中新社吉隆坡5月28日电 题：吉隆坡三场峰会上的"多边合作之声" 中新社记者 陈悦 5月26日至27日，东盟峰会、东盟－海合会(海湾阿拉伯国家合作委员会)峰会、东盟－中国－海合会峰 会陆续在马来西亚吉隆坡举行，增进区域合作及维护多边体系成为各场峰会上所发出的强劲声音。 作为本次峰会东道主，东盟轮值主席国马来西亚总理安瓦尔在三场峰会开幕致辞中都强调，应增进区域 合作、维护多边体系以应对国际挑战。《东盟－中国－海合会峰会联合声明》明确表示，"强调区域主 义和多边主义、地区团结和国际法在应对共同挑战中的重要性"。 安瓦尔在27日晚举行的东盟－海合会－中国经济论坛上说，中国已证明了自己在经济和技术领域推动变 革的能力，并正努力示范如何团结一致致力于人类公平正义的发展目标。 马新社亦撰文指出，中国和合作伙伴正在建设更加互联互通、具有韧性经济架构、共享发展而非垄断发 展权益的经济体。 马来西亚亚太"一带一路"共策会会长翁诗杰接受中新社采访时高度肯定中国在维护多边体系和倡导区域 合作、加强全球供应链韧性等方面的贡献。他指出，在此次系列峰会上，作为东盟和中国共同捍卫的价 值，多边主义和自由贸易获得彰显，深入人心。在当前国际形 ...

Core Viewpoint - The 2025 Maritime Silk Road Port Cooperation Forum emphasizes the need for consensus and collaboration in the maritime industry to promote high-quality development through green low-carbon initiatives, digital connectivity, and multilateralism [1][4]. Group 1: Forum Overview - The forum took place in Ningbo, Zhejiang, on May 27, 2025, and featured the release of a joint statement titled "Green Sharing, Smart Connectivity: Enhancing the Resilience of Port and Shipping Logistics Chains Amid Global Changes" [1][4]. - The joint statement was unanimously adopted during a high-level roundtable meeting attended by 47 representatives from key domestic and international port operators, shipping companies, international maritime organizations, and research institutions [4]. Group 2: Industry Challenges and Responses - The global maritime industry is currently facing multiple challenges, including pressure for green transformation and instability in supply chains, necessitating a search for cooperative consensus and new development paths [4]. - The joint statement asserts that the maritime industry, as a pillar of global trade, should contribute to global economic stability by achieving high-quality development and acting as a reliable "maritime anchor" [4]. Group 3: Commitments and Initiatives - The signatories of the joint statement commit to actively practicing green development principles and promoting low-carbon transformation in the maritime industry [4]. - There is a focus on deepening digital collaboration and innovation to integrate smart ports and intelligent shipping [4]. - The statement emphasizes the importance of strengthening supply chain risk warning and emergency cooperation mechanisms to ensure the stability and smoothness of global logistics chains [4]. - A commitment to multilateralism is highlighted, supporting a rules-based free trade system and resolving trade disputes through dialogue and consultation [4]. - The forum aims to build a platform for cooperative prosperity, promote knowledge sharing and capacity building, and oppose technological monopolies and market fragmentation, thereby fostering a maritime community of shared destiny [4].

Core Viewpoint - The former German Chancellor Merkel emphasizes the importance of multilateralism in addressing international issues, particularly in the context of the Trump administration's "America First" policy and the ongoing conflict in Ukraine [1][2]. Group 1: U.S.-Germany Relations - Merkel asserts that achieving prosperity for Europe and Germany requires dialogue with the U.S., while cautioning against actions that might provoke Trump [1]. - She highlights the necessity for the U.S. and Trump to recognize that international cooperation leads to greater prosperity [2]. Group 2: European Union and NATO - Merkel stresses the indispensable unity of the European Union (EU) and the need to consider common interests among member states [2]. - She advocates for Germany to accelerate its defense spending in response to NATO's calls, emphasizing that the burden should not fall solely on the U.S. [2]. Group 3: Relations with Russia - Merkel reflects on the importance of dialogue with Russia, even amidst conflicts, citing the need for communication with President Putin [2]. - She mentions the Minsk Agreement, which was crucial in establishing a ceasefire and peace path for the eastern conflict, suggesting that the situation in Ukraine could be worse without it [2]. - Regarding the "Nord Stream 2" gas pipeline, Merkel explains that Germany's economic sector requires affordable energy to transition away from nuclear power [2].

