The Impact Of Technology Sourcing Outward Direct Investment On China's Independent Innovation

With the Chinese government proactively promoted “ the Belt and Road Initiative” and steadily carried out international cooperation of production capacity,constantly improving the working system for “going global”,China's outward foreign direct investment achieved a historic breakthrough in the year 2015,the flows of outward foreign direct investment exceeded the level of inward foreign direct investment over the same period for the first time,and China experienced net capital outflows from the two-way foreign direct investment.In the top ten counties,China is just the only one developing country,and others are all developed counties.Currently,there is a big technology gap between developed counties' enterprises and Chinese enterprises,Chinese enterprises' technology level is far away from developed enterprises',the core technologies are in the developed counties.If Chinese enterprises want to keep and make profit,enhance their own competitiveness,they should promote technical content and added value by innovation.China has a large proportion of the direct investment flows to developed countries or regions,Seeking advanced technology has become an important motivation for China's ODI.To solve the problem of technology sourcing ODI,many researchers has carried out a lot of research,and they have provided certain theoretical support for us.Firstly,this paper summarized the previous work of experts and scholars.Then from the perspective of absorptive capacity analyzed that the technology sourcing ODI reverse technology spillovers,and this paper analyzed the present situation and characteristics of technology sourcing ODI in China.Finally,this paper made empirical analysis how technology sourcing ODI and the absorptive capacity affects independent innovation,and put forwarded some suggestions for the government.Research results of this paper are mainly as follows:First of all,the 5 main characterization absorption capacity index is introduced into the modified model,and the three types of patents and patent authorization amount respectively as explanatory variables,the empirical analysis of the static panel after each comparison,regression results show that: ODI technology sourcing for the promotion of independent the innovation ability of our country to the characterization of the invention patent,and the utility model patents,designs and total capability of independent innovation of China's representation had no effect;China's ability to absorb technology is an important factor regulating technology sourcing ODI effect on China's independent innovation ability,especially the influence of human capital,research and development investment and the level of economic development is more significant.Secondly,in order to solve the endogeneity problem and model robustness test of the model,after regression analysis of the static panel data of GMM dynamic panel estimation,GMM estimation results also show that technology sourcing ODI played a significant role in promoting to a higher technological content of the invention patent for independent innovation capability,at the same time also show positive effects of technology sourcing ODI on China's independent innovation ability with delay.In addition,the conclusions of the two panel models of the interaction of variables show that the human capital of China has not reached the threshold value,which has restrained the improvement of independent innovation ability.Finally,the paper summarized the conclusions of this paper in the final chapter.In order to give some reference to the development of Chinese enterprises transnational investment,some suggestions for the government are given from two aspects of our government and multinational enterprises.