The Impact Of China's Ofdi On Industrial Structure Upgrading

With the development of Economic globalization and the deep implementation of "Go out" strategy,China's OFDI has entered into a stage of vigorous development,where the investment scale is expanding and the scope is all over the world.At the same time,the problem of the low level and acute structural imbalance of domestic industry is increasingly obvious,which directly impedes the development of China's economic growth.So that the upgrading of industrial structure has become a key factor to the sustainable and healthy development of China's economic.In this context,the attention of Chinese academia has shifted from FDI to OFDI and focused on the effect of OFDI on the domestic industrial structure.This article is based on theoretical analysis and empirical analysis,and studies whether the reverse technology spillovers of OFDI can promote the rationalizing and upgrading of domestic industrial structure as well as the regional and industrial differences from the perspective of technological progress.With a review of relevant literature and combines with the development situation of China's OFDI and industry,this paper summarizes the mechanism of OFDI's promoting effect on domestic industrial structure upgrading from the micro and macro aspects,which enrich and improve the research system.And then by using Chinese provincial panel data during 2003-2015 and improving international R&D spillovers model,we investigate the effect of OFDI's reverse technology spillovers on China's industrial structure upgrading and its regional and industrial differences comprehensively and systematically.The empirical result shows that OFDI has indeed promoted the optimization and upgrading of domestic industrial structure through technical progress,and has significant regional and industrial differences.The regional differences are manifested in the successively reducing effect of eastern,middle,northern and western.And the industrial differences are manifested in the successively reducing effect of third industry,second industry and first industry.Based on the results of theoretical analysis and empirical analysis,this paper provides some suggestion about how to make full use of OFDI's reverse technology spillovers in order to promote China's industrial structure optimization,such as increasing government support,encouraging technology seeking investment,planning investment strategy reasonably,strengthening technology absorption capacity and so on.