The Research Of China-ASEAN Investment Facilitation

In September 2013,China's President Xi Jinping put forward the “Silk Road Economic Belt” during his visit to Central Asia.In October of the same year,he proposed an initiative to build the “21st Century Maritime Silk Road”,“Silk Road Economic Belt” and the 21 st Century Maritime Silk Road is also known as the "The Belt and Road." "The Belt and Road" initiative is aimed at strengthening economic cooperation with countries along the route and helping Chinese enterprises to better invest,at the same time can be able to benefit China's advanced science and technology and production technology to countries along the "The Belt and Road" to achieve Mutual benefit and common development.Among the countries along the “The Belt and Road,” the ASEAN region is a key area in the “The Belt and Road” program,and it is also one of the regions that are geographically close to China,and is also a national development center that encourages cross-border innovation and regional cooperation.The ASEAN region is not only with abundant natural resources and human resources,and at the same time some developing countries with unprecedented economic development potential also urgently need to open their country,the development of China's economic cooperation with ASEAN is very conducive to the promotion of bilateral sustainable development,and will help build “China-ASEAN fate community."In particular,in recent years,the economy of ASEAN countries has grown rapidly,and the space and potential for economic cooperation are huge.With the implementation of the "Belt and Road Initiative," China's direct investment in ASEAN will also increase.However,judging from the status quo,the level of economic development in ASEAN countries is not even.Both developed countries,which account for a minority,also have a majority of developing countries.These developing countries have generally experienced political instability,imperfect legal systems,and imperfect infrastructure.Some countries even have geopolitical conflicts.When Chinese companies increase investment in these areas,the factors that affect corporate investment are an important basis for their decision-making.In order to better promote China's direct investment in ASEAN,this article will cut in from the perspective of investment facilitation,study the level of investment facilitation in ASEAN countries,and further study the main factors and possible obstacles that affect China's direct investment in ASEAN countries.In the future,it will provide reference and reference for promoting investment cooperation between China and ASEAN under the “The Belt and Road”.After investigation and analysis,this paper measures the level of investment facilitation for ASEAN countries and uses Zhang Yabin(2016)measurement system to measure over 50 countries along the Belt and Road,and estimates eight ASEAN countries(Brunei and Myanmar lack data.The level of investment facilitation found that Singapore and Malaysia are countries with higher levels of investment facilitation,while China,Thailand,and Indonesia have higher levels of investment facilitation,and the level index has increased year by year,while Vietnam,the Philippines,The level of investment facilitation in Laos and Cambodia is at a moderately low level.After further empirical analysis,this paper draws the following conclusions: China's GDP,investment facilitation in China and host countries,host country infrastructure,business environment,and institutional supply quality have a positive effect on China's direct investment in ASEAN.It also shows that improving the level of investment facilitation in China and the host country can help promote China's direct investment in ASEAN,and can focus on strengthening and optimizing infrastructure,business environment,and the quality of institutional supply.