| With the deepening of economic globalization,FDI,as the most significant form of expression,plays an important role in promoting the development of economic globalization.Under the background of “The Belt and Road” initiative and the "Made in China 2025" plan,the improvement of the international development level of manufacturing industry has become an important task for the development of our country.As the main component of the manufacturing industry,the automobile industry has a strong correlation and driving effect to the related industries.It has become a pillar industry in the economic structure of all developed countries in the world.China is a big car country with the world’s first car market,Since the birth of the auto industry,has experienced the course of development from scratch and from small to large.especially since the entry of WTO,Through joint venture cooperation with well-known foreign enterprises and relying on the broad auto market in China,China’s auto industry has been growing faster than ever before.However,As the major multinational joint venture auto companies accelerate their production capacity in China,the domestic independent brands are also accelerating the pace of expansion.At present,the growth of the automobile market in China has slowed down gradually,and the contradiction of overcapacity will be further intensified.The international market environment,national strategic orientation,and its own development needs,all of them are promoting the exploration of Chinese automobile enterprises to expedite going out and carry out FDI.It has become an important direction for the future development of China’s auto enterprises to acquire overseas high quality assets and advanced technology and to learn advanced overseas management ideas and management models,absorb outstanding international and innovative talents and enhance the international competitiveness of Chinese automobile brands.Access to overseas high quality assets and advanced technology,Learning overseas advanced business philosophy and management mode,absorbing outstanding international and innovative talents,and enhancing the international competitiveness of Chinese automobile brand has become an important direction for the future development of Chinese automobile enterprises.Based on the theoretical research of FDI,this paper systematically reviews the theoretical results of FDI in developed countries and developing countries,combined with the development needs of Chinese automobile enterprises’ FDI,this paper analyzes and summarizes the literature achievements of the domestic and foreign scholars on the mode choice,location choice and strategic choice of enterprises’ FDI,it comprehensively analyzes and extracts the theoretical system suitable for the development of Chinese automobile enterprises’ FDI,and lays a solid theoretical framework for further research on the practice of Chinese automobile enterprises’ FDI.By reviewing the development process of Chinese automobile enterprises,combined with the characteristics of different time,they are divided into four stages: basic development,comprehensive upgrading,rapid development and extroverted exploration.At the same time,the production,exploration and development of the FDI of Chinese automobile enterprises are also discussed.This paper systematically summarizes and analyzes the development practice of Chinese automobile enterprises’ FDI,which is ranked ahead and has been directly invested in Chinese automobile market.The common and different characteristics of Chinese automobile enterprises in the process of FDI development are found,such as the common characteristics: The development speed of Chinese automobile enterprises’ FDI is fast,but it is still at the initial stage of development;The Chinese automobile enterprises’ FDI has the basis of international export and trade,and there is a complementary relationship with the export trade;Chinese auto enterprises have paid attention to the acquisition and upgrading of technology,and set up R & D institutions abroad to support the sustainable development of the competitiveness of the enterprises;The effect of national policy orientation on the direction and progress of FDI is more obvious.The main characteristics of the difference are as follows: the main body of FDI in Chinese automobile enterprises is pluralistic and the degree of development is not balanced;Based on the different relative advantages of the Chinese automobile enterprises,the mode choice and the location choice of the FDI are different;The degree of formulation of FDI strategy of Chinese automobile enterprises is different.Some enterprises still take market opportunity oriented outward direct investment,and lack of long-term competitive strategies and development goals.Based on the theory and classification of outward FDI mode,this paper analyzes the current situation and evolution of Chinese automobile enterprises’ FDI mode.The basic mode of Chinese automobile enterprises’ FDI is divided into productive and nonproductive mode of overseas investment model,and further subdivides the three levels of FDI mode and eight types,analyses the types and characteristics of Chinese automobile enterprises’ FDI in the model.This paper constructs a hierarchy analysis framework for the selection of Chinese automobile enterprises’ FDI mode,and elaborates twelve key factors that affect the choice of investment mode based on the three perspectives of home country,host country and enterprise.Through sorting out the location distribution of overseas enterprises,cross-border mergers and acquisitions and overseas R & D centers in the past more than 20 years,the main characteristics of location selection of Chinese automobile enterprises are analyzed.The theory of international production compromise(OLI paradigm)has been expanded,From the four dimensions of ownership advantage,internalization advantage,location advantage and comprehensive advantage,this paper expounds and analyzes thirteen important factors that influence the location choice of Chinese automobile enterprises’ FDI.and selects the nine factors in addition to their own factors of China automobile enterprise investment target regions mainly invested in,analies of the location selection advantages of 17 countries including Asia,Europe,Africa,Latin America and North America.This paper systematically studies the theories,development status and analysis models of FDI strategy of Chinese automobile enterprises,and makes a comprehensive theoretical analysis of the international competitiveness of Chinese automobile enterprises.First of all,from the three levels of the state,industry and enterprise,the current situation of the development of the FDI strategy of Chinese auto industry is summarized and analyzed.It is found that the degree of formulation of Chinese FDI strategy is still at the initial stage,and the main FDI strategies of main automobile enterprises are mainly guided by market interests,and lack of long-term strategic layout and systematic scientific analysis.Secondly,based on the analysis and summary of the theory of enterprise strategy,we integrate the classic enterprise strategy theory with modern enterprise strategy theory to achieve the theoretical complement of the two theories,and build a SWOT analysis model based on diamond theory.The international competitiveness of Chinese automobile industry is systematically analyzed and demonstrated from five dimensions: production factors,demand conditions,related and supportive industries,business strategy,structure and performance of competitors,and government policies.With the growth of FDI and the changing international environment,the study of risks and Countermeasures of outward direct investment will help to promote the expected profit of Chinese automobile enterprises’ outward FDI.On the basis of FDI risk classification,this paper expounds the Chinese automobile enterprises’ FDI risk,government policy risk,human resource risk and decision-making risk and other key risk,combined with the Chinese automobile enterprises’ FDI risk analysis of typical cases,provide useful inspiration for deal with the risk of Chinese automobile enterprises’ FDI.Based on the analysis above,around Chinese automobile enterprise FDI mode choice,location choice,strategic choice and the main risk,this paper expounds the principles and suggestions for reference of FDI from the government,industry,enterprises and other dimensions of integration.At the end of the paper,this paper summarizes the research of Chinese automobile enterprises’ FDI,and looks forward to the direction of future research under the new development trend. |
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