China’s Investment Strategy For Countries Along "The Belt And Road" Based On Investment Environment Evaluation

At present,China’s opening-up strategy is in a major period of adjustment,local enterprises not only need to "bring in" more urgent look forward to "going out." However,in the face of a complicated investment environment,many companies in China have been thinking about the environment of foreign investment,where to go,how to go,whether the security and profitability of foreign investment can be guaranteed.These have become urgent problems to be solved.On the other hand,the global economic downturn,trade protectionism has re-emerged,and the tide of globalization has swept the world.With the changes in the new round of global trade rules,the control of investment risks and the improvement of economic and trade relations in various countries are gradually receiving widespread attention from the government,society and academia.Under the background of the "the Belt and Road" initiative,the country with " the Belt and Road " as the core has gradually become a new direction for China’s foreign investment.However,the investment environment of countries along the "the Belt and Road" is uneven,and some countries are in political turmoil all the year round,economic development is backward,infrastructure is imperfect.All these factors will pose risks to foreign direct investment of Chinese enterprises.Therefore,it is particularly important to study the investment location based on the investment environment.Based on the above situation,this paper constructs a set of investment environment evaluation system,and carries out investment environment evaluation from five dimensions: government policy,economic development,labor market,infrastructure construction and scientific research innovation.A total of 44 three-level indicators were selected in the evaluation system.This paper measures the environmental quality index of 41 countries along the "the Belt and Road" including China based on the entropy weight method.Then use the proportion of the net inflow of FDI in a country to the sum of the net inflows of FDI in 41 countries as an objective criterion to verify the objectivity of the investment environment.Finally,the article comprehensively calculates the scores of 41 countries in five dimensions,as well as comprehensive evaluation and ranking.At the same time,the article uses the total import and export volume of countries and China to calculate the economic and trade relationship between China and the "the Belt and Road" countries.On this basis,the countries along the "the Belt and Road " are divided into four types in the two dimensions of investment environment and foreign investment intention: Developmental countries with good investment environment and strong investment intention,Potential countries with good investment environment but weak investment intention,Improved countries with a poor investment environment but strong investment intention,Cultivated countries with poor investment environment and weak investment intention.Specifically,the following analysis results were obtained.Chinese enterprises should deepen communication and cooperation with "developmental countries";actively carry out economic and trade exchanges with "potential countries";and carefully examine the investment environment of "improved countries" and "cultivated countries".For government agencies,it is necessary to consolidate relations with "developmental countries";to support cooperation between Chinese enterprises and enterprises in "potential countries";to help improve the investment environment of "improved countries";to guide "cultivated countries" to participate in the international cooperation of the "the Belt and Road" initiative,to jointly participate in and enhance the "the Belt and Road" investment environment,and to promote the construction of the "the Belt and Road" initiative.