A Comparative Study Of The Efficiency Of Direct Investment Between China And Japan In Asean

China,Japan and ASEAN are both important economies in the Asia-Pacific region,and the investment of China and Japan in ASEAN has played an important role in promoting the economic development of the two countries themselves and the ASEAN region,and the two countries have certain stage similarities in investment drivers,status quo and trends.In this context,the comparison of the direct investment efficiency between China and Japan in the ASEAN region has become the key to seeking China’s direct investment efficiency improvement in the region.This paper separately analyzes the motivation,status quo and trend of direct investment between China and Japan in ASEAN,and combines the status quo of investment in the region with the research results of relevant scholars,the key factors affecting the direct investment of the two countries in the region are put forward from the political,economic and other aspects,and gave a more detailed theoretical explanation.Subsequently,this paper uses the gravity model to verify the theoretical influencing factors and finds that the host government’s government effectiveness,economic development level,tax burden and infrastructure status have an impact on the direct investment between China and Japan in ASEAN.On this basis,this paper compares the actual value of direct investment between the two countries in the region with the simulated prediction values obtained from the model regression,and calculates the efficiency level of direct investment between China and Japan in ASEAN.Among them,China’s investment efficiency in the region is only 25.48%,which is far lower than the investment efficiency of Japan.This paper further compares the efficiency of investment between the two countries in the region from the national and general aspects.The difference between the overall size of the two countries,country choices,industry choices and investment entities is the main reason for the significant differences between the two countries’investments.Therefore,at the end of this paper,from the perspective of improving the overall scale of investment,adjusting the choice of investment countries,optimizing the investment structure and improving the investment subject,this paper puts forward relevant suggestions on the improvement of China’s investment efficiency in the ASEAN region.