这是全球领先的生物制药企业阿斯利康在山东青岛吸入气雾剂生产供应基地，该基地总投资额达七点五 亿美元。新华社记者 李紫恒摄 近日，经国务院同意，国家发展改革委、商务部全文发布《鼓励外商投资产业目录（2025年版）》（以 下简称《鼓励目录》），自2026年2月1日起施行。 《鼓励目录》是中国重要的外商投资促进政策，也是重要的外资产业和区域政策。修订出台新版《鼓励 目录》，是更大力度吸引和利用外资的重要举措。分析普遍认为，《鼓励目录》给外资企业坚定投资中 国增添更多信心。 2026年，中国将对外资企业释放怎样的"磁吸力"，外资企业在中国将获得怎样的新机遇？本报采访中国 现代国际关系研究院副院长张健和中国人民大学重阳金融研究院研究员刘英，对相关问题进行解读。 信心持续增强，结构加速调整 外资企业在华投资总体呈现质升量稳的特征。向高技术产业和以研发中心、创新中心为代表的高技术服 务业倾斜，成为外资企业在华投资的新趋势 【观察】 全球知名会计师事务所毕马威日前发布调查报告《2025年跨国企业中国展望》显示，2025年在中国运营 的跨国企业中，有3/4维持或增加了投资。 该报告还显示，除多数企业维持或加码投资外，本地化布局 ...

Core Viewpoint - The article emphasizes that the midstream sector is currently the standout performer in terms of profit growth and revenue, contrasting with the overall decline in industrial profits [4][5][24]. Group 1: Midstream Sector Performance - In November, the midstream sector showed a profit growth of 6.77%, the only sector with a positive growth rate among five sectors, while upstream and downstream sectors experienced declines of -9.52% and -48.04% respectively [5][13]. - The revenue growth for the midstream sector in November was 4.66%, outperforming other sectors [5][13]. - The equipment manufacturing sector, particularly in electronics, aerospace, and smart devices, significantly contributed to the midstream sector's profit growth, with specific industries seeing profits increase by 57.4% and 54.0% respectively [5][29]. Group 2: Overall Industrial Profit Data - In November, the overall profit of industrial enterprises decreased by 13.1%, a decline from the previous value of -5.5% [24]. - The inventory level as of November showed a year-on-year increase of 4.6%, up from 3.7% [24]. - The profit growth rates for state-owned enterprises, private enterprises, and foreign enterprises were -17.0%, -12.6%, and -7.3% respectively [24]. Group 3: Quantity and Price Analysis - The midstream sector's value-added growth rate in November was 7.36%, higher than the overall industrial growth rate of 4.8% [6][15]. - The Producer Price Index (PPI) for the midstream sector turned positive in November, marking the first month of positive growth since June 2024, with a month-on-month increase of 0.04% [7][18]. - The profit margin for the midstream sector in November was 5.7%, which is an improvement compared to the same period last year [7][18]. Group 4: Supply and Demand Dynamics - The supply-demand dynamics for the midstream sector have been improving, with a favorable difference between demand and investment growth rates compared to upstream and downstream sectors [8][22]. - The article predicts that midstream prices are likely to continue to recover, leading to further profit increases in the sector [8][22].

Group 1 - China's actual use of foreign investment increased by 26.1% year-on-year in November, with a total of 61,207 new foreign-invested enterprises established in the first 11 months, marking a 16.9% increase [1] - By the end of June this year, China's actual use of foreign investment during the "14th Five-Year Plan" period reached $708.73 billion, achieving its target six months ahead of schedule [1] - The resilience and improving structure of China's foreign investment attraction are evident, making it a favored destination for foreign capital [1] Group 2 - In the first 11 months of this year, actual foreign investment in China's high-tech industries reached 221.26 billion yuan, significantly contributing to the total foreign investment [2] - The e-commerce service industry, medical instruments and equipment manufacturing, and aerospace manufacturing saw foreign investment growth rates of 127%, 46.5%, and 41.9% respectively, indicating a shift towards higher-quality investment [2] - Foreign companies are increasingly recognizing opportunities in China, with significant investments in artificial intelligence, new energy, biomedicine, and green transformation sectors [2] Group 3 - The core attractions for foreign investment in China include an open innovation ecosystem, a complete industrial system, and rich application scenarios [3] - From 2013 to 2023, R&D expenditures by multinational companies in China increased by 86.5%, reflecting a shift from technology transfer to joint R&D and co-building industrial ecosystems [3] - The "14th Five-Year Plan" suggests new deployments to create new advantages in attracting foreign investment, with an improving business environment and high-quality development expected to provide broader opportunities for foreign enterprises [3]

