2026.02. 07 本文字数：1390，阅读时长大约2分钟 作者 | 第一财经 缪琦 面对全球严峻复杂的经济形势，上海过去两年的实际使用外资规模未能止跌;抵住关税战压力逆势实现增长的外贸，也仍然面临较大的外部压力。 在7日举行的上海市人民政府主题记者会上，上海市商务委主任申卫华表示，上海历来是外商投资中国的重要目的地也是首选地，外资在全市经济社会 发展中具有重要地位和作用。虽然实到外资数据有所下降，但2025年的降幅已经收缩到了个位数。全市实际使用外资达160.6亿美元的规模，在全国各 省市中排到第二位，总量占全国比重也在上升，达到了15.3%。 同时，上海吸引的外资也显现出较高的质量。"十四五"期间，上海高技术产业实际使用外资占比达到33%，较"十三五"提高了10个百分点。同样体现外 资质量的地区总部数量也在持续上升。截至去年底，上海累计认定跨国公司地区总部、外资研发中心1076家、636家。 申卫华介绍，2025年，上海市新设外资企业达到6300家，新设外资企业家数增长6.8%；合同外资达180亿美元，增长近20%。这充分说明在当前环境 形势下，上海仍是外商投资的首选地，是跨国公司全球产业链和供应链布 ...

Core Insights - Shanghai has shown resilience in attracting foreign investment despite global economic challenges, with actual foreign investment reaching $16.06 billion, ranking second among Chinese cities and accounting for 15.3% of the national total [1] - The quality of foreign investment in Shanghai is improving, with high-tech industries accounting for 33% of actual foreign investment during the 14th Five-Year Plan, a 10 percentage point increase from the previous plan [1] - The number of regional headquarters and foreign R&D centers in Shanghai has increased, with a total of 1,076 regional headquarters and 636 foreign R&D centers recognized by the end of last year [1] Group 1 - Shanghai aims to stabilize foreign investment by enhancing its business environment and supporting the transformation and upgrading of foreign enterprises [2] - The city plans to align with international trade rules and expand institutional openness, particularly in key sectors such as telecommunications, healthcare, education, and finance [2] - New foreign investment policies will guide investments towards advanced manufacturing, modern services, high-tech, and energy-saving industries [2] Group 2 - Shanghai's foreign trade is projected to exceed 4.5 trillion yuan by 2025, with growth rates in import and export values surpassing national averages [3] - The city will implement new policies to stabilize foreign trade, focusing on maintaining the basic trade framework and boosting confidence among foreign trade enterprises [3] - A new round of foreign investment policies is expected to be launched in the first quarter of this year [3] Group 3 - Shanghai will enhance cross-border trade facilitation by collaborating with customs, foreign exchange, and tax departments to improve processes such as customs clearance and export tax rebates [4] - The city aims to foster new business models in foreign trade, including the development of cross-border e-commerce and optimizing overseas warehouse services [4] - Initiatives will also focus on service trade and digital trade, with plans to establish a national service trade innovation development demonstration zone [4]

近日，上海外高桥的海通汽车滚装码头上，作业繁忙。名爵、长安、奇瑞……一辆辆汽车正驶入汽车滚装船"伟大宇宙（Grand Cosmo）"，很 快这艘船就装载着近千辆中国汽车前往厄瓜多尔的曼塔港。 2025年，这座全国最大的单一汽车滚装码头出口汽车145.7万辆，同比增长15%。以此换算，每昼夜有近4000辆汽车由此出口。事实上，不到 30秒，就有1辆中国制造汽车从这里启程，驶向全球市场。 这一年，上海外贸顶住复杂外部挑战，交出了一份亮眼答卷：上海货物进出口规模达到4.51万亿元，创历史新高。其中，出口大幅增长 10.8%。 党的二十届四中全会审议通过的《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》提出，"推动贸易创新发展。促进外贸提 质增效，加快建设贸易强国""优化升级货物贸易，拓展中间品贸易、绿色贸易"。 图为上海外高桥的海通汽车滚装码头。（受访者供图） 进入"十五五"，海通码头将聚焦绿色化、智能化两大方向，推动港口高质量发展。孙超说，未来，这里不仅将通过完善光伏发电设施的覆盖 率，提高绿电自给率，构建光、风、储能一体化的绿色能源系统，打造"近零碳"码头，还将构建绿色集疏运体系，搭建绿色供应链，完 ...

