不久前，2025年中国经济成绩单公布。利用外资的两大关键指标一升一降，引发关注：全国新设立 外商投资企业增长19.1%，而实际使用外资金额下降9.5%。 或许有人坐不住了，引资规模为何下降？先别急，说到底，产业投资是长期的理性选择，受多种因 素影响。一方面，在全球经贸交流不确定性、不稳定性因素增加的情况下，跨境投资波动自然会有所加 大。另一方面，全球跨国投资越来越偏向服务化、轻资产化，同时不少国家都在"使劲"招商，竞争更激 烈了。 新设立的外企数量涨了近两成表明，外资正在"换个姿势"拥抱中国。来的企业变多了，不少项目可 能还在初期，资金没完全到位，其实都在为未来铺路。根据毕马威发布的《2025年跨国企业中国展 望》，大多数行业的跨国企业对未来3年至5年在中国的收入增长前景持更为乐观的态度，94%的受访企 业表示会继续投资中国市场。 真金白银的流向是风向标。比如，服务业实际使用外资5451.2亿元，占了总额的大头。这印证了我 国超大规模市场优势——14亿多人口、4亿多中等收入群体，蕴含消费升级的巨大潜力和吸引力，为外 资投资兴业、抢占先机提供了"黄金赛道"。又如，制造业实际使用外资1855.1亿元。我国拥有全球 ...

Core Viewpoint - The article discusses the recent increase in foreign investment in China, driven by high-level visits from various countries' leaders, which enhances mutual understanding and trust in bilateral economic relations [3]. Group 1: Foreign Investment Growth - In 2025, South Korea's manufacturing investment in China grew by 14.1%, Canada's high-tech industry investment increased by 11.7%, Finland's manufacturing investment rose by 21.7%, and the UK's overall investment in China grew by 15.9% [3]. - A total of 70,392 new foreign-invested enterprises were established in China in 2025, marking a 19.1% year-on-year increase, while the actual utilized foreign capital amounted to 747.69 billion RMB, a decrease of 9.5% [4]. Group 2: Sector-Specific Investment Insights - The actual foreign investment in the manufacturing sector reached 185.51 billion RMB, while the service sector attracted 545.12 billion RMB. High-tech industries received 241.77 billion RMB, with significant growth in e-commerce services (75%), medical instruments (42.1%), and aerospace manufacturing (22.9%) [4]. - A survey by KPMG indicated that 94% of multinational companies plan to continue investing in the Chinese market, and over half of the surveyed companies expect to achieve profitability or significant profits in 2025 [4]. Group 3: Opportunities in Specific Markets - The UK-China Trade Association highlighted the potential for British companies in China's service sector, particularly in finance, healthcare, leisure, culture, and education, aligning with China's 14th Five-Year Plan to expand consumption and open up services [5]. - German companies view China as a long-term investment base and a key market for high-tech and high-quality products, with strong potential for cooperation in biopharmaceuticals, smart manufacturing, and sustainable development [6]. Group 4: Policy and Future Outlook - The Chinese government aims to maintain high-quality development and expand high-level openness during the 14th Five-Year Plan, which is expected to provide a favorable environment for foreign enterprises [6]. - The Ministry of Commerce plans to deepen foreign investment, reform mechanisms, and optimize the business environment to attract foreign capital, ensuring that foreign companies can thrive in China [6].

系列利好彰显发展势能——融入服务全国统一大市场建设取得突破，成功入选国家要素市场化配置 综合改革十个试点城市之一，是入选的唯一北方省会城市；创新动能持续增强，揭牌成立中原科技城科 创联盟、哈工大郑州高等研究院；开放活力充足，郑州机场货邮吞吐量超100万吨、成为全球航空货 运"百万吨俱乐部"成员。 城市核心竞争力同步攀升。数据显示，2025年全市新增经营主体13.78万户，市场经营主体总量达 223.86万户，全省经济首位度达22.9%。截至目前，"郑聚英才计划"吸引来郑留郑大学生超100万人，人 才总量突破320万人；城市净流入人口持续居全国城市前列，常住人口突破1300万人，规模居全国城市 第十位；全市共有国家级研发平台68家、全国重点实验室17家。 数据或能稍见端倪——2025年，全市规上工业增加值同比增长9%。工业投资实现17.9%的高速增 长，彰显强势后劲。2025年1~11月全市规模以上服务业营业收入同比增长10.1%，同比加快4.3个百分 点。消费市场不乏亮点，新能源汽车零售额增长17.1%，升级类商品如照相器材、可穿戴智能设备、智 能手机零售额分别增长1.4倍、1.2倍、1倍。 经济向"新"性气 ...

