央视网消息：商务部最新数据显示，今年1至10月，全国新设立外商投资企业53782家，同比增长14.7%。 从来源地看，阿联酋、英国、瑞士等实际对华投资分别增长48.7%、17.1%、13.2%。 高技术产业实际使用外资1925.2亿元人民币，其中，电子商务服务业、医疗仪器设备及器械制造业、航空航天器及设备制造业实际使用外 资分别增长173.1%、41.4%、40.6%。 前十个月，我国实际使用外资金额6219.3亿元人民币。从行业看，制造业实际使用外资1619.1亿元人民币，服务业实际使用外资4458.2亿 元人民币。 ...

商务部最新数据显示，今年1至10月，全国新设立外商投资企业53782家，同比增长14.7%。 从来源地看，阿联酋、英国、瑞士等实际对华投资分别增长48.7%、17.1%、13.2%。 （文章来源：央视新闻） 前10个月，我国实际使用外资金额6219.3亿元人民币。从行业看，制造业实际使用外资1619.1亿元人民币，服务业实际使用外资4458.2亿元人民币。 高技术产业实际使用外资1925.2亿元人民币，其中，电子商务服务业、医疗仪器设备及器械制造业、航空航天器及设备制造业实际使用外资分别增长 173.1%、41.4%、40.6%。 ...

鑫新闻 研究所日报 2025 年 11 月 21 日 星期五 1.11月LPR报价持稳：1年期LPR报3%，上次为3%；5年期以上品种报3.5%，上次为3.5%。点评：根据央行三季度货币政 策执行报告相关表述，央行将更加重视利率定价的市场传导，短期内继续降准降息的概率降低，宽松货币政策以及低 利率环境总体将延续较长时间，此外当下融资需求不高的情况下仅仅依靠宽松的货币政策预计对提振经济的效果不 佳。 2.央行公告称，11月20日以固定利率、数量招标方式开展了3000亿元7天期逆回购操作，操作利率1.40%，投标量3000 亿元，中标量3000亿元。Wind数据显示，当日1900亿元逆回购到期，据此计算，单日净投放1100亿元。点评：央行近 期持续提升OMO存量以维护银行间市场流动性，符合操作规律，当下OMO存量已突破1.5万亿，此外本月25日有9000亿 MLF到期，加之国库定存等到期本月内资金缺口突破2万亿，央行预计将加大净投放力度。 3.据中国证券报，本周，多家外资机构发布2026年展望报告，集体看好中国股市中长期配置价值，其中瑞银、摩根士 丹利等纷纷上调中国市场相关股指目标点位。在唱多中国资产的同时，外资 ...

Core Viewpoint - The Shanghai Stock Exchange (SSE) is actively supporting high-quality merger and acquisition (M&A) cases to create a conducive environment for technological innovation and foreign investment needs, reflecting a new active cycle in A-share M&A activities since last year [1][3]. Group 1: M&A Activity and Trends - In 2023, A-share listed companies have disclosed over 1,000 M&A transactions, with 115 major asset restructurings, marking a 138% year-on-year increase [1]. - Half of the major asset restructurings since the release of the "Six M&A Guidelines" are technology-related, showing a 287% year-on-year increase, focusing on emerging and future industries [1][3]. - Traditional industries are seeking transformation and upgrading through M&A, either by consolidating within the same industry or acquiring upstream and downstream assets to enhance industrial integration [1]. Group 2: International Investment Opportunities - The M&A market serves as a bridge connecting domestic and international markets, with companies actively pursuing overseas acquisitions for advanced technologies and new market opportunities while also attracting foreign investment to improve internal governance [3]. - International investors are encouraged to strategically invest in A-share technology companies, particularly those on the Sci-Tech Innovation Board, to capitalize on China's technological innovation dividends [3]. Group 3: Regulatory and Institutional Improvements - The SSE aims to attract more high-quality companies to list and enhance the quality of listed companies by deepening investment and financing reforms [4]. - Continuous improvement of the M&A regulatory framework is emphasized, with a focus on market-oriented reforms and responsiveness to investor needs [4][5]. - The SSE is committed to creating a more inclusive regulatory environment that respects market innovation while ensuring effective oversight [5]. Group 4: Enhanced Services for Investors - The SSE is dedicated to becoming a service-oriented exchange, offering M&A courses, summarizing case studies, and providing practical manuals to improve operational capabilities [5]. - Efforts are being made to enhance communication with global investors and optimize cross-border connectivity mechanisms to facilitate easier investment in the Chinese market [5].

