Research On The Development Of Chinese Local Multinational Companies

With the growth of China's economy,China's multinational companies are increasingly becoming an important part of international multinational companies.At present,China is entering the "new normal",the Chinese government has adopted a series of strategic initiatives,for example,China(Shanghai)pilot free trade zone,"the Belt and Road Initiatives" strategy.With these strategic initiatives,it is very important to cultivate a number of internationally competitive China's multinational companies.Now,compared todeveloped countries,China's multinational companies are still lack of competitiveness.So,how to accelerate the development of China's multinational companies will be an important research direction.Now,the theory of multinational companies is mostly services for the multinational companies in developed countries,and it is not very instructive for thelatecomer multinationals.In the theory of latecomer multinationals,3L-3E theory is more widely used.But this theory has limitations to explain China's multinational companies.The development of multinational corporations in China is very large different from developed countries,including the development environment,conditions and stages.The multinationals of developed countries rely on strong technical advantages and market advantages,and the multinationals of developed countries are the main driving forces of globalization.China is an important undertaking of multinationalcompanies in developed countries.The basic conditions and objectives are different from those of developed countries.At the same time,the global new industrial revolution is forming a new technology and a new industrial development pattern,for example,the TPP and other global trade rules.China's multinational companies will face a more complex international environment.Therefore,this paper focuses on the development of China's multinational companies,exploring and expanding the theory of multinational companiesand constructing the path of China's multinational companies' development.I believe that China's unique development environment has a profound impact on China's multinational companies,it is necessary to improve the multinational companies theory(3L-3E theory).First,after the financial crisis multinational companies of developed countries is becoming to limit the latecomer multinationals to upgrade to the high-end,which requires China's multinational companies to expand the"Linkage"connotation.Second,the new industrial revolution has promoted the escalation of the global value chain,and the multinational companies control the industrial chain with the new network platform.This new platform focuses on the control of network platform nodes.The multinational companies must control these nodes to make profits,which is prompting the "Linkage" to the "Network".At the same time,based on the opportunities in emerging areas,multinational companies will have more development resources,will occupy a certain advantage in the profit distribution in the cooperation with developed countriesmultinational companies,promoting the "Equipoise" upgrade to "Stability".Third,with the "new normal"background,China'smultinational companiesneed to "Learning" more,including"Depth learning","Learning by doing" and "Localization",to promot "Endogenous" to"Integration".According to the above theory,in view of the lack of international experience,social service system,and innovation ability,I have constructed the growth path of China's multinational companies:based on the "New Normal" background,implementing "Bidirectional Advance" strategic,using "Triple Helix Integrated" to improve the core competencies of multinational companies,focusing on "Four strategies".Meanwhile,I make an empirical test.The results show that the improvement of the institutional environment,the promotion of social services,the scale of enterprises,the R&D investment,the enterprise financing ability and the increase of the enterprise age are all beneficial to the improvement of the internationalization level.The increase in the degree of industry agglomeration has a significant effect on the foreign direct investment of Chinese enterprises.The increase in the number of Internet users will also significantly promote the growth of foreign direct investment.Emerging areas are also promoting the growth of small micro-enterprises.China's domestic market is also conducive to China's multinational companies "going out".