中国的做法为整个世界注入了新的确定性。就在中美联合声明发布后，全球贸易乐观情绪弥漫，并再次 提振了投资者信心，美股三大指数、中国A股以及港股均录得不小涨幅。 不过，也需要承认的是，新的90天"休战期"并没有让人完全看到"终战"的曙光。事实上，当前中美两国 间贸易仍承受着关税高压，这使得相关企业不得不继续长期承担额外成本，同时也导致美国的消费者价 格指数持续攀升。但尽管如此，美国政府仍无意放弃将关税作为"战略竞争"工具，从而使得各类跨国经 贸活动长期处于风险之中，对供应链领域也造成了不小的压力。 图为中国国旗和美国国旗。图片来源：人民视觉 中美90天的经贸"休战"，能否最终走向"终战"？| 国际识局 近日，中美双方发布《中美斯德哥尔摩经贸会谈联合声明》，美方承诺自8月12日起继续暂停实施24% 的对等关税90天，中方自同日起继续暂停实施24%对美加征关税以及有关非关税反制措施90天。90天关 税"休战"让紧绷的世界经济松了一口气。 纵观谈判全程，尽管美方在会谈前后一直放出诸如可能征收三位数"二级关税"的"狠话"，但中方的战略 定力与建设性姿态主导着会谈全程。 换言之，中国的"底气"是此次中美关税"休战期"得以延 ...

Core Insights - China's visa-free policy continues to evolve, covering various scenarios such as tourism, trade, and transit, enhancing the country's institutional openness [1][2] - As of July 30, 2023, China has achieved comprehensive mutual visa exemption with 29 countries, unilaterally exempted visas for 46 countries, and implemented 240-hour transit visa exemptions for 55 countries [1] - The visa facilitation has significantly boosted inbound tourism, making it a key indicator of China's cultural soft power and international appeal [1][2] Group 1: Visa Policy Impact - The optimization of visa policies serves as a "trade accelerator," reducing barriers for cross-border business activities and enhancing efficiency in international trade [2] - Major exhibitions like the China International Import Expo have seen increased participation from global exhibitors, facilitating the entry of quality products into China [2] - The visa policies have created a platform for cultural exchange, allowing foreign visitors to experience authentic Chinese culture and daily life [2] Group 2: Future Directions - There is a need for continuous improvement in policy supply, encouraging local exploration of smart travel inspection and innovative entry facilitation measures [3] - The development of "tourism+" products is encouraged, integrating cultural elements with various forms of art and enhancing the tourism product system [3] - Optimizing the service environment is essential, including internationalization of key scenic spots and enhancing multilingual services to improve the overall tourist experience [3]

Core Viewpoint - The article emphasizes the importance of bilateral investment as a key strategy for enhancing China's industrial chain innovation capabilities and overall competitiveness in the context of global industrial competition and supply chain adjustments [1][2][3]. Group 1: Bilateral Investment and Innovation - Bilateral investment can facilitate technology transfer through intermediate products, allowing local downstream companies to innovate based on advanced technologies from foreign direct investment (FDI) enterprises [2]. - FDI enterprises often impose production standards on local suppliers, which encourages upstream companies in the host country to innovate to meet these standards [2]. - As the host country's innovation capacity improves, its scale of outward direct investment (ODI) will gradually expand, creating a reciprocal effect on technology and innovation [2][3]. Group 2: Competitive Dynamics and Market Integration - Bilateral investment generates competitive incentives among local companies, pushing them to innovate in order to meet the stringent requirements of FDI enterprises [3]. - Increased domestic competition and enhanced innovation capabilities lead companies to seek overseas opportunities through ODI, thereby integrating into global value chains [3]. - The article notes that the recent trends show a balanced growth in both FDI and ODI in China, which is crucial for attracting global resources and enhancing the domestic and international market linkage [3]. Group 3: Policy Recommendations for High-Quality Development - The article suggests promoting high-quality coordinated development of bilateral investment through institutional openness, aligning with international trade rules, and leveraging successful experiences from free trade zones [4]. - It advocates for differentiated industrial policies based on the characteristics of the industrial chain, including establishing support funds for technology-dependent industries and optimizing the structure of ODI [4]. - The article emphasizes the need to enhance the transmission mechanism between bilateral investment and industrial chain innovation through fiscal incentives and support for R&D initiatives [5][6].

