封关运作后，海南需以负面清单制度为核心，推动服务贸易制度型开放，对接国际高标准规则，打造制度创新的"压力测试场" 文 | 赵晋平 中国服务贸易协会副会长，国务院发展研究中心对外经济研究部原部长、研究员 本文围绕海南自由贸易港封关运作背景下的服务贸易开放发展路径展开系统分析。文章首先梳理了全球服务贸易的发展趋势与中国在全球服务贸易中的地 位与不足，指出中国服务贸易存在逆差大、比重小、经济依存度低等问题。随后，聚焦海南自贸港在封关运作后的制度优势与发展机遇，特别是在供应链 服务、离岸贸易、数字服务等新兴业态方面的潜力。文章提出，海南应通过制度型开放、规制改革、负面清单压缩、数字贸易拓展等多方面举措，打造服 务贸易自由便利制度体系，建设成为中国对接CPTPP（全面与进步跨太平洋伙伴关系协定）等高标准经贸规则的"压力测试场"。 最后，提出持续推进制度型开放、深化规制改革、加强政策协同与国际合作等六大政策着力点，以培育海南服务贸易新优势，助力其成为具有国际影响力 的自由贸易港。 2024年12月17日，习近平总书记在海南三亚听取海南省委和省政府工作汇报后发表了重要讲话。他强调要扎实推进重点领域改革，着眼全方位实施自由贸 ...

Core Insights - China has maintained its position as the world's second-largest importer for 16 consecutive years, driven by a population of over 1.4 billion and more than 400 million middle-income individuals, resulting in an annual import volume exceeding 20 trillion yuan [1][8]. Group 1: Trade and Economic Scale - China is the world's largest goods trader, holding this position for eight consecutive years and serving as a major trading partner for over 150 countries and regions [2]. - The service trade scale is projected to exceed 1 trillion USD for the first time in 2024, ranking second globally [3]. - China's cross-border e-commerce is the largest in the world, with total import and export volume expected to reach 2.71 trillion yuan in 2024 [4]. - By the end of 2024, China is expected to attract over 100 billion USD in foreign investment for 15 consecutive years, maintaining its status as the largest recipient of foreign investment among developing economies [5]. Group 2: Market Openness and Connectivity - The national negative list for foreign investment has been reduced to 29 items, with the manufacturing sector achieving a complete clearance [6]. - Shenzhen is emerging as an "international hub," enhancing its connectivity with the world through busy ports and efficient logistics, with significant growth in international shipping routes [7]. - In the first ten months, Shenzhen's import of mechanical and electrical products reached 1.2 trillion yuan, an increase of 8.5%, while agricultural product imports grew by 10% to 82.26 billion yuan [7]. Group 3: Tourism and Consumer Trends - The recent implementation of a 240-hour visa-free transit policy at several ports in Guangdong has significantly increased foreign tourist arrivals, with over 1.2 million foreign travelers processed this year, marking a 100% increase in visa-free entries [9]. - The integration of "China travel" and "China shopping" has become a popular topic on social media, with foreign tourists increasingly purchasing Chinese electronic products [9]. Group 4: Expert Insights on Market Potential - Experts emphasize that China's import demand accounts for 10.5% of global demand, providing opportunities for countries to leverage their advantages in participating in China's economic development [10]. - The expansion of green trade, particularly in new energy vehicles and solar products, has significantly reduced global costs for wind and solar power generation, enhancing the world's capacity to address climate change [10]. - The "14th Five-Year Plan" suggests actively expanding autonomous openness and aligning with international high-standard trade rules, with institutional openness being a key focus [10].