尼霍夫是常州西太湖引入高质量外资的缩影。近年来，常州西太湖逐渐锻造出外资"强磁场"，不断引入 高质量外资外贸企业，引入包括全球植物纤维技术领先企业瑞登梅尔、全球汽车贴膜与功能性材料制造 商艾利丹尼森、百年建材企业索普瑞玛在内的197家外资外贸企业，成为区域发展的"有力增量"。 德国尼霍夫集团是世界知名的电缆电线设备制造公司，在拉线及束线领域处于领先位置。2011年，尼霍 夫集团投资成立尼霍夫机械制造(常州)有限公司，进驻常州西太湖，成为集团在中国唯一的生产和服务 基地；2018年4月二次增资，由尼霍夫常州公司全面生产主打产品；此次再度加码西太湖，新增地30 亩，引入新生产线与新设备扩大企业产能。 本报讯(徐维庆周健)深度链入常州新能源产业，加码常州西太湖发展布局。10月17日，德国尼霍夫集团 再度出资3000万美元，在常州西太湖科技产业园布局建设高端线缆设备产业化生产基地，这也是该集团 第三次在西太湖增资。 ...

Core Points - The meeting between Liu Ning, the Secretary of the Provincial Party Committee, and the CEO of Swire Group, Jeremy Hsu, highlights the importance of Swire Group's investment in Henan and the potential for further collaboration in various sectors [1][2] - Henan is positioned as a significant economic province in China with a strong market potential, and the government is focused on stabilizing employment, enterprises, and market expectations while expanding both domestic and international openness [1] - The Swire Coca-Cola expansion project in Zhengzhou is seen as a key opportunity for enhancing production capacity and business expansion, contributing to Zhengzhou's development as an internationally influential consumer city [2] Summary by Sections Government Perspective - Liu Ning expressed gratitude for Swire Group's support in Henan's economic development and emphasized the province's rich resources, cultural heritage, and market potential [1] - The provincial government is implementing a "1+2+4+N" target system to stabilize the economy and enhance the business environment for foreign investments [1] Company Perspective - Jeremy Hsu acknowledged the support from Henan and expressed confidence in the commercial prospects of Zhengzhou, indicating a commitment to further explore cooperation opportunities [2] - The Swire Coca-Cola project is expected to improve production capacity and expand business operations, aligning with local development needs [2] Future Collaboration - There is an emphasis on deepening practical cooperation in sectors such as food, commerce, and logistics, with a focus on introducing innovative business models and diverse consumer scenarios to enhance overall competitiveness [1][2]

Core Insights - During the "14th Five-Year Plan" period, Huangpu District in Shanghai has achieved significant foreign investment results, with a total contracted foreign capital of $8.657 billion and actual foreign capital of $6.86 billion, exceeding the target of $5 billion ahead of schedule [1][3] - The foreign investment environment in Huangpu is being continuously optimized, with a focus on attracting high-quality foreign projects and enhancing the overall investment ecosystem [5][7] Investment Performance - Huangpu District has introduced several representative foreign investment projects in sectors such as digital technology, pharmaceuticals, and real estate, with a 25% year-on-year increase in the number of newly established foreign enterprises this year [3][4] - The actual foreign capital for the year is expected to exceed $2 billion, maintaining a leading position in the city [3] Company Landscape - As of 2024, Huangpu District has 2,657 foreign-funded independent legal entities, accounting for 4% of the city's total foreign enterprises, with investment sources from 73 countries and regions [4] - The district ranks first in Shanghai for the proportion of profitable foreign enterprises from 2021 to 2024, with 24 companies listed among the city's top 100 foreign enterprises [4] Economic Contribution - Foreign enterprises in Huangpu contribute over 40% to the district's economy, with a significant increase in the number of regional headquarters of multinational companies from 53 in 2020 to 83 currently, marking a 57% increase [4] Investment Promotion Strategy - Huangpu District has established a diversified and professional foreign investment promotion service system, forming strategic partnerships with 21 entities, including foreign chambers of commerce and top consulting firms [5] - The district has successfully hosted online investment promotion events, attracting participation from various international enterprises [5] Future Development Plans - Huangpu District is focusing on urban renewal and technological innovation, with significant projects planned in key areas to provide ample development space for foreign investors [6][7] - The district aims to enhance its business environment by implementing targeted policies and improving communication mechanisms with foreign enterprises [7]

