宏观快评：政策周观察第34期：对外开放继续推进

Policy Developments - The Chinese government is promoting the replication of pilot measures from the Shanghai Free Trade Zone to enhance institutional openness while maintaining risk control[2] - Shenzhen is set to expand its reform and innovation tasks in finance, low-altitude economy, data, and pharmaceuticals, allowing companies from the Guangdong-Hong Kong-Macao Greater Bay Area to list on the Shenzhen Stock Exchange[2][3] - The Ministry of Commerce plans to revise and expand the "Encouragement Directory for Foreign Investment" to facilitate foreign investment and reinvestment in China[3] Economic Measures - The government aims to stabilize the real estate market by activating demand and optimizing supply, with a focus on risk mitigation[7][22] - The Ministry of Industry and Information Technology is addressing issues in the automotive sector, including reducing "involution" in the new energy vehicle industry and ensuring payment terms do not exceed 60 days[7] - A new policy aims to improve social security and public services, including raising the minimum wage and expanding access to quality education[8][27] Trade Relations - The U.S. has agreed to impose a 55% tariff on Chinese goods, while China will maintain a 10% tariff on U.S. imports, continuing to export magnets and rare earth materials to the U.S.[8][30] - The Chinese government emphasizes the importance of maintaining fair competition and equal treatment for foreign enterprises operating in China[32]