Research On Reverse Technology Spillover And Potential Of Outward Foreign Direct Investment Of China

Since 1982, China’s outward foreign direct investment(OFDI) has experienced 30 years of development, especially the "going out" strategy made after China’s foreign direct investment into the rapid development stage. 2014 President Xi Jinping put forward "One Belt and One road" of strategic thinking, OFDI in our country is a great opportunity for multinationals. The role of OFDI in our country and how to effectively use research of China’s OFDI capital, and fully tap the potential of OFDI, for the promotion of China’s economic transformation, accelerate the construction of an innovative country has important practical significance.In this paper, the current status and development process of China’s OFDI, the use of panel data of China’s 31 provinces, reverse positive spillover effects of OFDI, and on this basis, China is divided into three regions in eastern, central and western Empirical respectively FDI technology spillover effect in the region, The results of the national data show that China’s OFDI has a significant effect on both technical progress represented by TFP(Total Factor Productivity)and the independent innovation ability represented by patent applications. The regression results of regional data show that the reverse technology spillover effects of OFDI are significantly different among the east, central and west region of China. At the same time, the investment of R&D capital has stronger influence on China’s independent innovation ability than the international technology spillover that represented by OFDI.To encourage Multi-National Corporation increase foreign direct investment and promote the growth of China’s OFDI is the main policy direction of China’s OFDI, but the potential of China’s OFDI how much efficiency has played a much less problematic research, the paper by borrowing stochastic frontier model the introduction of the economic characteristics of the host country and the institutional environment and other factors, measured the efficiency of China’s OFDI, The results show that the host country’s energy production, level of openness and total trade with China have the significantly positive impact on China’s OFDI, but the impact of the host country’s GDP is negative. While improving the host country’s political and legal systems of governance can significantly improve the efficiency of China’s outward direct investment in the country. Although the efficiency of China’s OFDI increased year by year, the overall efficiency value is low and the OFDI potential still has large room for improvement.