瑞典企业斯堪尼亚是全球知名的重型卡车和巴士制造商之一。2025年10月15日，斯堪尼亚如皋工业生产 基地在江苏如皋正式开业，图为该基地现场。吴树建摄（人民视觉） 12月23日，重庆市沙坪坝区磁器口古镇景区，外国游客在拍照。孙凯芳摄（人民视觉） 第八届进博会现场，观众在展台体验健身器械。王 初摄（人民视觉） 0:00 回顾2025年，中国对外开放步履不停。 这一年，外资深耕中国步伐坚定，展会经济溢出效应继续释放，在华研发赋能企业全球发展，消费市场 迸发强劲活力……从政策支持到场景创新，从产业协同到提升便利，中国以更加包容的姿态敞开怀抱， 成为推进世界经济的"稳定源"，共享发展机遇的"引力场"。 ——编 者 投在中国 2025年前11个月，全国新设立外商投资企业61207家，同比增长16.9%；11月当月，新设立外商投资企 业7425家，同比增长35.3% 投资目的地：中国。这是众多外企坚定的选择。 年初，《2025年稳外资行动方案》对外发布。"扩大电信、医疗、教育等领域的开放试点""引导更多优 质外资长期投资我国上市公司""精心设计实施'投资中国'系列活动"……一项项务实举措，聚焦加大引资 稳资力度，为外商来华 ...

哈喽，大家好，小圆这篇评论就跟大伙聊聊最近的热点，国际资本为啥扎堆加仓中国，这段时间，美国 资本重仓中国人工智能、外资重返中国股市的消息到处都是，连英国《金融时报》在今年2月就直言， 中国市场一直都值得投资。 要知道，资本这东西最精明，没实打实的好处可不会盲目跟风，在全球经济复苏不稳、地缘冲突不断的 当下，中国能成为外资的香饽饽，肯定有其深层原因，接下来小圆就从政策、经济基本面和产业优势这 几个方面，跟大家好好分析分析。 政策托底 资本投资最看重的就是确定性，而中国的政策恰恰把这种确定性给足了，今年的中央经济工作会议特意 强调了两件事：一是深化拓展人工智能+，二是深化外商投资促进体制机制改革，更关键的是，加快人 工智能等数智技术创新、落实准入又准营这些内容，还被写进了十五五规划建议里。 这可不是短期的权宜之计，而是长期的发展方向，除了产业政策明确，中国在开放上也拿出了真招。缩 减外资准入负面清单、保障外资企业平等参与政府采购、落实再投资税收抵免政策，这些举措都让外资 感受到了诚意。 如果说政策是定心丸，那扎实的经济基本面就是外资敢于加仓的压舱石，今年以来，中国经济跑得很 稳，出口保持着较强韧性，内需也在稳步增 ...

Core Insights - China's economy is demonstrating resilience and innovation, with significant growth in foreign trade and foreign investment despite external challenges [1][5][8] - The transformation of China's foreign trade structure is evident, with a shift from labor-intensive products to high-tech and high-value-added goods [3][5] - Foreign companies are increasingly viewing China not just as a market but as a vital part of their global supply chain and innovation ecosystem [8][9] Group 1: Trade and Economic Growth - In the first three quarters, China's total goods trade value increased by 4% year-on-year, with new foreign-funded enterprises rising by 4.1% in the first half of the year [1][5] - High-tech product exports grew by 11.9% year-on-year, contributing over 30% to overall export growth [5][6] - The export of electromechanical products now accounts for 60% of total exports, indicating a significant shift in trade composition [3][5] Group 2: Company Innovations and Developments - Huakin, a leading company in smart product manufacturing, plans to produce 230 million smart products in 2024, with over 100 million units destined for international markets [2] - The company has invested over 5 billion yuan annually in technology development, employing over 19,000 R&D personnel [2] - Shanghai's Qinglong Intelligent Technology has produced 100,000 service robots, which have collectively traveled over 40 million kilometers, equivalent to over 1,000 times around the Earth [5][6] Group 3: Foreign Investment and Market Dynamics - Over 5,700 new foreign-funded enterprises were established annually in Shanghai since the 14th Five-Year Plan, with a total of 33,000 new foreign-funded enterprises nationwide in the first half of the year [8][9] - Schneider Electric has established China as a key supply chain and R&D base, emphasizing the collaborative advantages of the industrial chain [8] - Foreign companies express confidence in investing in China, viewing it as a strategic market for future growth [9]

