Group 1: Economic Growth and Foreign Investment - China's actual use of foreign capital increased by 13.2% year-on-year in March, with 12,603 new foreign-invested enterprises established in the first quarter, a growth of 4.3% [1] - China's economy grew by 5.4% year-on-year in the first quarter, exceeding expectations, supported by increased government fiscal spending and measures to stabilize the real estate and stock markets [3] - The global foreign direct investment confidence index ranked China first among emerging markets for three consecutive years, highlighting its potential as a stabilizer for global business confidence [3] Group 2: Foreign Companies' Investments and Projects - Saudi Aramco has invested over 240 billion yuan in various projects in China, including a joint investment of 83.7 billion yuan in a petrochemical project, viewing China as a "oasis of certainty" amid global uncertainties [2] - Toyota announced an investment of 14.6 billion yuan to produce Lexus electric vehicles and batteries in Shanghai, while AstraZeneca plans to invest $2.5 billion to establish a global strategic R&D center in Beijing [6] - Scania's first heavy truck production base in China, with an annual design capacity of 50,000 units, represents the largest overseas investment in its 60-year history [5] Group 3: Advantages in Supply Chain and Innovation - Over 80% of Apple's top 200 global suppliers have factories in China, showcasing the country's strong automation and AI capabilities in manufacturing [4] - Valeo, a century-old French automotive supplier, has localized its core technology development in China, with 13 R&D centers and over 4,500 engineers [5] - China's industrial chain integration capabilities are considered irreplaceable globally, providing a competitive edge in engineering talent and industrial support [5] Group 4: Policy and Market Environment - China's service sector is increasingly open to foreign investment, with 13 foreign enterprises approved for value-added telecommunications services and several foreign-funded hospitals established [7] - Recent policy measures include allowing foreign investment companies to use domestic loans for equity investments and expanding the list of countries eligible for visa-free entry [7] - The Chinese government emphasizes the importance of foreign investment, creating a favorable business environment that attracts long-term investments from companies like those from Germany [8]

Group 1 - The provincial governor emphasizes the importance of adapting to external changes while promoting high-quality development of foreign trade and investment [1] - Nanjing Kekan Outdoor Products Company is transitioning from traditional foreign trade to cross-border e-commerce and digital trade, focusing on product innovation and market diversification [1] - The governor encourages foreign trade enterprises to enhance their global resource integration capabilities and improve their resilience in the face of global trade restructuring [1] Group 2 - Celanese is recognized as a leading chemical technology and specialty materials company, with its largest integrated production base in China located in Nanjing [2] - The governor expresses support for foreign enterprises to seize opportunities and deepen their development in Jiangsu, highlighting the province as a platform for mutual success [2] - Focus Technology is developing multiple e-commerce platforms to assist foreign trade enterprises in connecting with global opportunities, emphasizing the need for a comprehensive service platform for cross-border e-commerce [2]

——访商务部国际贸易经济合作研究院副院长张威 图片来源/新华社 "十五五"时期，我国制度型开放将面临诸多矛盾叠加、风险隐患增多的严峻挑战，但仍处于重要战略机遇期。 面对全球产业链供应链的调整重构，"十五五"期间，我国应围绕发展新质生产力布局全球产业链供应链，稳固提升在全球产业链中的地位。 ■中国经济时报记者 王晶晶 开放始终是驱动改革发展的关键引擎。在"十五五"发展蓝图谋篇布局之际，我国正以主动开放的姿态深度融入全球经济治理体系。为系统把握"十五五"期 间我国对外开放的战略方向与政策脉络，中国经济时报记者近日专访了商务部国际贸易经济合作研究院副院长张威，就制度型开放、高质量共建"一带一 路"、全球产业链供应链协同创新等话题进行深度解析。 制度型开放仍处于重要战略机遇期 中国经济时报："十五五"期间，我国制度型开放将面临哪些新的国际国内挑战与机遇？如何通过制度型开放进一步提升我国在全球产业链中的地位？ 张威："十五五"时期，我国面临更为复杂的国际形势，世界百年未有之大变局加速演进，同时，国内经济进入由要素驱动、投资驱动主导增长向创新驱动 主导增长转变的关键时期，中国式现代化不断推进，对制度型开放引领高水平对外开 ...