Economic Overview - In 2025, Guangzhou's GDP reached 32,039.46 billion yuan, with a year-on-year growth of 4.0% at constant prices [1][4][13] - The primary industry added value was 317.02 billion yuan, growing by 3.3%; the secondary industry added value was 7,710.27 billion yuan, growing by 1.6%; and the tertiary industry added value was 24,012.17 billion yuan, growing by 4.8% [1][13] Industrial Performance - The industrial output of large-scale industries in Guangzhou increased by 1.2% year-on-year [1][18] - The automotive manufacturing sector, undergoing a transition, saw a narrowing decline of 1.6%, with new energy vehicle production increasing by 21.6% [1][4] - Stable growth was observed in electronic products and petrochemical manufacturing, with increases of 1.4% and 4.1%, respectively [1] Service Sector Growth - From January to November, the revenue of large-scale profit-making service industries grew by 10.1% year-on-year [1][22] - Significant growth was noted in the internet, software, and information technology services, with a revenue increase of 9.3% [1] - The human resources, advertising, consulting, and cultural sectors experienced revenue growth rates of 11.9%, 22.5%, and 25.7%, respectively [1][22] Domestic Demand and Trade - Guangzhou's total retail sales of consumer goods reached 11,032.38 billion yuan, with a year-on-year growth of 5.5%, maintaining a leading growth rate among major cities in China [2][25] - The city's import and export scale exceeded 1.2 trillion yuan, marking a historical high with a year-on-year growth of 10.4% [2][27] - Exports surpassed 800 billion yuan, growing by 17.8%, the highest growth rate in the province [2][27] Investment Trends - Fixed asset investment in Guangzhou decreased by 6.7% year-on-year, with real estate development down by 2.8% and infrastructure down by 5.9% [2][29] - Notable growth was seen in water transportation (15.9%), air transportation (16.1%), and aerospace manufacturing (60.6%) [2][29] Economic Challenges and Future Outlook - The city faces challenges from a complex external environment and internal structural adjustments, with industrial production in a low recovery phase [2] - Future strategies include leveraging demand to expand markets, strengthening project support, and enhancing technological innovation to drive new momentum for economic recovery [2]

Economic Overview - In 2025, Guangzhou's GDP reached 3.2 trillion yuan, with a year-on-year growth of 4.0% [1] - The primary industry added value was 317.02 billion yuan, growing by 3.3%; the secondary industry added value was 7.71 trillion yuan, growing by 1.6%; and the tertiary industry added value was 24.01 trillion yuan, growing by 4.8% [1] Industrial Performance - The industrial added value of large-scale industries in Guangzhou grew by 1.2% year-on-year [1] - The automotive manufacturing sector, undergoing transformation, saw a narrowing decline, with new energy vehicle production increasing by 21.6% [1] - The manufacturing of display devices and integrated circuits grew by 16.1% and 43.0% respectively, with significant increases in production for various components [1] Investment Trends - Fixed asset investment in Guangzhou showed structural optimization, with significant growth in transportation projects, particularly in water and air transport, which grew by 15.9% and 16.1% respectively [2] - Investment in high-tech manufacturing, specifically in aerospace and equipment manufacturing, surged by 60.6% [2] - In high-tech services, investments in information services and R&D design services grew by 22.0% and 29.5% respectively [2] Consumer and Income Data - The total retail sales of consumer goods reached 1.1 trillion yuan, with a year-on-year increase of 5.5% [2] - The per capita disposable income of residents in Guangzhou was 80,591 yuan, growing by 3.6% year-on-year [2] - Over 70% of public budget expenditure was allocated to social welfare, education, and housing security, with respective growth rates of 15.4%, 2.8%, and 2.6% [2] Economic Challenges and Future Outlook - The economic environment in Guangzhou is characterized by ongoing challenges, with industrial production in a low recovery phase and a need for stronger internal demand [3] - Future strategies include market expansion driven by demand, project support, technological innovation, and revitalizing industrial momentum to sustain economic recovery [3]

更值得关注的是，"明星赛道"的亮眼表现。高技术产业实际使用外资2417.7亿元，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同比分别增长75%、42.1%、 22.9%。可以说，总量的"降"换来质量的"升"，外资正在深度融入我国"新质生产力"的培育过程。外资 结构的优化，与我国经济结构调整形成了同频共振。这种结构性变化，更是对外开放格局并未改变的生 动注脚。 2026年，如何引入更多高质量外资项目？"十五五"规划建议提出，塑造吸引外资新优势，落实好"准入 又准营"，缩减外资准入负面清单，促进外资境内再投资。前不久召开的中央经济工作会议要求，深化 外商投资促进体制机制改革。 让外企愿意来、留得住、发展好，各地都在加紧布置落实。上海出台二十条措施，鼓励外商投资企业境 内再投资；北京将用好中国国际服务贸易交易会、中关村论坛、金融街论坛、北京文化论坛等开放平 台，吸引更多优质外资项目落地；广西南宁打造南A东盟谷，逾20个项目集中签约……在持续发展、市 场开放的中国，外企必须拿出看家本领才能站稳脚跟。 如今，外企来华的"老故事"不断上演"新剧情"：布局方向变了，盯着高技术产业深耕 ...

