出海已成为企业突破增长天花板、构建全球竞争力的必由之路，也成为当下资本市场与产业界共同聚焦的核心热点。 那么，中国企业出海的背后驱动因素有哪些，面临怎样的全球化机遇，在深化全球化布局的过程中面临哪些挑战，又该如何化解风险？ 12月2日，在第一财经联合安永（中国）、矽亚资产管理等专业机构举办的"未来20·2025A股上市公司成长力年会"上，安永大中华区经济咨询服务合伙人余 泠担任主持人，与华明装备（002270.SZ）董事长肖毅，宝光股份（600379.SH）副董事长原瑞涛，海泰新光（688677.SH）副总经理、董秘、财务总监汪方 华，花旗银行（中国）有限公司副行长、商业银行部负责人、董事总经理林海四位嘉宾就上述热点问题展开了深度探讨。 "服务、配件本地化后，就把我们服务和生态根植到客户的心里了，这样才会有生命力。"肖毅说，"走出去"后，要"走进去"，并扎根下去，只有这样才能在 当地真正形成生态圈。 林海也观察到，中国企业布局全球化，已明显从跑马圈地进入到如何扎根共生的阶段，不再是简单把货卖出去、把厂开出去，而是要在不同的土壤里，做品 牌、建立信任和构建生态。 多重因素驱动企业出海 企业出海的核心驱动因素因主 ...

"过去中国药企'出海'，多凭借成本优势参与低端市场竞争。现在，国际市场更看重企业是否具备国际 化质量体系、持续交付能力和全流程服务能力。质量体系和合规能力是进入全球市场的'硬门槛'。"宣 泰医药（688247.SH）创始人、董事方云日前做客《沪市汇·硬科硬客》第二季第6期节目"供应链'再出 海'"时如是说。 方云表示，在全球化局部加速与国际竞争日趋激烈的当下，供应链已从企业运营的支撑环节升级为核心 竞争力的关键载体。对于受到严格监管的医药行业而言，供应链的稳定性、合规性与全球化适配能力， 直接关系到患者用药可及性与企业生存的命脉。 作为科创板上市的医药企业，宣泰医药成立之初便确定了国际化发展路径，按国际标准建设研发与生产 体系，并通过多方面设计和不断完善，构建起极具强韧性的供应链，成为中国医药产业供应链"再出 海"的鲜活样本。 宣泰医药创始人、董事方云 战略迭代：从产品"出海"到能力输出的本质跨越 中国企业的"出海"历程，正经历着从规模扩张到价值深耕的深刻变革。 在方云看来，对制药体系而言，"走出去"是一个必需的环节。过去，医药行业"出海"聚焦产品出口。而 当前，医药行业"再出海"早已完成了两大核心转变，即从 ...

近日，首届福布斯中国海平线峰会在上海举行。本次峰会以中国企业出海实践为核心，汇聚各界力量共 同探讨前沿技术驱动下的出海机遇与挑战，以及协同合作新生态的构建路径。 峰会现场同步揭晓福布斯出海全球化系列评选结果，全球化社交娱乐企业米可世界凭借在出海领域的长 期深耕与扎实布局，成功入选 "福布斯出海全球化领军品牌"。 2025 年前三季度，米可世界旗下 MICO、YoHo、SUGO、TopTop 等核心产品均实现稳健增长。数据平 台"点点数据"发布的中东地区榜单显示，2025 年 2 月，TopTop 进入 Google Play 游戏应用收入榜前 10，SUGO 进入 App Store 和 Google Play 双端非游戏应用收入榜前 10。 福布斯中国指出，米可世界等品牌让世界见证了东方智慧与全球视野的完美融合，此次出海全球化系列 评选不仅是对企业跨文化商业实践中卓越成就的肯定，更清晰勾勒出中国全球化力量的全新版图。 作为领先的全球化社交娱乐公司，自 2014 年成立以来，米可世界积极拓展全球市场，持续深耕中东北 非、东南亚、日韩等核心区域，业务覆盖全球 150 个国家和地区，致力于满足全球用户的多元化社交 ...

