Core Viewpoint - The article emphasizes the increasing openness of China's capital markets and the growing global recognition of Chinese assets, suggesting that 2025 will be a pivotal year for understanding China's international competitiveness [1]. Group 1: Capital Market Openness - Recent actions in capital market openness have significantly enhanced the global presence of Chinese assets, with a narrative of "re-evaluating Chinese assets" gaining traction among global capital [1]. - The report from Deutsche Bank highlights China's breakthroughs in high value-added sectors and the establishment of a competitive advantage across the entire industry chain [1]. Group 2: Foreign Investment and Collaboration - The financial market is actively promoting the Chinese narrative and enhancing cooperation with overseas institutions to attract long-term global capital [3]. - As of now, there are four wholly foreign-owned securities firms in China, including Goldman Sachs and Morgan Stanley, with more foreign firms seeking to enter the market [3]. - Efunds and Brazil's Itaú Asset Management are collaborating on ETF mutual listing, reflecting the accelerated overseas expansion of public funds [3]. Group 3: Regulatory Support - The China Securities Regulatory Commission (CSRC) is pushing for a balanced approach of "bringing in" and "going out," supporting qualified foreign institutions to establish operations domestically [4]. - The CSRC has been enhancing foreign investment policies, including easing the Qualified Foreign Institutional Investor (QFII) access and expanding investment scopes [8]. Group 4: Increased Attractiveness of Chinese Assets - The capital market's confidence in foreign investment is growing, with A-shares and Hong Kong stocks showing a stable upward trend, particularly in the technology sector [6]. - Major foreign institutions like Goldman Sachs and Morgan Stanley are optimistic about the Chinese stock market, noting it has experienced one of the strongest starts in history this year [6]. - There is a belief that if supportive policies continue, foreign capital will accelerate its return to the Chinese market, as Chinese stocks remain undervalued [6]. Group 5: Improvement of Open Systems - The ongoing improvements in the regulatory framework are making it easier for foreign institutions to enter and remain in the Chinese market [8]. - The CSRC is working on a comprehensive plan for capital market openness, aiming to enhance cross-border connectivity and improve the efficiency of overseas listing processes [9].

Core Viewpoint - China's economy has rapidly developed under conditions of openness, and future high-quality development must also occur under more open conditions, as stated by Wang Yiming, Vice Chairman of the China International Economic Exchange Center [3][4] Group 1: Economic Globalization Trends - Economic globalization has entered an adjustment period, presenting new challenges for China, but the country possesses market, industrial chain, and openness advantages that create favorable conditions for building an open world economy [3][4] - The trajectory of globalization has shifted post-2008 financial crisis, with the pandemic and the Russia-Ukraine conflict further contributing to a decline in globalization, leading to new trends such as the restructuring of global supply chains and the rise of the "Global South" as a significant force [4][5] - Despite the rise of anti-globalization sentiments, globalization is not stagnating or ending; global trade's share of GDP is increasing, and digital trade is becoming a new engine for growth [4][5] Group 2: Institutional Opening and High-Level Openness - China aims to enhance compatibility between domestic rules and international high-standard trade rules through institutional opening, providing more stability and certainty to the international community [5][6] - Five key areas for advancing institutional opening include: 1. Actively aligning with international high-standard trade rules, particularly through joining agreements like CPTPP and DEPA [5] 2. Expanding autonomous and unilateral openness, focusing on reducing tariffs on intermediate goods and gradually easing restrictions in service sectors [6] 3. Prioritizing service sector opening, reducing negative lists, and optimizing cross-border service trade regulations [6][7] 4. Creating a market-oriented, law-based, and international business environment, with a focus on fair competition and transparent legal frameworks [7] 5. Actively participating in the reform of the global economic governance system to better reflect the rise of the "Global South" and contribute to a fairer global economic order [7][8]