Core Viewpoint - The article emphasizes the importance of bilateral investment as a key strategy for enhancing China's industrial chain innovation capabilities and overall competitiveness in the context of global supply chain adjustments and competition among major powers [1][3]. Group 1: Bilateral Investment and Innovation - Bilateral investment can lead to technology transfer effects through intermediate products, where foreign direct investment (FDI) firms provide advanced intermediate products that enhance innovation in local downstream companies [2]. - The competition for becoming suppliers to foreign direct investment firms drives local upstream companies to innovate in order to meet stringent production standards set by these firms [2][3]. - As local innovation capabilities improve, the scale of outward direct investment from these countries will gradually expand, creating a cycle of innovation and investment [2]. Group 2: Competitive Dynamics and Market Integration - Bilateral investment fosters competitive incentives among local companies, as they strive to meet the technological standards imposed by foreign firms, leading to increased domestic competition and innovation [3]. - The article notes that the recent trend shows a balanced growth in both foreign direct investment and outward direct investment from China, indicating a healthy investment environment [3]. Group 3: Policy Recommendations for High-Quality Development - The article suggests promoting high-quality bilateral investment through institutional openness, aligning with international trade rules, and leveraging successful experiences from free trade zones [4]. - It advocates for differentiated industrial policies based on the characteristics of various industrial chains, including the establishment of support funds for technology-dependent industries [4]. - The need to enhance the transmission mechanism between bilateral investment and industrial chain innovation is highlighted, including tax incentives and support for global R&D centers [5]. Group 4: Digital Transformation in Manufacturing - The article stresses the importance of accelerating the digital transformation of the manufacturing sector, proposing targeted support policies for different types of enterprises [5]. - It emphasizes the need for domestic substitution of digital products and services, encouraging companies to prioritize the use of local digital solutions [5].

Core Viewpoint - The Zhengzhou Commodity Exchange has successfully positioned itself as a key player in China's futures market opening process, establishing a unique "Zhengzhou Plan" that enhances China's influence in the global commodity pricing system [1] Group 1: Market Positioning and Strategy - The Zhengzhou Commodity Exchange strategically chose PTA and oilseed products as the initial focus for opening up due to China's dominant position in the global PTA production and consumption market, as well as its leadership in the vegetable oil import and consumption sectors [2] - Since the listing of PTA and oilseed futures, the market scale has steadily expanded, with positive external evaluations and deep participation from industry enterprises, laying a solid foundation for future openness [2] Group 2: Institutional Innovations - The "Zhengzhou Plan" has made breakthroughs by exploring an institutional opening path suitable for the local market, including optimizing delivery rules and increasing the variety of delivery methods to facilitate foreign enterprises' participation [3] - The Zhengzhou Commodity Exchange has actively promoted the listing of related futures and options in the polyester sector, modified delivery rules, and expanded the range of tradable products for qualified foreign investors [3] Group 3: Deepening International Cooperation - In recent years, the Zhengzhou Commodity Exchange has deepened its openness in oilseed products, including incorporating imported rapeseed meal into the delivery category, which has significantly stabilized the supply chain [4] - The exchange has also made regulatory adjustments to facilitate foreign traders' participation in specific products, enhancing risk management for import enterprises [4] Group 4: Global Trade and Strategic Impact - The "Zhengzhou Price" is expected to gain broader cross-border application as China deepens supply chain cooperation with countries involved in the Belt and Road Initiative, addressing the mismatch between trade scale and pricing influence [5] - The internationalization of the Zhengzhou futures market is seen as a reflection of national strategy and a reshaping of the global economic landscape, with the potential to enhance China's pricing power in major commodities [5] Group 5: Challenges and Future Directions - The internationalization of the Zhengzhou futures market faces challenges such as regulatory discrepancies and exchange rate volatility, which require differentiated opening strategies and tailored services for various types of foreign traders [6] - The establishment of a more extensive range of futures and options products based on China's industrial advantages is essential for the future development of the Zhengzhou Commodity Exchange [6]

