An Empirical Study On The Impact Of Manufacturing Foreign Direct Investment On China 'S Industrial Structure Adjustment

Since the reform and opening up in 1978,foreign direct investment has played an increasingly important role in China's economic development.From the perspective of foreign direct investment industry,19 industries such as financial industry,manufacturing industry,wholesale and retail trade have been covered,according to the 2015 foreign direct investment bulletin,it shows that the investment flows to these industries has reached 111 billion US dollars,two-thirds of the total.M&A investment has dominated the way in foreign direct investment is made in China.M&A has also included transportation,mining,manufacturing and other 18 industries,of which the amount that invested in the manufacturing sector has reached 14 billion US dollars,referred to 137 projects,compared with the previous increase of 13.4%.From the above data,manufacturing industry's foreign direct investment plays an increasingly important role,it has become one of the important areas of industry in China's foreign direct investment.In particular,the country pushed the "China made 2025 strategy",the manufacturing industrys national economic status is more prominent.The implementation of this strategy is to promote China's manufacturing industry from extensive to intensive change,and constantly enhance their own soft power competition;not only that,China strongly launched the "one way" strategy for China's manufacturing industry to go abroad.for the parties to achieve interoperability to create the market conditions,resource conditions,technical conditions and labor conditions,with the "one by one" strategy in the major international construction projects,you can revitalize the existing stock of China's economic development,To carry out capacity cooperation,promote the transformation and upgrading of China's industrial structure,so that China's manufacturing industry toward the higher level,more complex division of labor,structure more rational stage of continuous advance.In the case of China's manufacturing foreign direct investment situation is good at the same time,we also have to face up to its severe internal and external situation.From the international level,the developed countries set off a new round of manufacturing and then return to the tide,trying to adjust the global manufacturing industry by a new pattern,reshape the status of advanced manufacturing in the country,to promote industrial return.This initiative of the developed countries is contrary to the "marginal industry expansion" advocated by the island Qing Dynasty,which blocked the path of China's high-end manufacturing industry in developed countries,which is not conducive to the reorganization of China's industrial structure.From the domestic point of view,on the one hand,China's manufacturing capacity overcapacity,the urgent need for industrial restructuring and industrial transfer,thereby reducing the labor factor into the intensive,resource elements into the intensive industries,enhance the technical factors into the intensive and capital elements of intensive manufacturing On the other hand,the report of the China Enterprise-Labor Force Matching Survey(CEES)report shows that the overall profitability of China's manufacturing industry(CEES)The average profit margin is only 3.3%,and showing a serious profit differentiation:19.8%of the enterprise profit margins are negative,nearly a quarter of the respondents in the enterprise profit margins tend to 0,a loss,A quarter of corporate profit margins more than 7%,with China's overall economic growth rate,the remaining respondents profit margins of less than 2.5%.As the main body of China's national economy,its contribution to the economy is so low,people are very worried,for which China's industrial restructuring,so that enterprises to re-burst out of economic vitality is imperative.To this end,we must correctly examine China's manufacturing industry OFDI process of internal and external problems,it is necessary to correctly grasp the current manufacturing industry in China's foreign direct investment facing the grim situation,but also firmly grasp the "all the way strategy" and "post-industrial wave"To China's manufacturing industry OFDI brought good opportunities for development,the full implementation of the" manufacturing 2025 strategy ",a number of force,to promote China's industrial structure towards a more reasonable form of change.Based on the influence of China's manufacturing industry's external direct investment on industrial industrial structure adjustment,this paper first analyzes the background of this paper,analyzes the necessity,and then discusses the concepts involved in this paper,such as foreign direct investment,industry The structure is defined.On the basis of the definition of the concept,the domestic and foreign scholars on the subject of the relevant literature were summarized,get some inspiration,also obtained this article on the subject of research ideas.And then the combination of theoretical research and empirical research,first qualitative analysis of the manufacturing sector of foreign direct investment on the impact of industrial restructuring mechanism,and then from two parts of its quantitative analysis.The first part uses the gray relational model to explore the relationship between the manufacturing FDI and the adjustment of China's industrial structure.The second part uses the vector autoregressive(VAR)model to further clarify the impact of manufacturing OFDI on China's industrial structure adjustment.The empirical results of the two shows that the manufacturing FDI is the Granger cause of China's industrial structure adjustment,and can play a positive role in promoting the adjustment of China's industrial structure.Finally,this paper combines the results of qualitative analysis and quantitative analysis with the current opportunities and challenges faced by China's manufacturing industry,and puts forward further suggestions for the foreign direct investment in China's manufacturing industry,so as to make our manufacturing industry OFDI better in China Industrial restructuring process,to achieve the new economy under the normal transformation goals.The innovation of this paper lies in the emergence of the wave of re-industrialization in the developed countries,the "one-way strategy" and the"China-made 2025" continue to implement the creation of China's OFDI created a new opportunity and challenges such an era background,Foreign direct investment has a stronger sense of the times.