对标国际，为全球城市治理贡献"中国方案" 徐晨：以"北京服务"为主线对标国际规则 3月25日，北京市发布《北京市全面优化营商环境 打造国际一流"北京服务"工作要点（2025 年）》，明确提出"高水平构建更加自由便利的投资贸易环境"，并在外商投资准入、外资落地保障等领 域推出了一批对接高水平国际经贸规则的措施。对此，对外经济贸易大学北京对外开放研究院研究员徐 晨表示，营商环境是衡量城市竞争力的核心指标，也是吸引国际资本、人才和技术的金色砝码。作为我 国营造市场化、法治化、国际化一流营商环境的标杆窗口，北京以打造国际一流"北京服务"为主线，在 营商环境对标国际规则方面增添力度与温度，为"十五五"打牢良好开局。 徐晨：北京在全面优化营商环境的国际化方面已经积累了"两区"先行示范、主动对接国际规则、精 准优化外资民企服务，以及科技金融赋能支持的宝贵经验，打造出"高标对标、制度创新、服务集成、 法治保障"四位一体的优化体系。未来，依然要以优质高效服务，助力广大企业在京实现更好发展，让 所有市场主体在推动新时代首都发展进程中展现更大作为，探索"北京服务"的国内外制度经验输出潜 力，为全球城市治理贡献"中国方案"。 数字创 ...

Core Viewpoint - The article highlights the announcement of the "Top Ten Global Investment Partners" in Shanghai, emphasizing the city's efforts to enhance its investment environment and attract foreign investment through strategic partnerships and innovative approaches [1][3]. Group 1: Global Investment Partner Program - The "Global Investment Partner Program" was initiated in 2021 to strengthen global resource allocation and broaden investment channels, with 40 international institutions recognized as quality representatives for "Invest Shanghai" [3]. - The 2025 Shanghai Global Investment Promotion Conference revealed ten organizations awarded as "Top Ten Global Investment Partners," including Ernst & Young, Sequoia China, and others [3]. Group 2: Confidence in Shanghai's Investment Environment - Ernst & Young's partner highlighted the firm's deep involvement in Shanghai's urban development, showcasing a commitment to enhancing the investment environment [4]. - Shanghai has implemented optimization plans for its business environment for eight consecutive years, aligning with international trade rules and creating a replicable reform model [4][5]. - The World Bank's report indicates that 55% of China's business environment best practices originate from Shanghai, underscoring its leadership in this area [4]. Group 3: Foreign Investment Trends - Foreign enterprises are increasingly confident in Shanghai's investment environment, with many opting to establish regional headquarters and R&D centers in the city [5]. - Shanghai's competitive edge in attracting global investment stems from a combination of factors, including a favorable business environment, forward-looking policies, and a robust industrial ecosystem [5]. - The city is proactively engaging in sectors like artificial intelligence, digital economy, and green development, enhancing its appeal to foreign investors [5]. Group 4: Collaboration and Efficiency - FirstService's CEO noted the impressive cross-departmental collaboration in Shanghai, which has expedited the project approval process for foreign investments [7][8]. - Shanghai's innovative policies, such as the "20 measures to stabilize foreign investment," have facilitated investment convenience and financial openness [8]. - The city aims to integrate global resources and enhance its resilience and innovation through strategic directions like global connectivity and green transformation [8].

Core Insights - The China Development Forum 2025 concluded recently, marking its 25th anniversary with participation from 86 multinational companies from 21 countries, indicating a record high of new attendees [1] - Multinational companies are keen to understand China's latest economic policies and development trends, seeking opportunities in the Chinese market amidst global challenges [1] - The forum highlighted China's transition towards high-quality development and its impact on the global economy, emphasizing the need to address both internal and external challenges [1] Group 1 - Foreign business leaders noted China's burgeoning innovation momentum, with significant investments such as AstraZeneca's $2.5 billion commitment to establish a strategic R&D center in Beijing [2] - The investment model of foreign companies in China is shifting from manufacturing to research and development, reflecting China's move from low-end manufacturing to high-end manufacturing and technological innovation [2] - China's vast consumer market potential and the emergence of an "engineer dividend" are expected to drive economic growth, supported by a favorable business environment [2]