Group 1 - China's actual use of foreign investment increased by 26.1% year-on-year in November, with a total of 61,207 new foreign-invested enterprises established in the first 11 months, marking a 16.9% increase [1] - By the end of June, China's actual use of foreign investment during the 14th Five-Year Plan period reached $708.73 billion, achieving its $700 billion target six months ahead of schedule [1] - The resilience and improving structure of foreign investment in China are evident, making it a favored destination for foreign capital despite global challenges [1] Group 2 - In the first 11 months, actual foreign investment in China's high-tech industries reached 221.26 billion yuan, significantly contributing to the total foreign investment [2] - The e-commerce services, medical instruments manufacturing, and aerospace equipment manufacturing sectors saw foreign investment growth rates of 127%, 46.5%, and 41.9%, respectively [2] - Foreign companies are increasingly recognizing opportunities in China, with significant investments in artificial intelligence, new energy, biomedicine, and green transformation sectors [2] Group 3 - The core attractions for foreign investment in China include an open innovation ecosystem, a complete industrial system, and rich application scenarios [3] - From 2013 to 2023, R&D expenditures by multinational companies in China increased by 86.5%, reflecting a shift from technology transfer to joint R&D and co-building industrial ecosystems [3] - Companies like Schneider Electric and Bayer are leveraging China's innovation capabilities, with significant contributions to global product development and market applications [3]

具体来看，前11个月，我国实际使用外资金额6931.8亿元，同比下降7.5%，较前10个月降幅收窄2.8个百分点。 央视网消息：中国商务部数据显示，11月份，中国实际使用外资同比增长26.1%，实际使用外资金额和新设立外商投资企业数量 均保持较快增长，显示中国仍然是受外资企业青睐的投资目的地。 引资结构持续优化。前11个月，生产性服务业实际使用外资占全国实际使用外资比例为63.5%，较2024年同期提高4.7个百分点； 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127%、46.5%、41.9%。 新设立外商投资企业数量保持较快增长态势。前11个月，全国新设立外商投资企业61207家，同比增长16.9%；11月当月新设立外 商投资企业7425家，同比增长35.3%。 引资来源地更加多元化。瑞士、阿联酋、英国实际对华投资同比分别增长67%、47.6%、19.3%。 ...

Economic Overview - In November, the national economy continued to show a stable and progressive development trend, with a focus on implementing proactive macro policies and promoting high-quality development [2][6] - The total grain production for the year is expected to exceed 1.4 trillion jin, with a year-on-year increase of 1.2% [2] Industrial Production - The industrial added value above designated size increased by 4.8% year-on-year in November, with a month-on-month increase of 0.44% [3] - The equipment manufacturing industry and high-tech manufacturing industry saw significant growth, with increases of 7.7% and 8.4% respectively [3] - The production of 3D printing equipment, industrial robots, and new energy vehicles grew by 100.5%, 20.6%, and 17.0% year-on-year respectively [3] Retail Sales - The total retail sales of consumer goods reached 43,898 billion yuan in November, a year-on-year increase of 1.3% [4] - Online retail sales amounted to 144,582 billion yuan, with a year-on-year growth of 9.1%, and physical goods online retail sales accounted for 25.9% of total retail sales [4] - Service retail sales grew by 5.4% year-on-year, with significant growth in cultural, sports, and travel services [4] Fixed Asset Investment - Fixed asset investment (excluding rural households) decreased by 2.6% year-on-year from January to November, while manufacturing investment increased by 1.9% [5] - Infrastructure investment fell by 1.1%, and real estate development investment dropped by 15.9% [5] - Investment in high-tech industries, such as information services and aerospace manufacturing, saw significant increases of 29.6% and 19.7% respectively [5] Policy Impact - A series of proactive macro policies have effectively supported stable economic operations, leading to expanded consumer demand and increased key investments [7][8] - The implementation of consumption upgrade policies has resulted in significant sales growth in home appliances and communication equipment [8] - The industrial production growth was supported by policies promoting market demand and industrial upgrades [8] Price Trends - The Consumer Price Index (CPI) rose by 0.7% year-on-year in November, marking a continuous recovery trend [9] - The Producer Price Index (PPI) showed a month-on-month increase of 0.1%, indicating a narrowing decline trend since August [10][11] Long-term Economic Outlook - The resilience of the economy remains strong, with macro policies providing robust support and new growth drivers emerging [12][13] - The expansion of market demand and the continuous growth of new economic drivers are expected to positively impact economic development [12][14] - The upcoming economic policies aim to enhance domestic demand and optimize supply, ensuring a solid foundation for future growth [14]