Core Viewpoint - The Zhengzhou Commodity Exchange (ZCE) has successfully positioned itself as a key player in the internationalization of China's futures market, utilizing the "Zhengzhou Plan" to enhance the global pricing influence of Chinese commodities, particularly in the PTA and oilseed sectors [2][4][6]. Group 1: Market Positioning and Strategy - ZCE's strategic choice to prioritize PTA and oilseed futures for internationalization is based on China's dominant role in the global industrial chain [3][4]. - China is the largest producer and consumer of PTA and plays a significant role in the global vegetable oil market, providing a solid foundation for the authority and international influence of futures prices [4][5]. Group 2: Institutional Innovations - The "Zhengzhou Plan" has introduced a market-oriented approach to open up the futures market, including optimizing delivery rules and enhancing services for foreign enterprises [4][5]. - Specific measures include the inclusion of imported rapeseed meal in the delivery category and the introduction of new contracts to meet the risk management needs of importers [5][6]. Group 3: Global Trade and Economic Impact - The expansion of "Zhengzhou prices" in trade with RCEP and Belt and Road Initiative countries signifies a growing internationalization of China's futures market, reflecting a shift in global economic dynamics [6][7]. - The ZCE's efforts align with national strategies to enhance pricing influence in international commodity markets, leveraging domestic and international resources [6][8]. Group 4: Challenges and Future Directions - The internationalization of the Zhengzhou futures market faces challenges such as regulatory discrepancies and exchange rate fluctuations [7]. - A differentiated opening strategy is proposed to address these challenges, focusing on prioritizing competitive products and varying access standards for different types of foreign traders [7][8].

Core Viewpoint - Hainan Free Trade Port's full island closure operation is a significant project that will enhance China's ability to attract foreign investment and promote economic development through institutional openness [1][2][3] Group 1: Economic Impact - The full island closure operation is expected to create numerous high-quality employment opportunities as foreign investment and talent flock to Hainan [2][3] - Hainan has achieved a total of 102.5 billion RMB in actual foreign investment over the past five years, with an annual growth rate of 14.6%, positioning it as a leader nationally [2][3] - The number of newly established foreign enterprises reached 8,098, with an annual growth rate of 43.7%, indicating a robust investment climate [2][3] Group 2: Policy Developments - Hainan is working on creating a trade management system that allows for free entry and exit, which will boost foreign companies' confidence in investing in China [3][4] - The province is implementing a more transparent and predictable investment environment by relaxing market access for foreign investors and introducing new measures to facilitate investment [3][4] - A new processing and value-added tax exemption policy will significantly lower the threshold for companies to benefit from tax exemptions, expanding the range of eligible goods [5][6] Group 3: Infrastructure and Logistics - Hainan is enhancing its shipping system by optimizing vessel inspection policies and expanding airspace control, which will improve shipping services [4][5] - The establishment of a cross-border data flow mechanism is underway to meet the growing demand for digital trade and economy, with adjustments to communication resource management [4][6] Group 4: Implementation and Future Steps - The focus is on policy implementation to ensure that benefits reach businesses and the public effectively, emphasizing the importance of understanding the significance of the Free Trade Port [8] - There is a need for integrated innovation in the regulatory framework to facilitate compliance and ease of use for businesses, maximizing the benefits of the new policies [8]

Core Viewpoint - The "Free Trade Salon" in Harbin, Heilongjiang Province, serves as a platform for enhancing Sino-Russian economic cooperation and addressing legal risks in cross-border trade, contributing to the broader "Belt and Road" initiative and the strategy for northern openness [1][2][3] Group 1: Activities and Impact - Since its launch in June 2025, the "Free Trade Salon" has held 20 sessions, attracting over 1,000 participants from various sectors, including government and academia, to foster collaboration and policy dialogue [1] - The salon has effectively created a legal service ecosystem to address the legal risks and disputes faced by enterprises engaged in Sino-Russian trade, providing over 50 legal risk solutions to 19 companies [1][2] Group 2: Addressing Trade Challenges - The salon focuses on resolving significant issues faced by enterprises, such as high cross-border logistics costs and complex customs procedures, by promoting the "Longmaotong" digital trade platform, which integrates customs, tax refunds, logistics, and credit insurance services [2] - The platform has been positively evaluated by Russian enterprises for effectively addressing the slow customs clearance, high costs, and fragmented services in Sino-Russian trade [2] Group 3: Industry Collaboration and Development - The salon promotes the development of high-value industries, such as the Sino-Russian health food industry, by collaborating with leading companies and research institutions to enhance the efficiency of Russian agricultural products entering the domestic market [2] - Specialized sessions have been organized to address various sectors, including tourism compliance, financial products for foreign trade enterprises, and language training to improve communication in Sino-Russian business [2][3] Group 4: Strategic Goals and Future Directions - The Harbin Free Trade Zone aims to establish itself as a national benchmark for Sino-Russian openness, enhancing its service mechanism to better match enterprise needs and exploring unique reforms to drive regional collaboration [3] - The salon exemplifies a practical approach to achieving broader openness through targeted initiatives, demonstrating the potential for innovative economic development in the region [3]

