毕马威：风投脉搏-中国经济监测：2018年第四季度（46页）.pdf

1、0 2015 KPMG,a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rightsreserved. China Economic Monitor Q4 2018 November 2018 Executive summary Economic outlook Production

2、growth weakened and economic activities remained largely stable Growth in manufacturing investment rebounded, and infrastructure investment is expected to stabilise Consumption growth dragged down by sluggish automobile sales Corporate financing remained tight and inflation pressure muted Export gro

3、wth expected to slow and RMB depreciation pressure lingering Policy review Shanghai-London Stock Connect set to open soon E-commerce Law passed CRS information exchange initiated in Mainland China Regulation passed to further reduce debt levels of SOEs Special topic: CFIUS reform and Chinese investm

4、ent in the US Review of changes in Chinese direct investment in the US Breakdown of CFIUS reviews of direct investment by Chinese enterprises Overview of key CFIUS reform measures Implications for Chinese companies investing in the US Contents 11 2 2 3 3 2 4 5 8 10 12 14 15 16 20 23 29 32 34 37 39 4

5、2 43 Appendix: Key indicators 2 2018KPMG,a China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rightsreserved. Both external and domestic environment remains challenging in Q3. T

6、he escalation in US-China trade frictions brought more uncertainty, increasing overseas concerns about growth momentum of the Chinese economy. Although downward pressure has increased, Chinas economic performance has remained largely stable. GDP grew by 6.5% in Q3 and 6.7% year to date, ahead of the