Research On Influencing Factors Of OFDI Location Selection In China's Manufacturing Industry Under "The Belt And Road"

Since the reform and opening up,China has continuously improved the pattern of opening to the outside world,and has repeatedly won the top spot of foreign direct investment in the ranks of developing countries.The OFDI traffic and stock base in different countries and different continents soared,becoming the fastest growing OFDI economies.As an important part of China's OFDI strategic layout,manufacturing industry also needs to further improve its international competitiveness.Since China launched the “The Belt and Road” initiative in 2013,many manufacturing enterprises in China have begun to deploy international markets,actively responding to the “going out” national policy,and making direct foreign investment,and the choice of OFDI locations is increasingly diversified.The direct investment of foreign investment in China's manufacturing industry is quite unique in the regional selection and industrial layout of countries and regions along the Belt and Road,but there have been many problems.Therefore,under the “The Belt and Road”background,it is particularly important to thoroughly study the location factors that affect China's manufacturing OFDI and create a good investment environment.This article is divided into five parts.According to the relevant data in the multi-year foreign investment communique,combined with the development situation of OFDI in the manufacturing industry in China,an in-depth study of the distribution of Chinese manufacturing in the “The Belt and Road” is conducted,and the issues that hinder the choice of investment locations are detailed.Explain and propose corresponding countermeasures and suggestions.This paper analyzes in detail the development status of China's manufacturing industry and the development of OFDI at home and abroad.Based on OFDI theory and OFDI location selection theory,it uses literature research,empirical analysis and comparative analysis to analyze the theory of China's manufacturing OFDI location.The influencing factors of the selection,and then the current situation of China's manufacturing industry in the area along the “The Belt and Road” and points out the existing problems in the existing structure.Based on the manufacturing investment data of China in the ten major economies of ASEAN(10 countries),the United States,Australia,and the RussianFederation from 2010 to 2016,The empirical measurement method of the universal panel data model was used to conduct in-depth research on multiple factors that affect the OFDI location selection in China's manufacturing industry.The study found that the “Belt and Road Initiative” proposed a positive incentive for the selection of OFDI locations in China's manufacturing industry.When an investor performs OFDI,there are many consideration factors for choosing a place as a host country,such as labor costs,GDP,infrastructure,technology,bilateral trade relations,etc.,but it does not include changes in exchange rates.In pursuit of market efficiency,it is necessary to pay attention to reducing labor costs and expanding the market scale;access to resource-based products must focus on infrastructure construction and maintenance of trade relations;searching for technology-based,highly sophisticated technology is the most important factor for OFDI.Based on the theoretical review and combined with empirical analysis results,based on the perspectives of the state and the enterprise,how to scientifically and rationally allocate "One Belt and One Road" and improve the efficiency of OFDI location selection in the manufacturing industry,and provide highly realistic countermeasures and suggestions.