Core Insights - In 2025, China's foreign trade demonstrated resilience and vitality, achieving a record total import and export value exceeding 45 trillion yuan, marking a 3.8% growth and maintaining growth for nine consecutive years since joining the WTO [1] Group 1: High-Tech Product Exports - High-tech products played a crucial role in China's export growth, with exports reaching 5.25 trillion yuan, a 13.2% increase, contributing 2.4 percentage points to overall export growth [2] - Exports of "new three samples" and wind turbine generators surged by 27.1% and 48.7%, respectively, while self-branded products saw a 12.9% increase, raising their share of total exports by 1.4 percentage points [2] - Specialized equipment, high-end machine tools, and industrial robots experienced significant export growth of 20.6%, 21.5%, and 48.7%, respectively, with China becoming a net exporter of industrial robots [2] Group 2: Market Dynamics - Over 780,000 market entities recorded import and export activities, with private enterprises continuing to be the main drivers of foreign trade, achieving 26.04 trillion yuan in imports and exports, a 7.1% increase, and accounting for 57.3% of total trade [3] Group 3: Trade Structure Optimization - China's foreign trade foundation is solidifying, with new trade dynamics accelerating due to a combination of institutional, market, and industrial advantages [4] - Since 2025, the government has implemented various policies to stabilize foreign trade, including 29 pilot measures that have been well-received by localities and businesses, with 25 measures being promoted nationwide [4] - In 2025, China imported 18.48 trillion yuan worth of goods, maintaining about 10% of global imports, driven by an upgraded business environment and the dual push of digital and green initiatives [5] Group 4: Trade Innovation Development - Promoting trade innovation is essential for the continuous optimization of trade structure, with the 20th Central Committee emphasizing the importance of technological innovation and the integration of innovation and industrial chains [6][7] - There is significant potential for growth in service trade, which currently represents a low proportion of total trade, necessitating the integration of goods and service trade to create new growth areas [7] - The establishment of the Hainan Free Trade Port in December 2025 marks the beginning of a new phase of opening up, expected to enhance trade structure optimization and innovation development [7]

Core Insights - In 2025, China's foreign trade demonstrated resilience and vitality despite global economic slowdown, achieving a record total import and export value exceeding 45 trillion yuan, marking a 3.8% growth and the longest continuous growth since joining the WTO [1] Group 1: High-Tech Product Exports - High-tech product exports reached 5.25 trillion yuan, growing by 13.2%, contributing 2.4 percentage points to overall export growth [2] - Exports of "new three samples" and wind turbine generators increased by 27.1% and 48.7%, respectively [2] - The export of industrial robots surged by 48.7%, making China a net exporter of industrial robots [2] Group 2: Market Dynamics - Over 780,000 market entities engaged in import and export activities, with private enterprises playing a crucial role, accounting for 26.04 trillion yuan in trade, a 7.1% increase, and representing 57.3% of total trade [3] Group 3: Trade Structure Optimization - China's foreign trade foundation is solidifying, with new trade dynamics accelerating due to institutional, market, and industrial advantages [4] - In 2025, imports totaled 18.48 trillion yuan, maintaining a 10% share of global imports, driven by an upgraded business environment and the dual push of digital and green initiatives [5] Group 4: Trade Innovation Development - Promoting trade innovation is essential for the continuous optimization of trade structure, with a focus on integrating technology innovation into the industrial chain [6][7] - The establishment of Hainan Free Trade Port marks a new phase of expanded openness, enhancing trade structure optimization and innovation development [7]

