Study On "One Belt And One Road" Countries' Investment Facilitation And Its Influence On China's OFDI Development

In the international context of the intensification of Global trade protectionism,international direct investment has become an important way to promote the global flow of resources,optimize the allocation of resources and promote global economic development.In 2015,the government of China officially released "promote the vision and action of the Silk Road Economic Zone and the 21st century of Marine Silk Road",which emphasizes"accelerating the process of investment facilitation and eliminating investment barriers".As an important factor in attracting China's direct investment,investment facilitation will affect the development process of China's direct investment to the countries along the line to a certain extent.Therefore,under the background of the"one belt and one way" initiative,it is of great significance to systematically study theinvestment facilitation of the countries along the line and its impact on China's directinvestment.Firstly,the paper makes a theoretical analysis and empirical research on the impact of investment facilitation on China's OFDI.The theoretical research shows that:Investment facilitation is mainly affected by five factors:infrastructure construction,business environment,rule environment,financial service efficiency and information technology application,and through these five channels,it has a certain impact on the investment country OFDI.Then,the empirical research is carried out by principal component analysis and multiple regression.By constructing a systematic index system of investment facilitation and measuring the level of investment facilitation of countries along the line,it is found that:The investment facilitation of the "one belt and one road" area shows significant differences,and most of them show a slow upward trend over time.On this basis,this paper establishes a multiple regression model to study the impact of investment facilitation level on China's direct investment.The results show that the host country's investment facilitation level can significantly attract China's direct investment,and the impact of various indicators shows great differences.Finally,this paper gives some policy suggestions on how to promote the interactive development of investment facilitation and OFDI in China:One is to rely on the cooperation mechanism to promote the investment facilitation of countries along the line.It mainly focuses on strengthening cooperation between China and the countries along the line in five aspects:infrastructure,business environment,rule environment,financial service efficiency and information technology application;The second is to rely on the cooperation platform with China to improve the investment cooperation mechanism,so as to lay a solid foundation for promoting China's investment in countries along the line.