（来源：经济日报） 转自：经济日报 近日，《国际经贸规则观察报告（2025年度）》于第四届海关与国家安全年会期间在深圳发布。报告由对外 经济贸易大学政府管理学院副院长刘斌研究员团队（刘斌、秦若冰、李建桐、李川川）研制。 该报告已连续发布三年，报告的撰写和发布得到对外经济贸易大学国家对外开放研究院、中国世界贸易组织 研究院和国际贸易规则研究院、政府管理学院的支持。 《国际经贸规则观察报告（2025年度）》涵盖多边贸易体制动态、区域贸易协定趋势、中国自主开放措施以 及未来政策建议等内容。 报告认为：当前，全球经贸规则体系正处于深度调整与重构的关键阶段。尽管多边贸易谈判举步维艰，但仍 有许多亮点，《电子商务协议》达成稳定协议，特别是中国首次引领的《促进发展的投资便利化协定》正式 达成，充分展现了中国作为大国的责任担当。在区域和双边谈判层面，国际经贸规则呈现出诸多新特征，协 定文本的"覆盖力"和"约束力"日益复杂，规制重点逐渐由"边境"措施转向"边境后"措施。积极对接和融入高标 准国际经贸规则对于促进高水平对外开放和高质量发展具有重要意义。在自主开放领域，中国决定给予包括 数十个非洲国家在内的所有同中国建交的最不发达 ...

⚫ 复杂国际形势下展现积极扩大自主开放决心 。证证证证证证证证证证证证证 证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证 证证证证证证证证证证证 证证证证证证证证证证证证证证证证证证证证证证证 证证证证证证 证证证证证证证证 证证证 2026 证证证 证证证证证证证证 证 ⚫ 会议释放出 2026 年对外开放的六大新信号 ： 1 ．整体关键词：从"求稳"转向"多元""共赢"。 证证证证证证证证证证 证证证证证证证证证证证证证证证证证证证证证证 证证证 证证证证证证 证证证 证证证证证证证证 证证证证证证证证证证证证证证证证证证证证证证 2.制度型开放：服务领域与自贸试验区引领从"量变"到"质变" 。证证证证证 证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证证 证证证证证证证证证 证证证 证证证证证证证证证证证证证证证证证证证证证 证 证证证证证 证证证 证证证证证证证证证证证证证证证证证证证证证证证证证证证 证 证证证证证证证证证证 证证证证证证证证证证 证证证证证 证证证证证证 证证 CGS-NDI 专题报告 2026 年高水平对外开放划重点 —— 中央经济工作会议 ...

Core Insights - The significant increase in tariffs on Chinese exports to the U.S. has led to a shift in China's export markets, with ASEAN and the EU becoming major trading partners, reflecting a strategic pivot in trade relationships [1][3]. Group 1: Trade Performance - China's total goods trade volume reached 33.6 trillion yuan in the first three quarters, showing a year-on-year increase of 4% despite high tariffs [1]. - Exports to ASEAN rose by 14.7%, while exports to the EU surged by 28.3%, together accounting for 23.4% of total exports [3]. Group 2: Market Adaptation - The decline in U.S. market share for Chinese exports has dropped to 10.4%, nearly halving since 2018, with a 27% decrease in exports in September alone [5]. - The transition to new markets was facilitated by prior regional trade agreements and established supply chains, allowing for a swift response to changing trade dynamics [7]. Group 3: Product Quality and Innovation - The composition of Chinese exports has shifted from labor-intensive goods to high-tech products, with general machinery exports increasing by 24.9%, integrated circuits by 32.7%, and automotive exports by 10.9% [8][10]. - The focus on providing comprehensive solutions, such as building charging networks for electric vehicles, has enhanced profit margins compared to traditional hardware sales [10][12]. Group 4: R&D Investment - China's manufacturing R&D investment intensity reached 2.6% in the first half of 2025, an increase of 0.8 percentage points since 2020, indicating a commitment to innovation and quality improvement [10]. - The shift from a volume-driven model to a quality-driven approach has made Chinese exports more resilient against tariff pressures, as customers are willing to pay for comprehensive solutions rather than just products [12].

