Research On The Influencing Factors Of China's Direct Investment In Countries Along The "Silk Road Economic Belt" From A Spatial Perspective

Since the “One Belt,One Road” initiative proposed by General Secretary Xi Jinping in 2013,after five years of construction,China has made many achievements in trade,investment,and overseas park construction.In particular,China's foreign investment has made tremendous progress and development.In 2017,China's foreign investment stock was1,809.04 billion US dollars,ranking second in the world.In the same year,China's foreign investment flow reached 158.29 billion US dollars,ranking third in the world.The rapid development of China's foreign direct investment has promoted the development of world foreign investment.Among them,China's investment in countries along the “ Silk Road Economic Belt” is also a key link to promote good cooperative relations between China and neighboring countries and promote China's opening up to the outside world.Although China's direct investment in countries along the “ Belt and Road ” has achieved certain results,China's foreign investment still faces different challenges.The economic development of the countries along the “Silk Road Economic Belt” varies,the industrial base is uneven,the social and cultural environment is very different,and the heterogeneity characteristics are obvious.Some countries along the “Silk Road Economic Belt” are also members of the Eurasian Regional Economic Integration Organization,and their direct investment in domestic economic activities may be affected by “third country”factors.In view of the heterogeneous characteristics and spatial correlation of the countries along the “Silk Road Economic Belt”,this paper builds a spatial measurement model and empirical test through the data of China's direct investment in 43 countries along the “Silk Road Economic Belt” from 2003 to 2017.China's direct investment in countries along the“Silk Road Economic Belt”,China's direct investment in countries along the “Silk Road Economic Belt” is also affected by “third countries”.This paper first sorts out the relevant theoretical literatures on international direct investment theory and spatial effects,and provides research theoretical support for subsequent research.Secondly,it defines and divides the countries along the“Silk Road Economic Belt”,and analyzes China's “Silk The current situation of direct investment in countries along the road economic belt and China's constraints on direct investment in countries along the Silk Road Economic Belt;then using the Moran Index to detect China's direct investment in countries along the Silk Road Economic Belt Spatial autocorrelation,by constructing spatiallag model and spatial error model,analyzing China's influencing factors on direct investment in countries along the Silk Road Economic Belt;finally,based on model prediction results and China's countries along the Silk Road Economic Belt The constraints of direct investment are proposed from the government level and the enterprise level.This paper finds that(1)China's foreign direct investment in countries along the“Silk Road Economic Belt” is affected by the “third country effect”,which mainly comes from the market potential around the host country and unpredictable factors from third countries.(2)host country heterogeneity factors such as the availability of natural resources,the level of basic implementation,labor costs and China's exports to the host country,economic openness,etc.have significant impact on China's OFDI,but these factors have an impact on countries with different income levels.The difference.