让外企愿意来、留得住、发展好，各地都在加紧布置落实。上海出台二十条措施，鼓励外商投资企业境 内再投资；北京将用好中国国际服务贸易交易会、中关村论坛、金融街论坛、北京文化论坛等开放平 台，吸引更多优质外资项目落地；广西南宁打造南A东盟谷，逾20个项目集中签约……在持续发展、市 场开放的中国，外企必须拿出看家本领才能站稳脚跟。 如今，外企来华的"老故事"不断上演"新剧情"：布局方向变了，盯着高技术产业深耕；投资心态变了， 不再只简单开厂生产。但故事的逻辑始终不变——与中国同行就是与机遇同行，投资中国就是投资未 来。（中国经济网评论员 子房先生） 真金白银的流向是风向标。比如，服务业实际使用外资5451.2亿元，占了总额的大头。这印证了我国超 大规模市场优势——14亿多人口、4亿多中等收入群体，蕴含消费升级的巨大潜力，为外资投资兴业、 抢占先机提供了"黄金赛道"。又如，制造业实际使用外资1855.1亿元。我国拥有全球最完整的工业门类 与供应链网络，从基础材料到精密部件，从研发试制到规模生产，全链条都能配套。产业互补是合作的 基础，我国市场的创新生态和速度优势，让中外合作的绑定更紧密。 更值得关注的是，"明星赛道"的 ...

社科院金融所报告显示，2025年中国经济部分领域供需关系有所改善，物价温和回升但仍低位运行，供强需弱的矛盾依然突出。当前处在新旧 动能转换的攻坚期，商品零售、传统房地产和基建投资增长放缓，但服务消费、高技术产业投资等新兴动能积厚成势，有利于增强经济上行动 力。 在经济转型的攻坚期，新旧动能的迭代更替成为中国经济最鲜明的特征。供给端优化升级成效显著，2025年7月以来，多部委通过调研座谈、 协会倡议等方式，推动光伏、新能源汽车、互联网平台等领域"反内卷"，有效带动制造业景气度回升。制造业PMI生产指数升至51.7%的扩张 区间，新订单指数时隔半年重回扩张区间，服务业商务活动指数也环比微升0.2个百分点至49.7%，景气度小幅改善。 21世纪经济报道记者张欣 1月26日，中国社科院金融研究所（以下简称"社科院金融所"）召开中国宏观金融分析2025年第四季度发布会暨研讨会。会上发布的报告对 2025年四季度及全年中国宏观经济与金融形势进行了全面解读，同时围绕2026年中国经济发展路径提出了针对性建议。 2025年收官落幕，中国经济在复杂多变的全球环境中交出了一份稳中有进的答卷。全年GDP总量首次跃上140万亿元新台 ...

越来越多跨国公司意识到，在中国市场的成功布局关乎其全球竞争力。正如一些外资企业负责人所言， 中国市场已成为"全球健身中心"，在这里经受住考验，才能在全球市场中脱颖而出。这种认知推动外资 企业更加注重在华研发投入和创新布局，从最初的技术转让、代工生产，转向联合研发、共建产业生 态，合作模式的升级折射出中国机遇的变迁。 中国吸引外资的综合优势正在发生深刻变化。完备的产业体系、持续优化的创新环境、丰富的应用场景 以及超大规模市场优势，构成了当前中国吸引外资的核心竞争力。毕马威2025年12月发布的一份报告显 示，大多数行业的跨国企业对未来3年至5年在中国的收入增长前景持更为乐观的态度；94%的受访企业 表示会继续投资中国市场。许多外资企业认为，中国不仅是重要的市场，更是全球创新的源头和驱动增 长的核心引擎。中国在跨国公司全球布局中的定位正在发生质的提升。 面对"十五五"时期的新机遇，秉持长期主义正成为越来越多外资企业把握中国机遇的关键。一方面，诸 多外资企业紧跟中国经济转型步伐，重点关注数字经济、绿色低碳、人工智能、生物医药等新兴领域的 发展动向，这些领域既是中国培育新质生产力的重点，也是"机遇清单"中的核心内容。 ...

● 本报记者 王舒嫄 熊彦莎 商务部近日发布数据显示，2025年，全国新设立外商投资企业70392家，同比增长19.1%。实际使用外 资金额7476.9亿元人民币，引资结构不断优化，服务业实际使用外资5451.2亿元人民币。 专家认为，今年稳外资政策料接续加力，缩减外资准入负面清单，实施好新版鼓励外商投资产业目录， 促进外资境内再投资，推动更多标志性项目落地。同时，不断优化引资结构，深入挖掘服务业引资新增 长点。 值得一提的是，从来源地看，2025年瑞士、阿联酋、英国实际对华投资分别增长66.8%、27.3%、15.9% （含通过自由港投资数据）。 近日，多个中国外商投资企业协会和外资企业负责人表示，中国超大规模市场活力强劲，营商环境持续 优化，对在华发展前景充满信心，愿扩大在华长期投资。 美中贸易全国委员会会长谭森表示，美国商界愿支持中国高质量发展，拓展互利共赢领域。中国欧盟商 会主席彦辞表示，中国欧盟商会及其会员企业将继续为促进中国长期可持续经济增长发挥建设性作用。 在商务部近日召开的英资企业圆桌会上，与会英资企业表示，中国市场潜力巨大，营商环境不断优 化，"十五五"规划进一步增强其在华长期投资经营的信心 ...