| Since the reform and opening policy in 1978,China has absorbed moreand more foreign direct investment along with the development of openingeconomic and improvement of economic environment。The amount of China'susing foreign direct investment has come to the first top of the world in 2004,which shows that foreign investment economy takes up an important role inChina's economy,not only driving the persistent growth of China's economy,but also changing the mode of economic growth and improving the quality ofit。But the distribution of foreign direct investment in China is extremelyimbalance,which is mostly centralized in east coastal region,but little inmiddle and west areas。And the Yangtze River delta and the Pearl River deltaare the most actively areas of using foreign direct investment,the amount ofusing foreign direct investment in these two areas occupies more than 50% ofthe total mount in China。In recent years,along with the further developmentof reform and opening,the status of using foreign direct investment in theYangtze River delta and the Pearl River delta has presented a new trend。TheYangtze River delta and the Pearl River delta are the typical regions of usingforeign direct investment in China,so the main content of this paper is toanalyze the scale of using foreign direct investment in the Pearl River deltaand the Yangtze River delta,the distribution of foreign direct investment in theindustrial structure of these two areas and the influence that the foreign directinvestment produced on the economy of these two areas。There are 4 parts asfollowing:1.TheoryThis part mainly explains the theory of foreign direct investment,the firstis motivation of foreign direct investment theory , which shows whymultinational would like to invest in foreign countries;the second isdistribution of foreign direct investment theory,which shows where would themultinational like to invest;and the last is influence of foreign directinvestment theory,which shows what influence does the foreign directinvestment would produce on the countries of receiving foreign directinvestment,such as economic growth,capital creation,technology spill-over,industrial structure improvement,international trade and employment。2. Comparative analysis of scale of using FDI in the Yangtze River deltaand the Pearl River deltaThis part mainly explains the change of scale of foreign direct investmentin the Yangtze River delta and the Pearl River delta and the reason of itschange。Before 20c90's,the Pearl River delta is the main region of absorbingforeign direct investment,but after 20c90's,especially in the middle age of20c90's,the distribution of foreign direct investment has changed a lot,theYangtze River delta has become the new favorite,and its share of usingforeign direct investment has exceeded the Pearl River delta,from 10.52% to49.78%;but in the meanwhile,the share of using foreign direct investment inthe Pearl River delta has decreased from 41.87% to 14.62%。The reasons are:(1)the origin of foreign direct investment has changed,the European andAmerican countries has increased their investment to China,especially in theYangtze River delta;(2)the wider radiation to the inner market in the YangtzeRiver delta;(3)the favorable investment policy in the Yangtze River deltaweakened the absolute advantage in the Pearl River delta;(4)the higher levelof research and development ability in the Yangtze River delta。3. Comparative Analysis of distribution in the industrial structure of usingFDI in the Yangtze River delta and the Pearl River deltaThe flow of using foreign direct investment in the industrial structure inthe Yangtze River delta and the Pearl River delta is quite similar。Theproportion of foreign direct investment in the first industry is very low;theproportion in the second industry is largest,especially to the manufactureindustry;and the proportion in the third industry has the trend of increasing。From the second industrial structure,we can find that the foreign directinvestment in the Yangtze River delta mainly flowed to the capital-intensiveindustry and the technology-intensive industry , but the foreign directinvestment in the Pearl River delta mainly flowed to the labor-intensiveindustry,which shows that the impact of foreign direct investment on theupgrade of industrial structure in the Yangtze River delta is stronger than thatin the Pearl River delta。4. Comparative Analysis of influence produced by FDI on the economyof the Yangtze River delta and the Pearl River deltaForeign direct investment has a much deeper influence on the economy ofthe Yangtze River delta and the Pearl River delta。As to economic growth,capital creation and international trade increase,whose influence on the PearlRiver delta is stronger,but as to technology improvement,industrial structureupdate and employment creation,whose influence on the Yangtze River deltais stronger。From this we can find that the economic development of the PearlRiver delta is more dependent on foreign direct investment,but the foreigndirect investment in the Yangtze River delta promotes its economy mostly。... |
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