在今年之前，我们做的更多是宏观与策略层面的分析报告，核心都是在回答一个问题：“值不值得出海？要不要在美国投资建厂？” 这些报告帮助企业家判断“干还是不干”。而从这一系列开始，我们默认一个前提——企业已经基本做出了“要干”的战略选择，现在要集中解决的，是 “决定了干之后，应该怎么干、怎么干得更稳、更快、更少踩坑。”
Before this year, most of our work focused on macro-level and strategic analysis, essentially answering one question: “Is it worth going overseas? Should we invest in building a plant in the U.S.?” Those reports were meant to help entrepreneurs decide whether to act at all. With this new series, we assume a different premise — that companies have broadly decided “yes, we will do it.” The focus now shifts to a new question: “Once the decision is made, how exactly should we execute — more steadily, more efficiently, and with fewer missteps?”

本报告是“赴美投资与本土化”系列中的第一篇，重点聚焦顶层资金安排与海外架构设计，为后续关于建厂实操层面（“人、机、料、法、环”五大条件）的报告提供基础框架。
This report is the first in a series on “Investment and Localization in the U.S.” It focuses on top-level capital planning and overseas structuring, and provides the foundational framework for subsequent reports that will address practical plant-construction issues through the five-factor lens of People, Equipment, Materials, Methods, and Environment.

本报告在系统梳理 2022–2025 年中日政治关系与经贸往来的基础上，结合公开数据、行业研究、企业年报及最新事件（包括 2025 年 11 月台湾局势相关争端升级、中国军方对日本发出“若越界将付出痛苦代价”的强硬警告），重点分析日本“经济安全”战略下对华政策的调整方向，以及丰田、索尼、日立等主要日系企业在华与全球布局的最新变化，并评估其中对中国产业结构、供应链安全和企业战略的影响。

Based on a systematic review of China–Japan political relations and economic ties from 2022 to 2025, this report combines public statistics, industry research, corporate annual reports, and recent events—including the escalation of tensions over Taiwan in November 2025, when China’s military warned Japan it would “pay a painful price” if it crossed certain red lines. It focuses on how Japan’s “economic security” strategy is reshaping its China policy, analyzes the latest changes in the China and global layout of major Japanese corporations such as Toyota, Sony, and Hitachi, and assesses the implications for China’s industrial structure, supply-chain security, and corporate strategy.

在《中日关系最新演变及其对中国产业的影响》报告一中，我们从宏观层面分析了中日政治与经贸关系的演变，以及主要日系企业在华与全球布局的最新动向。总体结论是：日本在国家安全与高科技领域对华明显收紧，但在制造与消费领域仍保持较高经贸依存度，并通过“China+1”战略降低对中国单一制造基地的依赖。

In Report 1, we analyzed the evolution of China–Japan political and economic relations and the latest moves of major Japanese companies in China and worldwide. In summary, Japan has clearly tightened its stance toward China in national security and high-tech fields, while maintaining a high degree of economic dependence on China in manufacturing and consumption, and is reducing dependence on China as a single production base via a “China+1” strategy.

本报告面向中国汽车及相关供应链企业的负责人及团队，系统梳理特斯拉（Tesla）与通用汽车（GM）近期被报道的“限期减少或剥离中国零部件”的举措，结合美国关税、税收补贴与安全审查新规，对未来 3–5 年中美供应链格局进行趋势研判，并提出针对中国企业的出海与本地化布局建议。
This report is intended for the board chairs, CEOs, and senior executives of Chinese automotive and related supply chain companies. It systematically reviews recent reports that Tesla and General Motors (GM) are asking suppliers to reduce or eliminate China-sourced parts within specified deadlines, and it connects these developments with new U.S. policies on tariffs, tax credits, and security reviews to forecast the U.S.–China supply chain landscape over the next 3–5 years and propose overseas and localization strategies tailored to Chinese firms.