The Determinant Factors Of Chinese ODI

Since the Chinese government put forward the strategy of "going out" in 2000, Chinese outward direct investment began to stable increase every year. Especially, after 2008, the international financial crisis provided an opportune for Chinese enterprises to go out, Chinese outward direct investment rapidly growth. Whether state-owned enterprises or private enterprises are looking for their own goals in the world. Finally, Chinese outward direct investment exceeded its foreign direct investment and China became the third largest investor overtaking France and the UK in the world in 2014.However, there are a few Chinese scholars to study the following problem: why did Chinese enterprises do the outward direct investment? What factors can attract Chinese companies to invest in host countries? What factors make Chinese enterprises to go out looking for resource in China? In the field of home country effect of ODI in China, Chinese scholars pay high attention to the reverse technique inverse effect, but low attention to the resource acquisition effect. In recent years, although there are a lot of Chinese scholars made an empirical analysis for the reverse technique inverse effect, but there are no more detailed explain for the problem that the effect of reverse technique inverse is not obvious. In addition, the rise of Chinese ODI as the representative of emerging economies poses a challenge for the traditional FDI theory rising in the 1960’s.Aiming at these problems, firstly, this article discuss the problems that meet in studying the ODI theory of developing countries and the ODI theory of Chinese ODI in future and the development trend of ODI theory through stating the dominant theory of FDI and the emerging economies theory of FDI. Afterwards, the article studies the Chinese ODI determinants of host country and home country through the combination of theoretical analysis and empirical test. In terms of home country effect of Chinese ODI, the article makes the case analysis for the resource acquisition effect and then, discusses the phenomenon that the effect of reverse technique inverse is not obvious. Finally, on the basis of summarizing the main research conclusions, this article put forwards suggestions for the future direction of Chinese ODI policy.