A Study On The Reverse Technology Spillover Effect Of Cultural Distance On China’s Foreign Direct Investment Based On RCEP Analysis

With more and more Chinese enterprises "going global",the importance of OFDI in promoting the supply-side structural reform under the new normal of economic development cannot be underestimated.The report of the 19 th National Congress of the Communist Party of China proposed to "make China a leading country in overall national strength and international influence by the middle of the century".To realize this lofty and ambitious ideal,China’s foreign investment enterprises need to have excellent technical skills.It is far from enough for enterprises to rely only on increasing investment in scientific and technological research and development,and continuous innovation is also needed.In the process of OFDI,enterprises can obtain advanced technologies and talents with high professional quality from the host country to improve their innovation ability.Under the impetus of "going global" strategy and "One Belt And One Road" initiative,China is gradually becoming the main driving force of transnational direct investment in the world,and the investment has realized the transformation from resource acquisition type to technology leading type.In the process of optimizing industrial structure and realizing technological progress,reverse technology spillover,the technological externality generated by OFDI,plays a vital lubrication role.As the scale of China’s foreign direct investment expands little by little,the factors influencing reverse technology spillover have become the focus of many scholars.The signing of the RCEP can make China’s economic recovery form continue to be favorable,but also stabilize China’s foreign trade and foreign investment,so that China can maintain high-quality development.In previous studies,most scholars have proved the existence of reverse technology spillovers brought about by OFDI.Then,what factors will have an effect on China’s acquisition of reverse technology spillovers? The difference between the home country and the host country of investment has attracted more and more scholars’ attention in recent years.Cultural difference is one of the basic factors between countries.This paper uses cultural distance to measure the cultural difference and empirically tests the influence of this difference on China’s acquisition of reverse technology spillover.Through reading related literature both at home and abroad and the measuring methods of,and understand that in the existing literature on reverse technology overflow transmission mechanism analysis method,this paper focuses on OFDI way,our country wants to get reverse technology overflow by national cultural distance factors,the use of a large number of related data to prove.The result of many things are under the influence of many factors work together to form,so this article joined with RCEP countries trade in our country,the host country inflation rate,GDP per capital of host country,host country whether these indicators for developed countries to study the effects of cultural distance on the technology spillovers,and because any form of economic cooperation will be affected by the transaction cost,this paper,through empirical analysis on the transaction cost of how its impact.The analysis proves that the coefficient between cultural distance and reverse technology spillover obtained through OFDI in China is significantly negative,and the inhibiting effect of expression is mainly affected by transaction cost.Among other influencing factors,per capital GDP of the host country,bilateral trade volume between China and other RCEP countries,and economic development degree of the host country have a positive effect on China’s acquisition of OFDI reverse technology spillover,while the inflation rate of the host country has a inhibiting effect on China’s acquisition of OFDI reverse technology spillover.