Core Insights - FTSE Russell announced changes to several indices, including the FTSE China A50 Index, which will take effect after the market closes on December 19, 2025 [1] - The newly included stocks in the FTSE China A50 Index are Luoyang Molybdenum and Sungrow Power Supply, while Jiangsu Bank and SF Holding are removed [1] - Luoyang Molybdenum reported a net profit of 5.608 billion yuan for Q3, a 96.4% year-on-year increase, driven by strong copper production and sales [1] - Sungrow Power Supply has seen its stock price increase by over 140% this year, while Luoyang Molybdenum's stock price has risen nearly 165% [1] Index Changes - FTSE Russell's selection criteria include professional analysis, field research, and past profitability, indicating that included companies are top performers in the A-share market [4] - The FTSE China A50 Index consists of the 50 largest stocks by market capitalization on the Shanghai and Shenzhen stock exchanges, serving as a key indicator for international investors [4] - The list of alternative stocks is effective immediately and will be used if any current constituents are removed before the next quarterly review [4] Market Outlook - Multiple foreign institutions are optimistic about the A-share market's performance in the coming year, with UBS forecasting an increase in overall A-share profit growth from 6% this year to 8% in 2026 [6][7] - Key investment themes for 2026 include technological self-reliance and consumer spending, with a focus on high-potential sectors amid ongoing structural changes in the economy [7] - Foreign capital inflow into the Chinese stock market reached $50.6 billion in the first ten months of 2025, significantly surpassing the total of $11.4 billion for the entire year of 2024 [7]

Core Insights - The global economy is undergoing a dual transformation of technology and industry, with active technological innovation reshaping the competitive landscape. Small and medium-sized listed companies are seen as vital for industrial upgrades and embodying the innovative genes of capital markets serving the real economy [1][4]. Group 1: Event Overview - The "Future 20 · 2025 A-share Listed Companies Growth Power Annual Conference" was successfully held in Shanghai, focusing on the growth potential of small and medium-sized listed companies in China [1][3]. - The event was co-hosted by prominent organizations including Yicai, Ernst & Young (China), and others, emphasizing data-driven value measurement and the selection of 20 benchmark enterprises with the highest growth potential based on a proprietary assessment model [3]. Group 2: Government and Economic Insights - The Deputy Mayor of Jiading District highlighted that small and medium-sized enterprises are crucial for economic resilience and a source of vitality for national technological innovation. Jiading aims to enhance its capacity for technological innovation and industrial integration [4][8]. - The district is focusing on key industries such as intelligent connected vehicles, integrated circuits, and biomedicine, while also exploring emerging fields like quantum technology and new energy [8]. Group 3: Industry Trends and Future Outlook - The conference featured discussions on China's high-quality development path, emphasizing the importance of innovation-driven growth and the need for enterprises to balance global expansion with domestic transformation [11][13]. - Predictions indicate a new golden growth period for the economy from 2026 to 2028, with a focus on establishing foundational cash flows and prioritizing high-barrier industries [18]. Group 4: Investment and Market Dynamics - The event underscored the need for capital markets to support the technological and innovation-driven orientation of Chinese industries, with a significant increase in the number of products where China holds a leading global position [13]. - The "Future 20" initiative aims to guide capital towards high-quality enterprises characterized by high technological content and growth potential, fostering a sustainable investment ecosystem [32][33]. Group 5: Selected Companies - The conference announced the list of 20 companies recognized for their growth potential, including Huaming Equipment, Jack Technology, and others, reflecting their past achievements and future growth expectations [29].