第十五届全国运动会正在粤港澳三地火热举行。在横琴举行的网球比赛中，香港队时隔24年再夺全运会 奖牌。"这里是我们的半个主场。在粤港澳大湾区，我们就像一家人。"香港网球队教练刘进鉴说。 党的十八大以来，习近平总书记高度重视广东、香港、澳门三地融合发展，赋予粤港澳大湾区"一点两 地"全新定位。牢记总书记嘱托，粤港澳三地着力深化合作，加快推动各类要素连通衔接，粤港澳大湾 区区域协调发展不断迈上新台阶。 建设自贸试验区是习近平总书记、党中央在新时代推进改革开放的重要战略举措。总书记5次亲临横 琴、3次亲临前海，对广东自贸试验区建设寄予厚望。11月7日至8日，习近平总书记在广东视察时强 调，要稳步扩大制度型开放，深入实施自贸试验区提升战略，深度融入共建"一带一路"。 殷切嘱托，指航引路。挂牌10年来，广东自贸试验区全力推动高水平开放、高质量发展。2024年，广东 自贸试验区以全省万分之六的面积，贡献了全省20%的外资、8%的外贸和10%的税收收入，三大片区实 现从"蕉林绿野、城市末梢"向"现代新城、战略支点"蝶变，成为全国改革创新"试验田"、对外开放"新 高地"。 搭建中葡经贸"数字通道" 这是一通跨越大洋的视频实时通 ...

经认定的海南自产货物企业(货物)，是指依据《海南自由贸易港加工增值免关税政策项下海南自产 货物认定管理暂行办法》(以下简称《认定办法》)，予以认定的在海南自由贸易港生产加工并被加工增 值备案企业采购使用、纳入增值成分的货物。 "我们正加强跟踪服务，指导海南自由贸易港自产货物企业做好与加工增值备案企业的购销、测算 等工作，全力支持企业拓展更多的加工增值备案企业客户。"省商务厅自由贸易港改革发展处相关负责 人说。 海南日报全媒体记者 罗霞 最近，省商务厅发布全省首批纳入《经认定的海南自产货物企业(货物)名录》的企业(货物)名单， 澄迈、保亭、乐东、东方等市县的4家企业共5种货物入选。这是为海南自由贸易港封关运作后企业适用 政策提前做准备，以便企业第一时间享惠。 此前，在《认定办法》制定过程中，省商务厅自由贸易港改革发展处深入调研岛内需求，提出管理 框架，在一个月内高效完成了初稿的起草。 在海南自贸港建设中，省商务厅自由贸易港改革发展处全力推动自贸港核心政策制定和优化，推进 政策压力测试和实战化演练，统筹对接高标准经贸规则先行先试政策措施落地见效，攻坚克难，勇于开 拓，努力为确保自贸港顺利封关运作作贡献。日前，该处 ...

Macro Research - The "14th Five-Year Plan" emphasizes a strategic upgrade in high-level opening-up, transitioning from factor-driven to rule-based openness, enhancing China's voice and rule-making power in global economic governance [1] - Key focus areas during the "14th Five-Year" period include steady progress in RMB internationalization, diverse regional opening layouts, increased openness in the service sector, deepening institutional opening, and differentiated cooperation in multilateral trade [1] Company Research Zhejiang Dingli (603338.SH) - Zhejiang Dingli achieved operating revenue of 6.67 billion yuan in Q1-Q3 2025, a year-on-year increase of 8.8%, and a net profit attributable to shareholders of 1.59 billion yuan, up 9.2% year-on-year [2] - The company maintains profit forecasts for 2025-2027 at 2.07 billion, 2.41 billion, and 2.75 billion yuan, with corresponding EPS of 4.08, 4.75, and 5.44 yuan [2] - The high-altitude machinery market has significant growth potential, with a recovery in overseas shipments expected to boost profit margins [2] Xunwei Communication (300136.SZ) - Xunwei Communication has entered the North American AI hardware supply chain, maintaining a leading position in commercial satellites [3] - The company is optimistic about its competitive edge in mature businesses and the growth potential in satellite communication, AI hardware, LCP, BTB, and automotive connectivity [3] - Current market valuation corresponds to PE ratios of 38X, 34X, and 30X for 2025-2027, maintaining a "buy" rating [3] Baidu Group-SW (9888.HK) - Baidu's AI ecosystem value is expected to be re-evaluated, with AI native advertising enhancing traditional search ad monetization [4] - The company has a healthy net cash flow, and its "Luo Bo Kuaipao" business model has been validated with accelerating order growth [4] - Profit forecasts for 2025-2027 are set at 18.2 billion, 20.5 billion, and 23 billion yuan, with current PE ratios of 15x, 14x, and 12x [4] Xiaomi Group (1810.HK) - Xiaomi's automotive business achieved its first quarterly profit, but the mobile and automotive gross margins may face pressure due to rising upstream costs and intensified market competition [5] - The company maintains a Non-IFRS net profit forecast of 42.6 billion yuan for 2025, while lowering 2026-2027 forecasts to 43.8 billion and 51 billion yuan [5] - Xiaomi's long-term growth logic is supported by its multi-device strategy in the AI era, high-end positioning, and overseas expansion [5]