Investment Rating - The report assigns an "Overweight" rating for the industry, indicating an expected performance exceeding the CSI 300 Index by more than 15% [2][16]. Core Insights - The implementation of the Free Trade Zone (FTZ) enhancement strategy is expected to drive high-level openness and institutional innovation, leading to the integration of the entire industry chain and breakthroughs in technological innovation, which will enhance property value and rental increases within the zone [4][6]. - The FTZ's strategic policies will attract significant international investment, with a focus on facilitating trade, investment, and the flow of data, thereby enhancing the market's openness and investment environment [6][9]. - The report highlights the importance of technological innovation and financial openness in accelerating industrial innovation and integration within the FTZ, promoting collaborative development across various sectors [6][10]. Summary by Sections FTZ Enhancement Strategy - The strategy aims for a comprehensive improvement in the FTZ's institutional openness and economic quality over the next five years, focusing on trade, investment, and the free flow of data [8][11]. - The strategy will create a more favorable business environment and enhance the FTZ's role as a hub for domestic and international economic circulation [8][10]. Investment Opportunities - Recommended stocks include Zhangjiang Hi-Tech, with supporting stocks such as Pudong Jinqiao, Lujiazui A, Shanghai Lingang, and Shibei Gaoxin, which are expected to benefit from the FTZ's development [6][7]. - The report emphasizes the potential for property value appreciation and increased rental income due to the influx of quality enterprises into the FTZ [6][9]. Policy Innovations - The report outlines various policy innovations, including support for offshore international trade, electronic documentation, and the establishment of arbitration institutions within the FTZ [9][10]. - It also mentions the promotion of digital trade and the facilitation of foreign investment through improved regulatory frameworks [9][11].

Core Viewpoint - The 35th anniversary of the Pudong development highlights its achievements and future goals in maintaining strategic agility and expanding high-level openness to foster a new development pattern [3][4]. Group 1: Economic Achievements - Pudong's GDP reached 1.78 trillion yuan, with industrial output exceeding 1.32 trillion yuan and service sector revenue surpassing 1.2 trillion yuan [4]. - The total import and export volume of foreign trade in Pudong exceeded 2.6 trillion yuan [4]. Group 2: Foreign Investment and Business Environment - Pudong has attracted 28,000 foreign enterprises and branches, with nearly 50% being regional headquarters and R&D centers of multinational companies [4]. - The district aims to enhance its role as a global investment destination through deeper and broader institutional openness [4][5]. Group 3: Innovation and Talent Development - Pudong is focusing on nurturing innovation through initiatives like the "Pearl Plan" for high-end talent recruitment and affordable housing for young entrepreneurs [6]. - The Zhangjiang Science City is positioned as a brand for innovation, integrating major scientific facilities and top research institutions [5][6]. Group 4: Future Strategies - Pudong plans to implement five major actions to strengthen its mission and seize development opportunities in future industries [6]. - The district will continue to lead in reform and innovation, focusing on integrated innovation across the entire value chain [7].

4月21日，中国（广东）自由贸易试验区（下称"广东自贸试验区"）迎来挂牌10周年。10年来，广东自 贸试验区进出口总额由2015年约1100亿元增长到2024年约7400亿元，年均增速超过24%；固定资产投资 累计超1.3万亿元。 据省商务厅方面消息，10年来，广东自贸试验区累计设立港澳资企业2.9万家，实际使用港澳资539亿美 元，均占全省20%以上，成为全国港澳投资的首选地。 累计形成制度创新成果772项 广东自贸试验区成立10年来，推出了一大批具有标志性引领性的成果：累计形成制度创新成果772项， 全省复制推广237项，在全国集中推广43项，占全国四分之一；发布制度创新案例356个，列入全国最佳 实践案例8个，占全国近十分之一。 推动高水平制度型开放成效明显。获批开展对接国际高标准推进制度型开放试点，境外专业人员便利执 业等33项试点任务全面落地。 累计设立港澳资企业2.9万家 广东自贸试验区深入推进与港澳规则衔接、机制对接，实现货物、服务、资金、人员等要素自由便利流 动。10年来，累计设立港澳资企业2.9万家，实际使用港澳资539亿美元，均占全省20%以上，成为全国 港澳投资的首选地。 广东自贸试验区 ...

Group 1 - The core message emphasizes China's commitment to multilateralism and creating a favorable business environment amidst global economic challenges [1][2] - Foreign enterprises have significantly contributed to China's economy, accounting for one-third of imports and exports, one-quarter of industrial added value, and creating over 30 million jobs [1] - In 2024, despite global investment fluctuations, China established 59,000 new foreign enterprises, marking a 9.9% year-on-year increase, with foreign direct investment returns stable at 9% [1] Group 2 - China is reshaping global investment standards through institutional openness, with the "2025 Action Plan for Stabilizing Foreign Investment" expanding pilot openings in telecommunications and healthcare [2] - The unique advantages of China's business environment include a transparent and stable policy framework, which has led to a significant reduction in the negative list for foreign investment [2] - The combination of a large consumer market, digital economy, and green economy innovations showcases China's market appeal, driving growth potential [2] Group 3 - China's efforts to create an investment-friendly environment have global significance, as it strengthens trade ties with over 150 countries while countering protectionism [3] - The application to join the Digital Economy Partnership Agreement (DEPA) reflects China's proactive approach to global governance amidst rising protectionism [3] - The comprehensive coverage of foreign investment across 31 manufacturing categories and 548 subcategories illustrates the irreversible trend of interconnectedness in global supply chains [3]