外资持续看好中国资产。 瑞银全球策略团队认为，2026年全球科技股有望进一步上行。此外，近期大型科技股的交易占比已回落至今年均 值水平以下，且融资规模有所下滑，显示科技板块交易拥挤的担忧已得到缓解。 在此基础上，孟磊认为，2026年值得关注的投资主题包括：科技自立自强；全年来看企业盈利提速将逐步带动居 民收入和销售费用提升，下半年可择时布局消费；在"反内卷"持续推进的背景下，优选高潜力板块，把握中国企 业出海与提升全球竞争力的机遇。 在风格配置方面，孟磊认为由于市场中期展望向好，成长风格可能跑赢价值风格。随着"反内卷"的持续推进推动 PPI跌幅收窄且工业企业利润提速，周期风格有望跑赢防御风格。 在大小盘方面，孟磊预计，两者会在2026年维持一个相对均衡的态势。市场成交额进一步大幅跃升的可能性较 低，因此小盘股难以获得超额流动性进一步的加持，而ETF大规模发展也有利于市值较大的行业龙头。在行业偏 好方面，在战术上看好受益于中国创新火花、充足市场流动性以及PPI跌幅收窄的行业。 近日，瑞银证券中国股票策略分析师孟磊发表中国股票策略观点指出，2026年全部A股盈利增速有望从今年的6% 进一步升至8%。此前，已有摩根 ...

此次会议还审议通过了6家单位的加入申请。 委员会是由商务部投资促进事务局牵头成立的非营利性工作机制，旨在服务国家对外开放战略，助力中 国企业跨境投资和参与全球产业链供应链合作、提升国际竞争力。委员会成员单位包括地方外经协会、 跨境投资综合服务平台、专业服务机构、重点企业和境外产业园区等。 会议审议通过了委员会2026年工作计划。工作计划包括编发《境外产业园区发展报告》、开展境外产业 园区赋能合作品牌活动、举办2026跨境投资高质量发展论坛、编发企业出海公共资讯产品、共建境内出 海服务平台和海外孵化中心以及举办企业出海能力建设培训等。俞子荣副局长强调，委员会2026年工作 应紧紧围绕国家关于企业出海各项政策展开，抓落实、见成效，切实推进产业链供应链高质量有序走出 去，着力打造"中国投资"的品牌影响力。 俞子荣副局长还就境外产业园区赋能合作品牌活动计划进行重点介绍。该活动针对如何解决境外产业园 区发展不均衡、招商效率不高、运营能力参差不齐等问题，提出应从园区筛选、政策制订、政策转化和 金融赋能四个环节入手，发挥各自优势，组成"四位一体"的赋能境外产业园区战略合作团队，探索"政 策协同-产业集聚-金融赋能-可持续发 ...

Core Insights - The event "Playing with Social Media to Expand Global Markets" was successfully held in Guangzhou, focusing on how Chinese companies can leverage overseas media for brand breakthroughs and global growth [1][4][16] Group 1: Opportunities and Challenges - The current "dual circulation" strategy provides significant opportunities for Chinese companies to expand internationally, making it a trend for businesses to enter global markets [4] - The process of going global is filled with both opportunities and risks, emphasizing the importance of industry communication and experience sharing to navigate challenges [4][5] Group 2: Strategic Insights from Experts - The transition from "going out" to "going in" is essential for Chinese companies, highlighting the need for localization rather than mere output [5] - The next 30 years are deemed critical for the globalization of Chinese enterprises, necessitating the construction of a new ecosystem and value chain [5] Group 3: Brand Development and Marketing Strategies - The COO of 易海创腾 emphasized the evolution of Chinese brands from cost-driven OEM to value-driven OBM, indicating a shift in competitive focus from hard power to soft power [7] - A new marketing system termed "new four-wheel drive" is proposed to help companies build a long-term global communication system, moving from functional selling points to value expression [7] Group 4: Digital Platforms and Tools - LinkedIn is highlighted as a key platform for B2B customer acquisition, with over 1.3 billion professional users, serving as a critical starting point for Chinese companies to build international credibility [9] - The use of LinkedIn Sales Navigator is recommended for precise targeting of global decision-makers, enhancing sales efficiency through AI-driven insights [9] Group 5: Content and Community Engagement - Brands are encouraged to utilize diverse content forms on YouTube to build a community ecosystem, focusing on subscriber growth and audience engagement [10] - A three-step strategy for community marketing on YouTube is proposed, emphasizing content asset creation, account management, and effective conversion through collaborations and advertising [10] Group 6: Financial Support for Global Expansion - The complexity of cross-border funding and stricter regulatory requirements necessitate robust financial management as a foundation for overseas expansion [15] - Financial institutions play a crucial role in supporting enterprises in navigating the global market [15] Group 7: Comprehensive Solutions for Global Market Entry - The event showcased a systematic solution covering platform strategies, content creation, inquiry conversion, and cross-border financial security, reflecting a commitment to building a new ecosystem for social media-driven global expansion [16] - 易海创腾 has successfully empowered over 3,000 Chinese enterprises across various industries, aiding them in establishing unique brand identities and achieving sustainable growth in overseas markets [16]