原标题：加快完善高水平对外开放体制机制 开放是中国式现代化的鲜明标识。党的十八大以来，以习近平同志为核心的党中央坚持对外开放的 基本国策，推动形成更大范围、更宽领域、更深层次对外开放格局。随着全球经贸格局深刻调整、外部 环境不确定性进一步上升，世界经济发展面临诸多挑战。习近平总书记科学把握世界大势，多次强调坚 定不移推进高水平对外开放。党的二十届四中全会通过的《中共中央关于制定国民经济和社会发展第十 五个五年规划的建议》把"高水平对外开放体制机制更加健全"列入"十五五"时期经济社会发展的主要目 标，对"扩大高水平对外开放，开创合作共赢新局面"作出战略部署。这些重要论述和部署要求，既是立 足当下应对外部风险挑战的主动作为，又是着眼长远、引领全球合作的战略谋划，为进一步全面深化改 革、推进高水平对外开放指明了方向。 深刻领会重要意义 从改革开放初期设立经济特区，到加入世界贸易组织、推动共建"一带一路"和推进自贸试验区建 设，我国经济在开放中实现历史性跨越，创造了举世瞩目的发展奇迹，开放型经济新体制建设取得显著 进展。 历史和实践充分证明：开放带来进步，封闭必然落后。改革开放以来，我国经济持续快速发展正是 在不断扩 ...

Core Viewpoint - The article emphasizes the importance of high-level opening-up as a distinctive feature of Chinese modernization, highlighting the strategic deployment for expanding cooperation and achieving win-win outcomes in the context of global economic challenges [1][2][3]. Summary by Sections Historical Context and Achievements - Since the initiation of reform and opening-up, China has achieved significant economic growth through expanding foreign trade and investment, with a notable increase in imports and exports in the first half of the year [2]. - In 2024, the Central Economic Work Conference reiterated the need to stabilize foreign trade and investment while expanding high-level opening-up [2]. Strategic Importance of High-Level Opening-Up - High-level opening-up is seen as a necessary requirement for advancing Chinese-style modernization and enhancing international cooperation [3]. - The article discusses the challenges posed by unilateralism and protectionism globally, emphasizing the need for China to expand its openness to mitigate risks and enhance competitiveness [3]. Institutional and Regulatory Framework - The focus is on establishing a system of institutional opening-up, which includes aligning domestic regulations with international standards in areas such as rules, regulations, management, and standards [4][5]. - The article highlights the need for reforms in key areas such as digital trade, green economy, and intellectual property to enhance China's participation in international rule-making [5][6]. Expanding Open Fields - The article notes that while China's opening-up has progressed, there is still a need to broaden the scope and depth of openness, particularly in service sectors and emerging fields like digital and green economies [6][8]. - It emphasizes the importance of high-quality platforms for international cooperation, such as free trade zones, to facilitate deeper engagement with global markets [8][9]. Enhancing International Cooperation Platforms - The development of high-energy open cooperation platforms is crucial for integrating international high-standard economic rules and enhancing China's global influence [9][10]. - The article discusses the importance of aligning domestic platforms with international standards to improve competitiveness and resilience in global supply chains [10][11]. Balancing Openness and Security - The article stresses the need to balance openness with security, particularly in areas such as financial stability, supply chain security, and data protection [12][13]. - It highlights the importance of establishing a comprehensive security framework to safeguard against external risks while promoting economic growth [12][17]. Pathways and Measures for Improvement - The article outlines actionable pathways for enhancing the quality of institutional supply and optimizing the business environment to attract foreign investment [15][16]. - It emphasizes the need for continuous innovation in trade and investment practices to expand international market opportunities and improve the overall economic landscape [16][17].

