Investment Creation Effect Under CAFTA Framework

After entering the 21 st century,China' FDI has increased rapidly and China's enterprises has paid much more attention to “Go globally” strategy.Located near ASEAN countries,China shares similar culture and trade frequently with them,and China and ASEAN have deepened their economic integration.However,these countries' economic level is different,so they take advantages from each other in resources and industries and so on.Now,ASEAN countries have become China's important investment targets.This paper reviews the classical theory of foreign investment,analyzes the impact of regional economic integration in the region on the path of investment and,finally,to adapt to the latest theoretical schools of Chinese investment in ASEAN countries;A brief introduction to the history of the ASEAN and China-ASEAN "Investment Agreement" content and from investment flows,investment stock,industry distribution,national distribution,investment characteristics and investment barriers several dimensions of analysis of the latest status of Chinese investment in ASEAN,part of the reason given analysis;status quo and theoretical paper is still China's investment in ASEAN Based on the combination of the two investment in China's foreign investment flows gravity model using the data to 2005 and 2003 to expand the appropriate empirical analysis,empirical results show that China's foreign direct investment by the factor-driven pattern-seeking resources to market expansion type,China-ASEAN regional economic integration for China to ASEAN investment has a positive role in promoting,but the "investment agreement" under the CAFTA framework policy effect has not been fully play;Finally,to strengthen China-ASEAN community of destiny and to promote international cooperation in capacity building background from under the sea Silk Road,to improve China-Union investment environment,the active region to invest three main aspects give advice,etc.