Group 1: Core Economic Strategies - The "15th Five-Year Plan" emphasizes boosting consumption, expanding autonomous openness, and promoting innovative trade development [1] - The Central Economic Work Conference highlights the importance of domestic demand and building a strong domestic market while maintaining openness for multi-field cooperation [1] Group 2: Service Consumption Growth - A focus on new service consumption models with fast growth and strong driving effects is outlined, along with the need to improve supportive policies and eliminate unreasonable restrictions [2] - Events like "Service Consumption Season" and "Chinese Cuisine Fair" are planned to guide localities in creating distinctive service consumption brands in sports, performing arts, tourism, and winter sports [2] Group 3: Consumer Market Development - The lower-tier markets, represented by third and fourth-tier cities and counties, account for 70% of the population and 60% of total retail sales of consumer goods, making them key areas for consumption growth [6] - Strategies will include enhancing circulation facilities, optimizing market environments, and enriching consumption scenarios to activate this potential "blue ocean" [6] Group 4: Trade Promotion Initiatives - Important trade fairs like the Canton Fair will be organized to attract more overseas buyers, with increased support for enterprises participating in overseas exhibitions [9] - The government aims to optimize public services and promote healthy development of new foreign trade models such as cross-border e-commerce [9] Group 5: Import and Export Strategies - Efforts will be made to expand the influence of the "Export China" brand through various matching activities and targeted procurement [11] - Utilizing trade promotion platforms like the China International Import Expo will enhance the convenience of import trade and optimize the structure of imported goods [13] Group 6: Service Trade Development - The development of service trade will follow a "one industry, one policy" approach, with policies aimed at accelerating the export of productive services and enhancing international service capabilities [15] - Emphasis will be placed on leveraging innovations in artificial intelligence, digital economy, and biomedicine to expand emerging service exports [15] Group 7: Autonomous Opening Up - Gradual expansion of autonomous opening in sectors like value-added telecommunications and biotechnology is planned, along with the implementation of zero-tariff measures for all tax items with African countries [19] - The operational policies for the Hainan Free Trade Port will be actively promoted to ensure effectiveness [19] Group 8: Global Supply Chain Cooperation - The strategy includes promoting reasonable and orderly cross-border layout of industrial and supply chains, enhancing cooperation in green development, digital economy, and new energy sectors [21] - The establishment of a comprehensive overseas service system and the promotion of a collaborative service ecosystem for international market expansion are also key objectives [21]

Core Viewpoint - The Chinese government is set to implement various measures in 2026 to boost consumption, support foreign trade innovation, and expand bilateral investment opportunities. Group 1: Foreign Trade Innovation - The establishment of a negative list management system for cross-border service trade and the construction of a national service trade innovation development demonstration zone will be prioritized [1][6] - A national digital trade demonstration zone will be initiated, along with the formulation of relevant standards for digital trade to promote the digital transformation of service outsourcing [1][6] Group 2: Consumption Promotion - The optimization of the old-for-new consumption policy will be implemented to stimulate the consumption of durable goods such as automobiles, home appliances, and digital products [2][5] - Pilot reforms in automotive circulation consumption will be conducted to further unleash the potential of automobile consumption [2][5] - The service consumption quality improvement initiative will continue, focusing on enhancing the supply levels in cultural entertainment, tourism, and healthcare sectors [2][5] Group 3: Investment Expansion - The government plans to gradually open up sectors such as telecommunications, healthcare, and education to foreign investment [7] - A national-level overseas comprehensive service platform will be established to support foreign investors and facilitate their participation in various economic activities [8] Group 4: International Trade Cooperation - The government aims to sign free trade agreements with more willing countries and establish trade facilitation working groups to enhance international economic cooperation [6][7] - The focus will be on expanding self-trade cooperation with countries in the Gulf Cooperation Council, Switzerland, South Korea, and others [7]