Core Viewpoint - Scania's significant investment in Jiangsu, China, reflects confidence in the region's open economic environment and the benefits of recent policy changes for foreign investment [1][4][5]. Group 1: Investment and Expansion - Scania has established its third global industrial production base in Rugao, Jiangsu, with plans to launch its first complete vehicles in Q4 2023 [1]. - The company has committed over 10 billion yuan to various projects, including a powertrain project and a research and development company set to be established in 2024 [1]. - As the first wholly foreign-owned commercial vehicle manufacturer in Jiangsu, Scania has benefited from favorable policies that have expedited project approvals [2]. Group 2: Policy Support and Efficiency - The removal of foreign investment restrictions in 2020 has been pivotal for Scania, allowing for rapid establishment and expansion in the Chinese market [1][2]. - Jiangsu's government has provided substantial support, including tax exemptions on imported equipment and a streamlined approval process that significantly reduces project timelines [2][3]. - The "project service window" in Rugao has enhanced efficiency, allowing for faster inspections and approvals, which has been crucial for Scania's operations [3]. Group 3: Local Supply Chain Development - Scania aims to achieve over 85% localization of its vehicle components, which will help reduce costs and improve delivery times [3]. - The company has established partnerships with 40 local suppliers, with peak annual procurement exceeding 1 billion yuan [3]. - The focus on local sourcing and collaboration with domestic suppliers is expected to enhance Scania's competitive edge in the market [3]. Group 4: Broader Economic Impact - Scania's investment is part of a larger trend, with Jiangsu attracting significant foreign capital, evidenced by a 19.5% share of national foreign investment in the first half of the year [4]. - The province's proactive measures to create a favorable investment environment have led to increased reinvestment from foreign companies, with notable growth in investments from Germany, Luxembourg, and Japan [4][5]. - Jiangsu's commitment to open policies and support for foreign enterprises is seen as a catalyst for sustainable high-quality economic development [6].

Core Viewpoint - Scania's significant investment in Jiangsu, China, reflects the company's confidence in the region's open economic environment and the benefits of recent policy changes that facilitate foreign investment [1][4]. Group 1: Investment and Expansion - Scania is establishing its third global industrial production base in Rugao, Jiangsu, with plans to roll out its first complete vehicles in Q4 2023 [1]. - The company has committed over 10 billion yuan to enhance its operations in Jiangsu, including a powertrain project and the establishment of a research and development center in 2024 [1][4]. - As the first wholly foreign-owned commercial vehicle manufacturer in Jiangsu, Scania has benefited from favorable policies that expedite project approvals and reduce costs [2][4]. Group 2: Policy and Government Support - The removal of foreign ownership limits in 2020 has been pivotal for foreign companies like Scania, allowing them to enter and invest in the Chinese market more effectively [1][2]. - Jiangsu's government has implemented supportive measures, such as tax exemptions on imported equipment for R&D centers, which have encouraged Scania to reinvest in technology development [2][5]. - A dedicated project service team has streamlined the approval process for Scania, significantly reducing the time required for facility inspections and registrations [3]. Group 3: Local Supply Chain Development - Scania aims to achieve over 85% localization of its vehicle components by collaborating with local suppliers, which will help reduce costs and improve delivery times [3]. - The company has already established partnerships with 40 local suppliers, with peak annual procurement exceeding 1 billion yuan [3]. - The strategy of localizing parts production is expected to enhance Scania's competitiveness in the Asian market, particularly as it plans to export "Jiangsu-made" commercial vehicles to Southeast Asia and Japan [4]. Group 4: Economic Impact and Future Outlook - Jiangsu has attracted significant foreign investment, with actual foreign capital usage reaching $11.54 billion in the first half of the year, accounting for 19.5% of the national total [4]. - The province's proactive measures to create a favorable investment environment have led to a notable increase in reinvestment from foreign enterprises, with profits reinvested rising by 5.9% year-on-year [4][5]. - The ongoing efforts to enhance the open economy in Jiangsu are expected to sustain high-quality development and attract more global capital [5].