Core Insights - In August, the expectation of a Federal Reserve interest rate cut strengthened, leading to a depreciation of the US dollar and an increase in the appreciation momentum of the Chinese yuan, while market expectations remained stable [3][4]. Currency Market Analysis - The US dollar index fell from above 100 to 97.8, a decrease of 2.2%, due to weaker-than-expected employment data and concerns over the independence of the Federal Reserve [3]. - The Chinese yuan's central parity rate appreciated for the fourth consecutive month, with an average daily appreciation of 8 basis points from August 1 to 20, and accelerated to an average daily appreciation of 51 basis points in late August [4]. - By the end of August, the central parity, onshore, and offshore exchange rates of the yuan reached 7.1030, 7.1330, and 7.1221 respectively, appreciating by 0.7%, 0.8%, and 1.2% compared to the end of the previous month [4]. Cross-Border Capital Flows - In August, cross-border capital turned into a net inflow, with banks' foreign currency payments shifting from a deficit of $7.7 billion to a surplus of $3.2 billion [13]. - Foreign currency payments contributed significantly to this surplus, with a month-on-month increase of $17.6 billion to $53.2 billion, marking a new high since October 2024 [13]. - Foreign investment interest in Chinese stocks increased, with a net inflow of $10.8 billion in August, the highest since February of the same year [14]. Foreign Exchange Supply and Demand - The bank's foreign exchange settlement and sales surplus narrowed to $16.8 billion, the lowest in four months, indicating a decrease in the willingness to settle foreign exchange [20]. - The ratio of foreign currency receipts to payments fell to 52.6%, the lowest in five months, while the ratio of payments to purchases rose to 62.0%, the highest in nearly seven months [21]. Trade and Investment - The goods trade surplus decreased by $16.5 billion to $72.9 billion, reflecting a slowdown in export revenue collection [18]. - Direct investment foreign exchange payments showed a deficit increase of $4.5 billion to $7.5 billion, with foreign income dropping to $50.2 billion, the lowest for the same period in five years [15].

Group 1: Foreign Investment in China - The establishment of the German SME cluster in Wuhu focuses on automotive parts and high-end intelligent manufacturing, reflecting China's commitment to high-level opening-up [1] - China's foreign investment environment is improving, with the nationwide negative list for foreign investment reduced to 29 items, and the manufacturing sector's restrictions eliminated [1] - From January to August, 42,435 new foreign-invested enterprises were established in China, representing a year-on-year increase of 14.8% [1] Group 2: Foreign Companies' Confidence - Amphenol's new high-end connector project in Haining, Zhejiang, has a total planned investment of 300 million yuan, with an expected annual output value of 1 billion yuan upon reaching full capacity [2] - 92% of German companies are willing to continue deepening their investment in China, with over half planning to increase investments in the next two years [2] - Nearly half of the member companies of the American Chamber of Commerce still consider China one of the top three investment destinations globally [2] Group 3: Growth in Overseas Markets - Lan Jian Intelligent is expanding its overseas market presence, with a focus on promoting Chinese smart warehousing technology [3] - In the first half of the year, over 830 manufacturing companies listed on the Shanghai Stock Exchange achieved overseas revenue of 1.1 trillion yuan, a year-on-year increase of 5% [3] - A-share listed companies reported overseas income of 4.90 trillion yuan in the first half of the year, reflecting a growth of 4.5% [3] Group 4: Non-Listed Companies and Policy Expectations - Non-listed companies are also accelerating their overseas expansion, with Orange Group's overseas business expected to grow over 400% in 2024 [4] - The Chinese government is expected to introduce more policies to facilitate foreign investment and support companies going abroad [5] - The State Council is enhancing support for companies participating in international cooperation and competition, focusing on improving overseas service systems [5] Group 5: Recommendations for Policy Support - Companies are seeking policy support for customs facilitation, including optimizing clearance processes and simplifying certification procedures [6] - There is a call for more international certification support and precise market information to assist companies in their overseas ventures [6]

Economic Resilience and Retail Sector - In September, China's retail industry prosperity index reached 50.6%, an increase of 0.5 percentage points month-on-month, marking the highest level in eight months, indicating a positive trend in retail development [3] - The retail sector's performance is supported by policies aimed at expanding domestic demand and promoting consumption, with retail sales of 11 categories of light industrial goods reaching 4.9 trillion yuan, a year-on-year increase of 11.4% [8] Logistics and Transportation - In August, 15 new international air cargo routes were opened, with over 30 round-trip flights added weekly, totaling 152 new routes in the first eight months of the year [5] - The road logistics price index for August was reported at 105.1 points, reflecting a month-on-month increase of 0.01% and a year-on-year increase of 0.8%, indicating a vibrant road logistics market [7] Light Industry Performance - In the first seven months of the year, China's light industry maintained steady operation with a total revenue of 13.2 trillion yuan and a profit of 760.1 billion yuan, supported by strong production and market scale [8] - The investment growth in the light industry remains robust, with major sectors experiencing double-digit growth rates, surpassing the national fixed asset investment and manufacturing investment growth rates [10] Export Dynamics - Light industry exports reached 535.75 billion USD in the first seven months, accounting for 25.1% of the national total, with 11 out of 21 major categories showing growth [12] Foreign Investment in Guangdong - Guangdong province saw a 32.7% year-on-year increase in the number of newly established foreign-funded enterprises, totaling 17,000 in the first seven months [13][14] - The actual use of foreign capital in Guangdong reached 65.67 billion yuan, an increase of 8.2% year-on-year, with the manufacturing sector accounting for 29.1% of the total [16] Customs Special Supervision Areas - The comprehensive bonded zones and bonded logistics parks have contributed significantly to foreign trade, accounting for one-fifth of the national import and export value despite occupying less than 0.02% of the land area [16][18] - By 2024, the import and export value of customs special supervision areas is expected to grow by over 30% compared to 2020 [16]