The Research Of Influencing Factors Of Chinese OFDI To ASEAN

With the continuous development of China’s economy and promotion of economy strength, the pace of Chinese enterprises to go outside is gradually faster. Since financial crisis in2008, the recovery of developed countries’economy is slowly, meantime, emerging market countries’economy develops rapidly. The absorption of FDI is increasing. According to "World Investment Report2013", the absorption of FDI of developing countries ascends developed countries firstly in2012. the percentage is52%. China and ASEAN (Association of Southeast Asian Nations) are main countries or regions of absorption of FDI. Low-income countries labor-intensive direct investment volume is increasing, such as Cambodia, Myanmar and Vietnam. Eighth session of the Third Plenary adopted the’CPC Central Committee on deeping reform of the overall number of major issues’, it will continue to promote the adjustment and upgrading domestic economic structure. Chinese industry structure is shifting from labor-intensive to tech-intensive or capital-intensive. It’s important for Chinese marginal industry transference and upgrading of industry structure to invest in ASEAN directly. The year of2013is10th anniversary of the establishment of strategic partnership. The economic and trade relationship between China and are increasingly closely. Under the background of research of influence factors of Chinese investment in ASEAN has important theoretical and practice significance.The purpose of the paper is to analysis current conditions and problems, then evaluate the investment environment scientifically. Finally we analysis the influence factors of China’s investment in ASEAN countries through empirical test. In terms of the results of evaluation and empirical test, we come up with some policies and suggestions.The basic writing framework of the paper includes six parts. Part one is introduction which includes theme’s background, research significance, basic idea, research framework, innovation points, deficiencies and writing difficulties. Part two is relative theories and literature review. It includes a brief summary of international direct investment theories of developed and developing countries, and the summary and comment of literatures of influence factors of China’s investment in ASEAN countries. Part three is history and current conditions of China’s investment in ASEAN countries. Part four is scientific and standardized evaluation of ASEAN countries’investment environment by the method of TOPSIS. Part five is empirical test of the12influence factors of China’s investment in ASEAN countries. Part six includes conclusion and relative policies and suggestions.It finds that the significantly important influence factors of Chinese OFDI to ASEAN include Chinese export to the host country, host country’s market scale, natural resource endowments, consumption capacity, infrastructure, and labor cost. Other factors such as exchange rate, trade barriers and political stability also have certain effect on Chinese OFDI to ASEAN members. The factors of technical level and labor’s quality are not major factors. The empirical results prove that Chinese OFDI flows to ASEAN are mainly market-seeking type and resource-seeking type, meanwhile, have the motivations of reducing production cost and eluding trade barriers. Government should encourage Chinese enterprises to go outside, increase investment in ASEAN countries, make use of natural resource of ASEAN countries, increase resource-seeking investment, and promote the transference of marginal industries. At same time, government should lead some enterprises which face fierce competition in domestic market to invest in ASEAN countries. Through investing in ASEAN countries, Chinese enterprises can avoid trade barriers. Government should support the behaviors of investing in ASEAN countries, and strength the role of investment guidance. Government should promote the friendly relationship between China and ASEAN countries, maintain legible benefits of Chinese enterprises in ASEAN countries, and create favorable international environment for Chinese enterprises’direct investment in ASEAN countries.