日本外资管理制度的演变及新动向

The Development and New Trends of Japan’s Foreign Investment Management System

战后日本外资管理制度经历了严格管控外汇外资时期、推进资本自由化时期和重新确立管理制度时期等三个历史阶段。2017年以来,日本三次修改《外汇法》,使得日本外资管理制度发生了重大改变,总体呈现出审查对象范围扩大化、外资管理精细化、管理制度完备化等三大特点,标志着日本外资管理制度进入新的发展时期。日本政府此番修改外资管理制度主要出于三大战略考量,即:防止重要技术外泄、维持本国科技领先地位,加强综合安全保障能力、应对全球不确定性挑战,顺应自由化改革要求、吸引外国资本投资。受日本外资管理政策收紧的影响,中国对日投资将呈现短期严重受阻、长期曲折发展的总体态势,涉及重点领域的对日投资或将受到日本政府更为严苛的管制。

Since the end of WWII,Japan’s foreign investment management system has gone through three historical stages:the period of strictly controlling foreign investment,the period of promoting capital liberalization and the period of re-establishing the management system.Since 2017,Japan has revised the Foreign Exchange Law three times,resulting in significant changes in Japan’s foreign investment management system,which generally presents three characteristics,such as the expansion of the scope of review objects,the refinement of foreign investment management,and the completion of the foreign investment management system,marking a new period of development of Japan’s foreign investment management system.The Japanese government’s revision of the foreign investment management system is mainly based on three strategic considerations:preventing the leakage of important technologies,maintaining the country’s leading position in science and technology,strengthening the comprehensive security capability,coping with global uncertainties and challenges,complying with the requirements of liberalization and reform,and attracting foreign investment.Affected by Japan’s tightening of foreign investment management policies,China’s investment in Japan will be severely hindered in the short term and develop tortuously in the long term.China’s investment in key areas may be subject to more stringent control by the Japanese government.