他认为，随着地缘政治冲突加剧、贸易保护主义抬头、资本跨境流动放缓等各种矛盾和问题集中暴露出 来，全球化出现了一些新特点。过去15年歧视性贸易政策或限制性贸易政策数量远远高于自由化(贸易) 政策。同时，全球产业链、供应链正在加快重构。 "全球化在促进贸易和投资繁荣的同时，客观上也带来了一种收益的不平衡、产业的空心化问题，所以 发达经济体、单边主义、保护主义有所抬头，长期处在主导地位的自由贸易的理念现在受到公平贸易、 对等关税这些理念新的挑战。"王一鸣说。 王一鸣还指出，"'全球南方'已成为推动全球化的重要力量。"2002年至2022年，发展中经济体占全球 GDP份额由接近20%提高到40.4%，差不多增加了一倍，出口占比由29.7%提升到45.1%。越来越多的新 兴市场参与全球生产价值链当中，在跨境贸易与投资中的地位不断提升。从投资来看，新兴市场的占比 从2002年的28%上升到2022年的70.8%，超过了发达经济体。 "中国过去的高速发展是在开放的条件下取得的，未来中国要推进现代化，也必然要在更加开放的条件 下来展开。而经济全球化进入调整期，确实也给中国带来了一些新的挑战。"王一鸣强调。 王一鸣强调，制度型 ...

贸易政策合规工作进一步加强（锐财经） 在河北唐山港京唐港区集装箱码头，靠泊的轮船正进行装卸货作业。 新华社记者 杨世尧摄 日前，国务院办公厅印发《关于进一步加强贸易政策合规工作的意见》（以下简称《意见》），提出了 一系列重点任务和保障措施。专家分析，《意见》旨在进一步明确贸易政策合规工作指导思想，加强贸 易政策合规工作机制要求，推动建设更高水平开放型经济新体制，加快构建新发展格局，为当前和今后 一个时期开展贸易政策合规工作提供指导。 合规工作取得积极成效 加强贸易政策合规工作是稳步扩大制度型开放的重要手段，是建设更高水平开放型经济新体制的重要内 容。 突出合规主体职责。《意见》强调，在贸易政策制定过程中，政策制定部门应按照"谁制定、谁评估"原 则，对拟出台的政策措施是否合规开展评估。 严格做好合规评估。政策制定部门应严格对照世贸组织规则和中国加入承诺进行评估。 履行合规工作程序。《意见》提出，合规评估应作为贸易政策出台前的必要前置环节。合规评估认为贸 易政策存在与世贸组织规则和中国加入承诺不符风险的，政策制定部门应作必要修改。 回应外方合规关注。《意见》要求，商务部负责接收世贸组织其他成员提出的意见，并协助政 ...

Group 1 - The China Development Forum 2025 agenda has been officially released, highlighting its significance as a platform for dialogue between Chinese government leaders, global business leaders, international organizations, and scholars [2][4]. - The theme for this year's forum is "Fully Releasing Development Potential, Jointly Promoting Stable Global Economic Growth," focusing on macro policies, new growth drivers, boosting consumption, new productivity, artificial intelligence, green development, and institutional openness [4]. Group 2 - The forum has been held since 2000 and is organized by the Development Research Center of the State Council, with the China Development Research Foundation as the executing body [4].

Core Viewpoint - The China Development Forum 2025 aims to "unleash development momentum and promote stable global economic growth," focusing on macro policies, new growth drivers, consumption stimulation, new productivity, artificial intelligence, green development, and institutional openness [2][7][10]. Group 1: Forum Overview - The forum will take place from March 23 to 24, 2025, in Beijing, marking its 25th anniversary [1][3]. - Chinese Premier Li Qiang will attend the opening ceremony and deliver a keynote speech [3][7]. - The forum will gather over a hundred representatives from major international organizations, multinational corporations, and important research institutions, highlighting global interest in China's economic growth [4][7]. Group 2: Economic Context - China's per capita GDP has surpassed $10,000, indicating progress in new urbanization, green transformation, and digitalization [4][7]. - The demand for diverse consumption and service-oriented needs is increasing, with significant potential for total demand yet to be released [4][7]. - The achievements of the past year are attributed to effective policy responses to external challenges and a focus on high-quality development and green low-carbon transformation [3][5]. Group 3: Global Economic Dynamics - The forum will address profound changes in the global economy, including technological revolutions, geopolitical tensions, and climate change risks, which create significant uncertainties [6][10]. - The discussions will explore whether the principles of economic globalization and comparative advantages remain unchanged amid these transformations [6][10]. Group 4: Collaborative Opportunities - The forum emphasizes the need for collaboration to fully unleash global economic growth potential, with a focus on creating a fair competitive market environment [11][19]. - Multinational companies are seen as both beneficiaries and contributors to China's economic success, indicating a mutual relationship in fostering growth [11][19].