Research On The Influence Of Ecological Environment On The Investment Location Selection Of Countries Along The "One Belt And One Road" Initiative

Under the guidance of the “One Belt And One Road” initiative,China's outward foreign direct investment(OFDI)has maintained a rapid growth.China has carried out in-depth economic cooperation and interaction with countries and regions along the “One Belt And One Road” route.President Xi called for “Lucid waters and lush mountains are invaluable assets” concept.China is working with other countries to build a community of Shared interests,Shared future and Shared responsibilities.Countries and regions along the "One Belt And One Road" route have different ecological environment conditions.A few countries have insufficient resource endowment,serious environmental pollution and immature environmental protection mechanism,which will seriously affect China's investment activities.Chinese scholars began to study the relationship between the ecological environment and investment location choice relatively late,systematic theoretical research is few.Therefore,under the background of "One Belt And One Road" initiative construction,it is necessary to explore the influence of ecological environment on the location selection of China's OFDI.40 sample countries were chosen,and the ecological environment indicators were selected.The principal component analysis was used to create the matrix of ecological environment risk and opportunity.Based on this matrix,the comprehensive index of the ecological environment was measured and analyzed.It was found that the countries along the route had different ecological environment characteristics.From the two aspects of ecological environment opportunity and risk,these countries can be divided into four types.China should invest differently and choose appropriate investment plans.Then the comprehensive score of ecological environment of each country is put into the investment gravity model as an explanatory variable,and the time dummy variable,distance,China's GDP,host country's GDP,air transport freight volume,legal strictness and economic freedom index are also included.The significance of the impact of ecological environment factors on the choice of investment location is empirically analyzed Level.China's OFDI in the countries along the "One Belt And One Road" initiative should not only consider economic factors,political factors,but also identify the ecological environment factors.The more abundant mineral resources and water resources are,the more attractive China will invest in the construction.The more serious the air pollution level is,the more vulnerable the biodiversity is,and this will inhibit China's investment behavior.At the same time,the closer the geographical distance among the control variables is,the higher the GDP is,and the more perfect the transportation infrastructure is,the more China can attract direct investment in the region.The more strictly the host country's legal management is,the more government's economic intervention is,the more it will hinder the process of China's direct investment in the region.Finally,according to the empirical results,this paper gives some suggestions for the location selection of OFDI from the government and enterprises.The government should give full play to the regional advantages,achieve classified management,strengthen legal norms,set up green finance,and formulate targeted development strategies.The enterprises should carry out comprehensive ecological environment assessment,fully understand the ecological environment of the host country,and timely take emergency measures and standardize project management to ensure the steady progress of the project.