今年底，海南自贸港将实现全岛封关运作，这是海南打造高水平开放型经济的"关键一跃"，标志着海南 自贸港建设进入全面制度型开放的新阶段，自由贸易港政策制度体系基本成型，成为中国高水平对外开 放的重要门户。 建设海南自贸港，体现了中国构建世界高水平开放形态的决心。在世界经济形势复杂多变的背景下，海 南自贸港力求实行最高标准的贸易投资自由化便利化制度，对标新加坡、阿联酋迪拜等全球自由贸易港 经验，打造具有较强国际竞争力的特殊经济功能区。建设7年来，按照《海南自由贸易港建设总体方 案》要求，以"零关税、低税率、简税制"和"五个自由便利、一个安全有序流动"为主要特征的自由贸易 港政策制度体系逐步在海南自贸港逐步建立起来，一系列配套政策不断落地。 海南自贸港将以制度型开放赋能新质生产力发展。立足自身气候条件、地理区位等优势，海南正着力发 展旅游业、现代服务业、高新技术产业、热带特色高效农业等四大主导产业。在高新技术产业方面，海 南将打造科技创新和科技体制改革"双高地"，充分利用国家科研平台开展原创性、引领性科技攻关，引 进培育一批新型研发机构，建设种业、深海产业、航天科技（000901）创新高地，这将极大地推动高质 量发展 ...

新华财经北京4月21日电（记者谢希瑶）近日，中共中央、国务院印发《关于实施自由贸易试验区提升 战略的意见》，对自由贸易试验区建设工作作出系统部署。 党的二十届三中全会通过的《中共中央关于进一步全面深化改革、推进中国式现代化的决定》专章部署 完善高水平对外开放体制机制，明确提出"实施自由贸易试验区提升战略，鼓励首创性、集成式探索"。 党中央高度重视自由贸易试验区建设，在一个个关键节点，一次次指路定向。 商务部国际贸易经济合作研究院副院长崔卫杰表示，在当前国际环境变乱交织的背景下，意见的出台有 助于稳定市场预期，增强各方信心，有利于锚定中国式现代化这个目标，以更大力度统筹推进深层次改 革和高水平开放，是我们坚定做好自己的事、为世界注入更多确定性和稳定性的务实行动。 从目标来看，意见强调，经过5年左右的首创性、集成式探索，实现自由贸易试验区制度型开放水平、 系统性改革成效、开放型经济质量全面提升，以贸易、投资、资金流动、交通运输、人员往来自由便利 和数据安全有序流动为重点的政策体系更加完善，科技创新和产业创新深度融合，现代产业集群能级跃 升，新质生产力加快发展，打造开放层次更高、营商环境更优、辐射作用更强的改革开放 ...

Core Viewpoint - The implementation of the Free Trade Zone (FTZ) enhancement strategy is a significant measure to promote high-level opening up and high-quality development in China, guided by Xi Jinping's thoughts and the principles of the 20th National Congress of the Communist Party of China [1] Group 1: Systematic Deployment and Objectives - The FTZ aims to enhance the level of institutional opening, systemic reform effectiveness, and the quality of the open economy over approximately five years, focusing on trade, investment, capital flow, transportation, personnel exchange, and data security [2] - The policy framework will be improved to facilitate the free and convenient flow of goods, services, and data, while promoting deep integration of technological and industrial innovation [2] Group 2: Trade and Investment Facilitation - The strategy emphasizes enhancing comprehensive competitiveness in foreign trade, optimizing goods trade, and supporting the development of service and digital trade [2] - It allows enterprises within the FTZ to conduct physical mixing of gold-bearing minerals under different tax codes and explores the establishment of a "white list" system for imported research and development items in the biopharmaceutical sector [2] Group 3: Innovation and Industry Development - The FTZ will promote the integration of innovation chains and industrial chains, support the construction of advanced industrial clusters, and encourage comprehensive innovation across the entire industrial chain [3] - It aims to enhance the modernization level of the industrial chain and support the development of smart connected vehicles and civilian drone testing bases [3] Group 4: Data and Financial Services - The strategy focuses on promoting efficient, convenient, and secure data flow, establishing market rules for data elements, and enhancing cross-border data flow [4] - It also aims to deepen financial sector opening and innovation, expand pilot programs for qualified foreign limited partners, and promote the integration of domestic and foreign currency funds for multinational companies [4] Group 5: Implementation and Coordination - Local governments and relevant departments are urged to strengthen reform efforts under the centralized leadership of the Party, ensuring the effective implementation of the FTZ enhancement strategy [4] - The Ministry of Commerce will coordinate and promote the replication of successful experiences and ensure the smooth implementation of the strategy [4]