适当增加中央预算内投资规模，优化实施"两重"项目。 12月10日至11日举行的中央经济工作会议部署明年经济工作重点任务时提出"坚持内需主导，建设强大 国内市场"，并明确"推动投资止跌回稳"。 会议表示，推动投资止跌回稳，适当增加中央预算内投资规模，优化实施"两重"项目，优化地方政府专 项债券用途管理，继续发挥新型政策性金融工具作用，有效激发民间投资活力。 受房地产市场继续调整、国内市场竞争加剧、投资收益下降等多方面因素影响，我国固定资产投资增速 自9月起转为负增长，10月降幅进一步扩大。 近段时间以来，5000亿规模新型政策性金融工具投放完成、新增2000亿元专项债券额度专门用于支持部 分省份投资建设、基础设施REITs扩容、民间投资13条出炉等一系列稳投资政策密集落地，将有力支撑 投资增速止跌回稳。 投资潜力和空间依然很大 今年1-10月份，全国固定资产投资（不含农户）408914亿元，同比下降1.7%。其中，民间固定资产投资 同比下降4.5%。从环比看，10月份固定资产投资（不含农户）下降1.62%。 国家统计局新闻发言人付凌晖分析，投资增速放缓是多方面因素共同作用的结果。从投资主体看，外部 环境复杂严峻 ...

Group 1 - The core viewpoint emphasizes the importance of effective investment in driving economic growth, with a focus on reducing ineffective and blind investments while balancing financial, economic, and social benefits [1][2][3] - In 2023, a total of 800 billion yuan has been allocated to support 1,459 projects, including ecological restoration in the Yangtze River basin and improvements in national logistics hub planning [1] - Fixed asset investment has shown slight growth from January to October 2023, with manufacturing investment increasing by 2.7% year-on-year, and specific sectors like aerospace and information services showing significant growth rates of 19.7% and 32.7% respectively [1] Group 2 - The focus for future investments should be on major infrastructure, technological innovation, and green low-carbon transitions, particularly in areas like energy storage and water management [2] - Effective investment aims to enhance public welfare, with a long-term view on economic benefits, emphasizing the importance of investing in education, health, and skills development to boost consumption potential [2] - The government is encouraged to collaborate with the market to enhance effective investment, with recent policies aimed at increasing private investment through expanded access and addressing bottlenecks [3]

Core Insights - The article highlights the emerging trend of foreign investment in China's technology sector, particularly focusing on eight "dark horse" companies that have attracted significant foreign capital due to their alignment with national policies and strong R&D capabilities [1][3][7] Group 1: Foreign Investment Trends - In the first nine months of 2023, nearly 49,000 new foreign-invested enterprises were established in China, marking a year-on-year increase of 16.2%, despite a slight decline in overall foreign capital utilization [1] - High-tech industries, particularly e-commerce services and aerospace manufacturing, saw foreign investment growth rates of 155.2% and 38.7%, respectively [1] Group 2: Selection of Companies - The eight companies that attracted foreign investment are all positioned in hard technology sectors, aligning with the Chinese government's 2025 foreign investment stabilization policy [3] - Notable investments include Bosch's 10 billion yuan project in Suzhou for smart driving technology and Roche's 380 million Swiss franc investment in a research and production base in Suzhou, focusing on medical devices [3][4] Group 3: R&D Capabilities - All eight companies have established R&D centers in China, receiving official recognition as foreign R&D centers, which enhances their attractiveness to foreign investors [3][4] - Companies like Trumpf and Crown Bioscience have developed comprehensive R&D platforms that cater to both local and global markets, demonstrating a strong commitment to innovation [4][5] Group 4: Local Supply Chain Integration - The companies have built robust local supply chains, ensuring they are not merely "shell R&D" operations but are deeply rooted in the Chinese market [5][6] - For instance, companies like Suzhou New Wave Biotechnology and Mettler-Toledo have integrated their R&D and production capabilities to respond quickly to local market demands [5] Group 5: Investment Confidence - Significant investments from foreign companies, such as Danfoss's 2.7 billion yuan investment in a zero-carbon industrial park, reflect strong confidence in the Chinese market [6] - The Chinese government's policies, including the removal of restrictions on foreign investment companies and support for innovative medical products, provide a stable environment for long-term foreign investment [6][7]

本报北京11月22日电 （记者罗珊珊）记者从商务部获悉：今年前10月，全国新设立外商投资企业53782 家，同比增长14.7%；实际使用外资金额6219.3亿元。 从行业看，制造业实际使用外资1619.1亿元，服务业实际使用外资4458.2亿元。高技术产业实际使用外 资1925.2亿元，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173.1%、41.4%、40.6%。 关注公众号：人民网财经 从来源地看，阿联酋、英国、瑞士实际对华投资同比分别增长48.7%、17.1%、13.2%（含通过自由港投 资数据）。 《 人民日报 》（ 2025年11月23日 01 版） (责编：胡永秋、杨光宇) ...