会议听取了我市深化与新加坡合作和扩大高水平对外开放工作情况汇报。会议指出，要深化中新合 作，用好各类机制和平台，加快建设开放创新的世界一流高科技园区。要稳步扩大制度型开放，争取更 多先行先试政策，深化开放创新综合试验，推动服务业扩大开放综合试点，以开放促改革促发展。要对 接国际高标准经贸规则，不断提升贸易投资自由化便利化水平，塑造吸引外资新优势。 市领导顾海东、王飏、沈觅、施嘉泓，市政府秘书长徐本参加。 昨日（11月19日），市委书记范波主持召开研究当前经济社会发展重点事项专题会。他强调，要深 入学习贯彻党的二十届四中全会精神，深刻领会习近平总书记对江苏、苏州工作重要讲话重要指示精 神，全面落实党中央相关部署及省委工作要求，不断提高工作的前瞻性、计划性、确定性、协同性，以 时不我待的紧迫感，抢抓重大机遇，深化改革创新，坚定不移推动高质量发展，为全国全省发展大局多 作贡献。市委副书记、市长吴庆文出席。 会议学习了《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》，研究我市贯彻落 实举措。会议指出，要全面精准把握党中央决策意图，认真领会"十五五"时期的阶段性要求，结合实际 深化研究，突出重点系统谋划，攻 ...

乌昌海关党委委员、副关长马小龙回答记者提问时表示，在贸易通关便利化方面乌昌海关推动"公路口岸+属地直通"模式，为企业每车节省成本约3000元， 物流时间压缩3至5天，通关时长减少近80%；实施"智慧铁路口岸+属地快速通关"改革，进口货物通关时间从3天压缩至16小时内；推广远程视频核查试点， 降低企业迎检成本；落地进口铜精矿"口岸+卸货地"联合监管模式，通关时间压缩至3日内，物流成本降低60%；推进"批次检验""1+N远程查检"模式，出口 危化品验放时间压缩70%以上，农产品查检时间压至30分钟以内。 乌鲁木齐国际陆港区与临空经济区党工委委员、管委会副主任王英表示，乌鲁木齐片区依托陆港空港联动发展区位优势，加强陆港型国家物流枢纽建设，积 极推动空港型国家物流枢纽建设。陆港方面，中欧班列集结中心多式联运集货区、陆港国际客运站投运，累计开行中欧（中亚）班列约9900余列，发运"天 山号"品牌班列1200余列；揭牌TIR集结中心，班列时效提升20%，每箱节省约1700元。空港方面，开通国际货运航线36条、客运航线28条，覆盖多国城市； 落地全疆首单飞机保税航油加注业务，累计加注13.8万吨，节约成本约1亿元；开展飞机 ...

Core Viewpoint - Multiple foreign securities and fund companies have released outlook reports for 2026, indicating that the current Chinese stock market has medium to long-term allocation value driven by ample liquidity and improving profitability [1] Group 1: Market Outlook - UBS sets the MSCI China Index target for the end of 2026 at 100, representing a 14% upside from current levels [3] - Morgan Stanley raises its target for the CSI 300 Index to 4840 points by December 2026, citing moderate corporate profit growth and a more favorable external environment [3] Group 2: Investment Strategies - Foreign institutions favor sectors such as technology, internet, and high-dividend assets [4] - UBS is optimistic about technology stocks, internet stocks, and the brokerage sector, while Morgan Stanley recommends a "barbell strategy" focusing on high-quality internet and technology leaders alongside some high-dividend assets for stable cash returns [4] - Goldman Sachs has identified 50 stocks across 21 sub-industries, including 30 A-shares and 20 overseas-listed Chinese stocks, expected to outperform the market in the future [4] Group 3: Cross-Border Investment Facilitation - Foreign institutions express confidence in China's capital market due to a series of landmark opening measures aimed at enhancing cross-border investment and financing convenience [5] - The recent approval of Huafu International Asset Management Co., Ltd. as a qualified foreign investor by the China Securities Regulatory Commission (CSRC) exemplifies the expedited approval process [6] - The CSRC has introduced an optimization plan for the qualified foreign investor system, aiming to streamline the investment pre-approval process and enhance efficiency in various related procedures [6][7]