| Since the 1990s bilateral economic and trade between China and ASEAN is increasingly close. At the same time both sides strengthen the cooperation in the field of investment and trade. China has already become the important target of south-east Asian nations’ foreign direct investment, at the same time, China has gradually become an important source of some ASEAN countries" FDI. By the end of 2013, bilateral investment reached $15.62 billion, China’s investment in ASEAN is $7.27 billion and ASEAN investment in China is $8.35 billion. FDI from ASEAN into China accounted for 6.74% of China’ total FDI flows. The ratio is higher than the European Union, the United States and Japan, second only to Hong Kong. In 2002, China and ASEAN signed "China-ASEAN framework agreement on comprehensive cooperation’". The two sides, respectively, signed free trade agreement on trade in goods and service in November 2004 and January 2007.After that, through several rounds of negotiations, China and the 10 ASEAN countries signed the "China-ASEAN framework agreement on investment" at the eighth China-ASEAN economic and trade minister meeting. China and ASEAN formally established the China-ASEAN free trade area On January 1,2010. Brunei, Philippines, Malaysia, Thailand, Singapore and Indonesia these six ASEAN countries in the implementation of the free trade agreement with China, reduce tariff for a number of 54457 kinds of goods. The average tariff of ordinary goods is reduced to 0.05% from 0.79%. In terms of all tariffs on goods, ASEAN’s average tariff on Chinese goods has fallen from 12.8% to 0.6%, and the average tariff of China to ASEAN goods from 9.8% to 9.8%.China’s trade tariffs for 93% products of the association of south-east Asian nations became zero. At the same time, the two sides achieve a more extensive open trade in services and investment market.Over the last 10 years, the volume of trade between China and the association of South-East Asian nations increased by five times, reached $443.6 billion. The amount of FDI has increased by three times, up to $120 billion. China-ASEAN free trade area is the first free trade area of China’s foreign negotiation, is also the largest free trade area between developing countries. Therefore, to have a comprehensive understanding of the influence factors of China-ASEAN free trade zone to attract FDI, the analysis of China-ASEAN regional economic integration in the region state influence mechanism of FDI, is of great significance. Based on the FDI effect of China-ASEAN regional economic integration as the research object, through comprehensive induction and logic deductive method, on the basis of existing literature research, from the aspect of theory analyzes the factors influencing the regional countries of FDI inflows, regional economic integration, the influence mechanism of FDI.Through quantitative empirical analysis, we found that a variety of mechanisms that affect the economic growth of host countries. This paper mainly research on China-ASEAN regional economic integration effects of FDI through the following several aspects. First of all, to briefly review the development of CAFTA, and the CAFTA as the present situation of free trade zone to attract FDI and analyze the present situation and problems of China and the association of South-East Asian nations mutual investment. Then from two aspects of investment to do analysis of the FDI effect of CAFTA from investment creation and investment diversion. Second, the direct effect of investment terms, trade liberalization effect, expand market and economic growth effect four aspects, and combining with CAFTA the mechanism of action of the status of FDI effect on regional economic integration. What’s more, using the panel data and fixed effect model of CAFTA regional economic integration affect the mechanism of action of FDI and the empirical test on the effect of FDI. Finally summarizes the CAFTA’s influence on FDI optimize the effect of CAFTA investment in China and China’s participation in regional economic integration strategy to provide referential suggestions.By comparing the regional economic integration literature research I found that the research of regional economic integration’s effect on FDI mainly do comparison with preliminary data and prove that the regional economic integration from the angle of the overall level. Also, to prove the promoting effect of FDI inflows in the total area but a lack of research on different countries. At the same time existing literature mainly analyze the influence factors of FDI from the aspects of motive of multinational company investment regional economic integration, and the analysis of the mechanism of regional economic integration effect on FDI are few and far between. In this paper, based on the study of the first pass, the current situation of investment of CAFTA from two aspects of investment to create and transfer to analyze FDI effect of CAFTA regional economic integration. At the same time, do analysis of the regional economic integration on the influence mechanism of FDI, and through the empirical analysis to verify CAFTA regional economic integration mechanism of FDI effect and influence. Through the study I found that the establishment of CAFTA regional economic integration has a positive influence on regional countries of FDI inflows and is conducive to regional countries of FDI inflows. |
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