矽亚资产管理CEO陈加凤围绕"基业长青、产业传承与全球资产配置"发表主题演讲。陈加凤指出，家族传承是一项任重道远的事业，成功的传承绝非简单的 财富转移。矽亚在全球提出了家族传承必须以文化传承为灵魂内核，以产业传承为根基，并以资本传承作为保障。而成功的传承需提前十年以上系统规划， 并需重视文化、产业与资本三者的协同。 近一年来，虹桥国际中央商务区共引进和培育市级认定总部企业56家（目前累计283家），年度营收规模已达数千亿元。 2025年11月28日，《论道大虹桥 •2025百家上市公司闭门会》于上海虹桥国际中央商务区举行。本次闭门会在上海虹桥国际中央商务区管委会、闵行区人民 政府指导下，由矽亚资产管理承办，安永中国与第一财经作为长期合作伙伴共同参与，南虹桥集团担任战略合作方。 会上，虹桥国际中央商务区管委会党组书记、常务副主任孔福安介绍了商务区的基本情况。他指出，虹桥国际中央商务区作为承载多重国家战略的改革开放 标志性区域，始终立足国家战略，服务国家需要，依托长三角经济地理中心的区位优势，以及开放、活力、宜居三大特点，正强化对内对外双向"链接"的功 能，全力打造服务企业"走出去"先行区，构建企业出海总部集聚区 ...

Core Viewpoint - The conference held by Zhejiang Commercial Bank emphasizes the strategic importance of supporting Chinese enterprises in their overseas expansion amidst evolving global trade dynamics [1][3]. Group 1: Conference Overview - The "Embrace Going Global, Win-Win Intelligence" 2025 Autumn Strategy Conference took place in Chengdu on November 27-28, focusing on the opportunities and challenges faced by enterprises going global in the context of current trade fluctuations [1]. - The event gathered renowned economists, industry experts, and key clients involved in overseas expansion, providing a platform for discussing new pathways for international development [3]. Group 2: Expert Insights - Chief Economist of Changjiang Securities, Wu Ge, provided a systematic outlook on economic transformation and structural opportunities for 2026, offering theoretical guidance for enterprises navigating complex environments [3]. - A representative from Zhejiang Commercial Bank's International Business Department elaborated on managing exchange rate risks under the new global trade order, guiding enterprises in establishing a scientific framework for risk management [3]. - Experts from TC GROUP discussed investment policies, tax compliance, and localized operations in popular overseas markets, providing practical references for enterprises to expand steadily [3]. Group 3: Interactive Sessions - The conference included a roundtable discussion where Zhejiang Commercial Bank engaged with leading overseas enterprises and consulting representatives to explore new trends and solutions for going global, utilizing real case studies for deeper insights [3]. - The client salon focused on three main topics: exchange rate hedging, cross-border financing, and overseas expansion planning, facilitating precise connections and in-depth interactions between banks and enterprises [3]. Group 4: Service Commitment - Zhejiang Commercial Bank is committed to serving the real economy by continuously iterating its overseas product offerings and enhancing global service capabilities, ensuring that financial services reach enterprises directly [4]. - Since 2025, the bank has served nearly 24,000 overseas enterprises, leveraging its Free Trade Zone accounting unit and Hong Kong branch to create two major brands: "Zhejiang Silver Silk Road Finance" and "Zhejiang Silver Global Trading Treasure" [3].