全年社会消费品零售总额首次突破50万亿元、全年服务零售额增长5.5%、全年货物进出口增长3.8%、 全年新设外资企业增长19.1%、与31个国家和地区签署24个自贸协定…… "刚刚过去的2025年是很不平凡的一年。"在1月26日国新办举行的新闻发布会上，商务部副部长鄢东在 介绍2025年商务工作及运行情况时指出，过去一年实现了商务发展总体平稳、稳中有进，为经济持续回 升向好作出积极贡献。 外贸形势仍是当前各方关注的热点。"当前中国面临的外部环境发生深刻复杂的变化，应该讲战略机遇 和风险挑战并存，不确定、难预料因素增多。同时我们也要看到，中国经济基础稳、优势多、韧性强、 潜能大，外贸发展仍然具备诸多有利的条件。"商务部对外贸易司司长王志华称，今年商务部将从强化 政策支持、拓展多元市场、推动平衡发展、大力发展服务贸易、创新发展数字贸易等方面，全力稳住外 贸基本盘。 其中，在服务贸易领域，将完善跨境服务贸易负面清单管理制度，有序推进服务市场开放，建设国家服 务贸易创新发展示范区。扩大优势生产性服务出口，促进知识产权、人力资源等服务贸易集聚发展，鼓 励设计、咨询、金融、会计、法律等专业服务机构提升国际化服务能力，鼓励 ...

Group 1: Consumer Promotion and Service Sector Growth - In 2026, the Ministry of Commerce will optimize the implementation of the old-for-new consumption policy to boost sales of durable goods such as automobiles and home appliances [2] - The service sector is identified as a key driver for domestic demand expansion and transformation, with initiatives to enhance the supply levels in cultural, entertainment, tourism, and healthcare sectors [2] - The Ministry will continue to promote service consumption quality improvement actions and remove unreasonable restrictions in service consumption areas [2] Group 2: Foreign Trade Stability and Innovation - The Ministry of Commerce aims to stabilize the foreign trade base through a combination of policies and support for cross-border e-commerce development [4] - Service trade and digital trade are highlighted as important areas for innovation, with plans to establish national service trade innovation development demonstration zones [4] - The Ministry will promote the "Export China" brand and leverage major trade exhibitions to expand imports from countries involved in the Belt and Road Initiative [4][5] Group 3: Attracting Foreign Investment - In 2026, efforts will be made to enhance the attractiveness of foreign investment by expanding access in sectors like telecommunications, healthcare, and education [7] - The Ministry will implement policies to support foreign enterprises in participating in consumption stimulation and government procurement activities [7] - A national-level overseas comprehensive service platform will be established to provide a one-stop service for companies going abroad, integrating various service resources [8]

Group 1: Consumer Promotion - In 2026, the implementation of a consumption upgrade program will be optimized, focusing on the replacement of old consumer goods, particularly in the automotive, home appliance, and digital product sectors [3][4] - The service consumption sector will be enhanced through actions aimed at improving the supply levels in cultural entertainment, tourism, dining, and healthcare [3][4] - New growth points in service consumption will be cultivated, including transportation services, housekeeping, and inbound consumption, supported by relevant policies [3][4] Group 2: Foreign Trade Stability - The Ministry of Commerce will implement a series of policies to stabilize foreign trade, including promoting cross-border e-commerce and enhancing the "Export China" brand [5][6] - Service trade and digital trade will be key areas for innovation, with plans to establish national service trade innovation development demonstration zones [5][6] - Efforts will be made to expand the export of productive services and enhance the international capabilities of professional service institutions [5][6] Group 3: Foreign Investment Expansion - In 2026, there will be a focus on creating new advantages for attracting foreign investment, with plans to open up sectors such as telecommunications, healthcare, and education [7][8] - A national-level overseas comprehensive service platform will be established to provide a one-stop service for companies looking to invest abroad [8] - The Ministry of Commerce will accelerate the process of regional and bilateral trade investment agreements, enhancing market access and investment protection [7][8]