Financial Performance - The company achieved operating revenue of CNY 8.468 billion, a year-on-year increase of 6.2% [2] - The net profit attributable to shareholders reached CNY 2.627 billion, marking a historical high with a growth of 3.1% [2] - The net profit excluding non-recurring items was CNY 2.519 billion, up 16.4% year-on-year, indicating improved economic efficiency [2] Business Operations - Container throughput reached 101.207 million TEUs, an increase of 5.7% year-on-year [2] - Bulk cargo throughput was 630 million tons, slightly down by 0.7% [2] - Domestic port projects achieved container throughput of 79.189 million TEUs, up 6.2% [2] - Overseas port projects completed container throughput of 19.209 million TEUs, a growth of 5.0% [2] Strategic Initiatives - The company aims to become a world-class comprehensive port service provider, focusing on global expansion, lean operations, and innovation [2] - The company operates 51 ports across 26 countries on six continents, actively seeking acquisition opportunities in fast-growing regions [3] Market Trends and Challenges - The international shipping rates fluctuated in the first half of 2025, with a cautious outlook for rate increases in 2026 [3] - The company is focusing on enhancing core competencies and operational efficiency to adapt to market changes [3] - The impact of U.S. tariffs on goods transiting through Southeast Asia is being monitored, with a strategy to mitigate risks through diversified market engagement [4] Digital Transformation - The company is advancing its digital transformation with the launch of three major service platforms, enhancing operational efficiency and customer service capabilities [5] - Automation and smart technologies are being integrated, with significant improvements in operational efficiency, achieving over 80% efficiency in automated operations [5] Shareholder Value Enhancement - The company has initiated a share buyback plan, aiming to repurchase shares worth between CNY 195 million and CNY 389 million by October 28, 2025 [7] - A commitment to distribute at least 40% of profits as dividends annually from 2024 to 2026 has been established [7]

Group 1 - The core viewpoint is that while the US remains an important trade partner for Europe, there is a need for Europe to diversify its trade relationships and leverage its export-oriented economy [1][5] - EU exports to the US have significantly slowed down, with a 10% year-on-year decline in June, reaching a low of approximately 40 billion euros (about 46.8 billion USD) [1][3] - Germany's trade surplus with the US has decreased by 12.8% year-on-year, attributed to the competitive pressure from US tariffs [1][3] Group 2 - The EU's trade surplus has narrowed primarily due to weak chemical exports, a key sector for many European economies [3] - The introduction of various tariffs, including a 15% tariff on most EU goods, has negatively impacted Germany's automotive and machinery exports, which fell by 8.6% and 7.9% respectively in the first half of the year [4] - The US's recent expansion of tariffs to include 407 product categories, such as wind turbines and heavy machinery, complicates the pricing and competitiveness of European exports [4] Group 3 - The European Central Bank's President, Lagarde, indicated that the eurozone's economic growth is expected to slow down in the third quarter due to the impact of US tariffs [5] - The Oxford Economics report noted a significant decline in EU exports to the US since April, with current import levels from the EU falling below the average for 2024 [5] - Despite the challenges, the eurozone showed resilience with a 0.1% growth in the second quarter, although future export recovery remains uncertain due to a strong euro and overall market volatility [6] Group 4 - The EU is actively seeking to diversify its trade relationships by initiating or reviving trade negotiations with developed and emerging markets, including the UAE and New Zealand [6] - There are ongoing discussions for a free trade agreement with India, aiming for a balanced and mutually beneficial deal by the end of the year [6] - The need for regional cooperation in response to rising US trade barriers is emphasized, particularly in industries like semiconductors, where global collaboration is essential [7]