自日本在中国全面展开投资已经过数十年的岁月。综合商社，作为日本独特的跨国企业形式，英文通常被翻译为General Trading Company但其业务范围远远超过文字上的含义。不仅集物流、金融、信息等机能于一身，还从事进出口贸易、国内外投资等多样化经营。综合商社结合历史、经济、政治因素经过不断的重组和调整，在日本近代经济发展中起了不可或缺的作用，同时也积极发展着在华业务。三菱商事作为代表性的综合商社，在日本国内和海外约90个国家拥有200多个分支机构。本文以日本企业的在华投资为起点，主要以三菱商事为例，对综合商社的形成与发展、其独特的经营活动进行了梳理和分析，提供对综合商社深入认知的材料，并且探讨了今后在华的发展战略。首先，本文从历史的角度追溯日本企业在华投资的发展过程，并立于日本企业的观点比较了中国与其他发展中国家作为投资目的地的利弊。其次，本文详细介绍了综合商社自明治维新以来的历史性演进，通过解剖三菱商事的发展过程发掘其经营模式的多样化以及价值链的演变，进而明晰核心竞争力。最后，对现阶段综合商社在华面临的挑战和机遇进行分析，结合最新的中国政府宏观经济政策，进一步探讨三菱商事今后在华发展的关键因素，为了制定新战略进行了研究。

It has been decades since Japan kicked into gear for foreign investment in China. Sogo Shosha, a uniquely Japanese business form being translated as “general trading company” in English but acting as a further complex organization that rarely found in other countries, has developed along with Japanese modern economic growth and has been expanding its business in China. Mitsubishi Corporation is Japanese Sogo Shosha operating overseas trading and investments across virtually every industry, with over 200 offices and subsidiaries in approximately 90 countries worldwide. The purpose of this study is to explore the way and strategy for Mitsubishi Corporation to achieve further development in China. This paper reviews the history of foreign investment from Japan to China, identifies the pros and cons as an investment destination for Japan compared to other emerging countries. This paper is a guidance to understand who is Sogo Shosha, what do they do and how they have played a significant role in Japanese economy. The study also explores the latest Chinese governmental economic policies, and concluded with some insights and the key factors for Mitsubishi Corporation to consider in terms of future partnership in China.