Core Insights - The Swiss company Medtronic has established a production base in Changzhou, China, focusing on the growing market for chronic disease management and self-injection devices [1][2] - The company has doubled its initial investment to €100 million, indicating strong confidence in the Chinese market [2] - The production facility is expected to start operations in June 2025, with an annual capacity of 100 million injection pens [2] Company Overview - Medtronic specializes in the development, production, and sales of injection pens and automatic injectors, serving major pharmaceutical companies globally [1] - The company has chosen Changzhou for its strategic advantages, including location, transportation, cost, and business environment [1][2] Market Dynamics - The demand for liquid formulations over traditional tablets is increasing, driven by better absorption rates, particularly for diabetes and obesity treatments [1] - The local industrial ecosystem in Changzhou supports Medtronic's operations, with nearby suppliers enhancing efficiency and reducing costs [3] Investment and Growth - The Changzhou project was approved in April 2023 and construction began in September 2023, with the main factory completed in just 14 months [2] - Medtronic's investment reflects a broader trend of foreign companies entering the Changzhou market, with foreign direct investment reaching $863 million in the first seven months of 2025, a year-on-year increase of 18.9% [5] Infrastructure and Logistics - The proximity to high-speed rail networks facilitates quick transportation to major cities like Shanghai and Nanjing, enhancing operational efficiency [6] - The local government is proactive in supporting foreign enterprises, contributing to a favorable business environment [2][5]

Core Insights - Foreign companies are increasingly committed to the Chinese market, transitioning from merely investing in China to establishing a deeper presence and integrating with local opportunities [1][5] - The Shanghai Lego Resort, the first of its kind in China, exemplifies the rapid development supported by the local government, highlighting the favorable business environment [1][3] - Numerous foreign investment projects have been launched in Shanghai this year, including Toyota's electric vehicle and battery R&D facility and Dassault Systèmes' first open innovation lab in China [3][4] Group 1: Foreign Investment Projects - The Shanghai Lego Resort opened in just 18 months, showcasing the efficiency and support from the local government [1][3] - Toyota is establishing a wholly-owned Lexus electric vehicle and battery R&D company in Shanghai, indicating strong foreign investment in the automotive sector [3] - Dassault Systèmes has set up its first open innovation lab in China, focusing on advanced manufacturing, new materials, and life sciences, aiming to empower local startups [3][4] Group 2: Business Growth and Opportunities - Dassault Systèmes has experienced over 22 times growth in its business in China over the past 20 years, with double-digit growth expected in the first half of 2025 [3][4] - The establishment of joint offices has enhanced legal service capabilities for Chinese companies expanding internationally, reflecting the evolving service trade landscape [4] - From January to July this year, Shanghai saw the establishment of 3,624 new foreign enterprises, a 3.1% increase year-on-year, with nearly 80,000 foreign companies currently operating in the city [4]

Group 1 - The core message of the news highlights the successful conclusion of the 25th Investment Fair, where a total of 1,154 investment projects were signed, with a planned total investment of 644 billion yuan [1] - During the event, foreign executives expressed strong commitment and enthusiasm for investing in China, indicating that the country remains a preferred destination for global investment [1]

Group 1 - The Chinese government emphasizes its strong potential to attract foreign investment despite global economic challenges such as insufficient momentum and increasing trade barriers [1] - China's high-tech industry saw a significant increase in foreign investment, reaching 137.36 billion RMB in the first seven months of the year, with notable growth in e-commerce (146.8%), aerospace (42.2%), chemical pharmaceuticals (37.4%), and medical equipment (25.5%) [3] - The Chinese market is recognized for its unique appeal, supported by a complete industrial supply chain and a commitment to opening up, which creates a favorable environment for foreign investment [3][4] Group 2 - Budweiser Asia's CEO highlighted China as the largest consumer market for the company, with plans for continued investment, particularly in green and low-carbon sectors [3] - The Swedish company Alfa Laval has seen rapid growth in China, which has become its largest single market, surpassing the U.S. for the first time in 2024 [4] - The number of newly established foreign-funded enterprises in China increased by 14.1% year-on-year in the first seven months, reflecting the effectiveness of policies aimed at attracting foreign investment [4]

