield investments rising to 60% of total investments by 2025, benefiting regions such as the West Midlands and North East England [8][11] Strategic Focus Areas - The focus of Chinese investment has moved towards renewable energy and electric vehicle supply chains, with significant investments in offshore wind, energy storage, and battery technology [14][19] - The West Midlands has become a key area for electric vehicle supply chains, while the North East and Yorkshire are transitioning from traditional heavy industries to low-carbon manufacturing [15][19] Challenges and Opportunities - The UK faces increasing competition from other European countries for Chinese investment, with regulatory uncertainties and unclear review processes diminishing its attractiveness [20][21] - The UK's National Security and Investment Act (NSIA) presents challenges for Chinese enterprises, as the unpredictability of the review process can lead to increased costs and project delays [23][24] Recommendations for Improvement - To enhance its attractiveness to Chinese investors, the UK should establish a green investment fast track for low-sensitivity projects and create a standardized trust framework to help Chinese enterprises navigate the regulatory landscape [28][29] - Strengthening post-investment support systems and ensuring clear communication regarding project delivery processes will be crucial for fostering a conducive investment environment [31]