Core Points - The ASEAN-China-GCC summit emphasizes the importance of economic cooperation and mutual benefits among ASEAN, China, and the Gulf Cooperation Council (GCC) [1][4][5] - The summit reaffirms the commitment to regionalism, multilateralism, and the central role of ASEAN in promoting peace, stability, and prosperity in the region [1][5][6] - The leaders express serious concerns regarding the situation in the Middle East, calling for humanitarian aid and protection of civilians [1][2][6] Economic Integration - The summit aims to enhance economic cooperation based on mutual respect and trust, promoting prosperity and sustainable development [4][5] - Key areas of focus include strengthening the multilateral trading system led by the WTO, promoting free trade agreements, and enhancing supply chain resilience [5][8] - The completion of the China-ASEAN Free Trade Area 3.0 negotiations and the anticipated conclusion of the China-GCC Free Trade Agreement negotiations are highlighted [5][8] Connectivity - The summit discusses enhancing connectivity through high-quality Belt and Road Initiative cooperation, sustainable infrastructure development, and maritime security [7][8] Energy Security and Sustainability - The leaders recognize the global necessity for sustainable energy transition and cooperation in energy diversification and supply chain security [8][9] - Emphasis is placed on promoting clean energy development and enhancing investment in energy infrastructure [8][9] Digital Transformation and Innovation - The summit seeks to explore digital economy development, including digital trade, fintech, and artificial intelligence [9][10] - There is a focus on promoting digital skills development and ensuring inclusive participation in the digital age [10] Food and Agriculture - The leaders commit to promoting sustainable agriculture and enhancing food security through cooperation and technology [11][12] Cultural Exchange - The summit aims to deepen understanding and connections among the peoples of ASEAN, China, and the GCC through cultural exchanges and educational initiatives [12][13]

拨云见日，掘金多瑙 —— 欧洲国 别研究专题系列 一 （一、宏观经济与地缘变化） 国泰海通证券政策和产业研究院 国别研究负责人 陈熙淼 国泰海通证券政策和产业研究院 院长助理 汪立亭 全球地缘格局和大国博弈背景下，中欧关系与经贸投资往来同步面临深刻挑战与机遇。本篇报告作 为国别研究之欧洲研究系列专题一，期望从经济、地缘、投资、金融等视角深度剖析和解读，如何 在当下多边主义时代看待欧洲投资机会，并为中国企业赴欧洲出海投资提供更多维度的分析视角。 欧洲经济形势，或已迈过近年低点。 2025 年一季度至今，欧洲地区工业生产活动已从低位逐步回 升，但消费信心仍低迷。 一季度受美国加征关税政策、德法国内政治局势变化、俄乌战争谈判再现 波折等影响，欧盟制造业产能利用率一度触及 2021 年以来的最低点，但进入二季度，包括特朗普关 税政策等在内各项因素缓和，欧洲产能利用率好转， 4 月制造业 PMI 逆势回升。就业方面，欧元区 劳动力市场表现稳定， 4 月失业率维持在 2000 年以来历史低位。通胀方面， 2025 年欧洲通胀率整 体可控，全年通胀有望回归 2% 目标，并为后续欧洲央行降息提供空间。对外贸易方面，一季度欧 ...

Group 1 - The global financial system is at a critical turning point, necessitating reforms to the Bretton Woods framework due to changes in the international economic structure and the rise of emerging economies like China, Brazil, and South Africa [2][3][6] - Emerging economies express dissatisfaction with their lack of representation in existing international financial institutions, prompting calls for a rebalancing of the Bretton Woods system to ensure broader representation [3][6] - China is increasingly seen as a key player in global financial stability, with initiatives like the Asian Infrastructure Investment Bank and the BRICS New Development Bank reflecting its growing influence [6][9] Group 2 - The current global economic landscape is characterized by multiple crises, including the pandemic, wars, and trade tensions, leading to rising inflation and necessitating a reevaluation of economic strategies [9][11] - The U.S. is perceived as attempting to rebalance the global economy, which could have profound implications for the dollar, yuan, and U.S.-China relations [8][9] - The need for a new set of rules in a multipolar world is emphasized, as the existing international order is being challenged by the U.S.'s shift from a rule-maker to a disruptor [7][12] Group 3 - The European perspective highlights the need to restore industrial competitiveness in light of the U.S.'s current behavior, which poses challenges to Europe's stability and reliance on American leadership post-World War II [12][13] - The shift in U.S. policy raises questions for Europe regarding trust in the U.S. as a stable partner and the necessity for Europe to invest in strategic autonomy [12][13] - The historical context of peace and prosperity in Europe is being threatened by current geopolitical tensions, necessitating a reconsideration of defense spending and identity [13]