Core Viewpoint - KKR has successfully launched its first onshore RMB fund in Shanghai, marking a significant milestone in its commitment to the Chinese market and reflecting the growing interest of foreign capital in Chinese assets [3][4][7]. Fund Details - The fund, named Kaide Shipu (Shanghai) Private Investment Fund Partnership (Limited Partnership), was established in June 2025 and registered in Shanghai's Pudong district, focusing on equity investments in RMB [5][6]. - The fund management is handled by Kaide Private Fund Management (Shanghai) Co., Ltd., backed by KKR, with notable limited partners including Ping An Capital and the TPC family office from Singapore [6][7]. Market Context - The A-share market has recently surpassed a total market capitalization of 100 trillion yuan for the first time, indicating a robust market environment that is attracting foreign investment [3][14]. - There is a notable influx of foreign private equity firms establishing operations in China, with several new fund management companies registered in 2023, highlighting the increasing appeal of the Chinese market [13]. KKR's Investment Strategy - KKR's investment strategy focuses on mature industries with stable competitive landscapes, aiming for companies with strong pricing power and potential for operational efficiency improvements [10]. - Despite a decrease in the number of investments in recent years due to pricing discrepancies between buyers and sellers, KKR believes that there are more acquisition opportunities now than in the past [10]. Recent Acquisitions - KKR is actively pursuing acquisitions in China, including the recent approval for the acquisition of shares in Yuanjing International, associated with the popular Da Yao soda brand [10][11]. - The firm is also competing in the bidding for Starbucks' business in China, indicating its aggressive stance in the market [10]. Foreign Investment Sentiment - There is a growing recognition among global investors that the best assets are in China, with a significant increase in interest in Chinese technology companies and innovative pharmaceuticals [14][15]. - The sentiment reflects a broader trend of foreign capital seeking to capitalize on China's vast consumer market and supply chain capabilities [15].

Group 1 - The core viewpoint of the article highlights the increasing foreign investment in Chinese RMB assets, with foreign holdings of domestic RMB bonds exceeding $600 billion and a net increase of $10.1 billion in domestic stocks and funds in the first half of the year [1][3] - Foreign investment in RMB assets has shown stability, with a notable increase in foreign holdings of domestic bonds and stocks, indicating a growing global willingness to allocate capital to RMB assets [3][4] - The economic fundamentals of China, with a GDP growth of 5.3% in the first half of the year and a significant contribution from domestic demand, create a stable macroeconomic environment for foreign investment [3][4] Group 2 - The development of China's financial markets, which are now among the largest globally in terms of market capitalization for both bonds and stocks, provides diverse options for foreign investors [4][5] - The need for diversified global asset allocation due to increased volatility in international financial markets has made RMB assets attractive for risk diversification and yield enhancement [5][6] - The net inflow of foreign direct investment into China remains strong, with a reported $31.1 billion in equity investment in the first five months of the year, reflecting the ongoing appeal of the Chinese market [6]

Core Insights - The overall foreign investment in RMB assets has remained stable since 2025, with foreign holdings of domestic RMB bonds exceeding $600 billion, marking a historically high level [1] - In the first half of the year, foreign net purchases of domestic stocks and funds amounted to $10.1 billion, reversing a two-year trend of net selling, with a significant increase in May and June to $18.8 billion [1] - The future outlook for foreign investment in RMB assets is positive, supported by a stable macroeconomic environment and favorable financial market developments [2] Group 1 - Foreign investment in RMB bonds has increased, with current holdings at over $600 billion, indicating strong interest from international investors [1] - The net increase in foreign investment in domestic stocks and funds in the first half of 2025 signifies a shift in investor sentiment towards the Chinese market [1] - The proportion of foreign holdings in domestic bonds and stocks is approximately 3%-4%, suggesting room for growth in foreign allocation to RMB assets [1] Group 2 - The robust economic fundamentals in China are creating a stable macro environment for foreign investments, with recent policies aimed at expanding domestic demand showing positive effects [2] - The high-quality development of financial markets in China, including improved connectivity and a comprehensive financial market system, enhances the attractiveness for foreign investors [2] - The global demand for diversified asset allocation is driving foreign interest in RMB assets, with 30% of surveyed central banks indicating plans to increase their RMB asset holdings [2]