Group 1 - The Trump administration has reached a "trade truce" with China unexpectedly quickly, contrasting with the slow negotiations with traditional allies [1] - The U.S. has proposed tariffs on Chinese goods as a condition for trade agreements with other countries, indicating a hardline stance in negotiations [4] - The European Union initially sought to cooperate with the U.S. on addressing challenges from China but has since adopted a more confrontational approach due to perceived unfair treatment [3][6] Group 2 - The U.S. trade protectionism is seen as isolating the country from global trade, failing to bring back capital and manufacturing, and not achieving consensus on isolating China [8] - The EU recognizes the importance of the Chinese market for its exports and is cautious about aligning with U.S. policies that could provoke retaliation from China [6] - The recent negotiations have not yielded significant breakthroughs, with only the U.K. successfully reaching a trade agreement with the U.S. [4]

Core Points - The core argument of the articles revolves around the recent confrontation between China and the United States at the WTO meeting in Geneva, highlighting China's stance against the U.S.'s unilateral trade policies and the support it received from 47 countries for multilateralism [1][3][5]. Group 1: China's Position - China submitted a written proposal emphasizing that the U.S.'s "reciprocal tariff" policy violates WTO rules and harms developing countries' interests, potentially destabilizing the global trade system [1][3]. - The Chinese delegation articulated the need for a stable, rule-based international economic order, advocating for transparency and predictability in trade policies to avoid unnecessary market disruptions [5][7]. - China proposed three main directions: prioritizing stability, focusing on development, and pushing for reform within the WTO to address outdated rules and new challenges [5][7]. Group 2: International Support and Reactions - A total of 47 countries supported China's and other nations' joint statement on maintaining the multilateral trade system, indicating a collective response to the challenges posed by unilateral actions [3][7]. - Countries like Brazil, Russia, and Pakistan expressed concerns over unilateralism and emphasized the need to strengthen the authority of WTO rules [3][5]. - The EU and Japan have also criticized U.S. policies, indicating a growing discontent among traditional allies regarding America's approach to trade [3][5]. Group 3: Challenges Ahead - Despite the consensus achieved at the Geneva meeting, WTO reform faces significant challenges, particularly due to the U.S.'s obstruction of the appellate body and the divergent interests of member countries on new issues [7]. - The EU highlighted the costs associated with the current chaotic global tariff system, underscoring the urgency for reform to prevent the multilateral trade system from becoming ineffective [7].

文 ： 华创证券研究所副所长 、首席宏观分析师 张瑜（执业证号：S0360518090001） 联系人： 陆银波（15210860866） 袁玲玲（微信 Yuen43） 报告摘要 近一周政策出台不多，主要关注以下内容： （一）外交：强化与欧洲、东盟国家联络 。 1 ） 5 月 20 日， 中国与东盟十国全面完成中国 - 东盟 自贸区 3.0 版谈判。 2 ） 5 月 22 日 -23 日 ，总书记先后同法国总统马克龙、德国总理默茨通电 话。在与法国总统通电话时，总书记指出，"维护国际贸易规则和世界经济秩序，践行真正的多边主 义。国际形势越是复杂，中法越要作出正确战略抉择"。 3 ） 5 月 25 日 ， 总理同印度尼西亚总统普 拉博沃会谈，"中方愿同印尼加强发展战略对接，深化高质量共建'一带一路'合作"，"坚持多边主义和 自由贸易，推动平等有序的世界多极化、普惠包容的经济全球化"。 4 ） 5 月 26 日 ， 总理将出席在 马来西亚吉隆坡举行的东盟 - 中国 - 海合会峰会。 （二）财政及项目进度。 1 ）发改委 4 月审批项目加速 。据 5 月 20 日发改委例行新闻发布会， 4 月份，发改委共审批固定资 ...

此外默茨表示，美国科技公司在欧盟享有有利的税收环境，但这种情况不一定会持续下去，欧盟不希望与美国陷入关税战升级的情况，欧美双方需共同解决 经贸冲突。 德国总理默茨。图片来源：视觉中国 每经编辑｜毕陆名 据央视新闻27日报道，当地时间26日，德国总理默茨表示，德国和其他欧盟国家不希望关税争端升级。从德国的角度看，加征关税会损害德国的利益，如果 欧美谈判无法达成一致，德国没有选择，德国将会对美国关税政策进行反击。 现在的欧美谈判正在努力避免局势升级，德国也希望避免关税战这种情况的出现。默茨还称，德国需要为欧盟与美国谈判的失败以及其他任何情况做好准 备。 据新华社26日报道，美国总统特朗普25日说，在与欧盟委员会主席冯德莱恩通电话后，他同意将对欧盟征收50%关税的起征时间从6月1日延至7月9日。 特朗普当天在新泽西州莫里斯顿登上总统专机前告诉媒体记者，冯德莱恩和他通了电话，希望推迟对欧盟征收50%关税的起征时间，以"认真推进"与美方的 谈判。据美国有线电视新闻网等媒体报道，特朗普对记者说，冯德莱恩在通话中告诉他："我们将迅速聚在一起，看看是否能解决问题。"他在与冯德莱恩进 行"非常愉快的通话"后作出延期决定。 冯德 ...