| In recent years,the speed of construction of Chinese Overseas Economic and Trade Zones has gradually accelerated.According to the statistics from China Council for the Promotion of International Trade.By the end of 2018,there are a total of 103 Overseas Economic and Trade Zones included in the statistical scope of China,of which 82 Overseas Economic and Trade Zones have been established in the countries along "the Belt and Road",accounting for about 80%.As a foreign investment model with Chinese characteristics,Overseas Economic and Trade Zones has a profound impact on Chinese foreign direct investment and play an irreplaceable role in promoting the construction of the "Belt and Road" and international cooperation in production capacity.Under the background of "the Belt and Road Initiative",the Overseas Economic and Trade Zones is of great significance to promote the economic development,industrial upgrading and industrialization of the countries and regions along "the Belt and Road",and also strengthen the economic and trade exchanges and diplomatic relations between China and the relevant countries and build a community of shared future with mutual benefit.With the increasing international status of Chinese Overseas Economic and Trade Zones,the related research in the cooperation zones has also increased rapidly,and there is few literature on the empirical analysis of their impact.In the context of "the Belt and Road Initiative",based on the data of 41 countries and regions along "the Belt and Road"from 2003 to 2018,this paper intends to use an extended investment gravity model and systematic GMM estimation method to empirically analyze the impact of the Chinese Overseas Economic and Trade Zones on Chinese foreign direct investment.First of all,this paper outlines the background and significance of the construction of China's overseas economic and trade cooperation zones.Then it introduces the theoretical basis of the article from the aspects of the theory of international direct investment,the theory of new geographical economics and the theory of development economics.And then it sorts out and summarize the existing relevant literature at home and abroad and determine the appropriate research direction and method.Secondly,this paper makes a descriptive analysis of the current situation of the development of Chinese Overseas Economic and Trade Zones in terms of the general situation,main characteristics and challenges,and it is found that Chinese Overseas Economic and Trade Zones are mainly facing the following challenges:the positioning of the zone 's leading industries needs to be clarified and scientific planning;the investment risk prevention mechanism and financing policy support of the zone need to be strengthened;the reserve of overseas talents of the zone is insufficient;the communication mechanism between enterprises in the zone and the government is not perfect,etc.Thirdly,the main conclusions of this paper are as follows:the construction of Chinese Overseas Economic and Trade Zones and the implementation of "the Belt and Road" have significantly promoted Chinese foreign direct investment in countries and regions along "the Belt and Road".In addition,the implementation of "the Belt and Road"can promote the development of Chinese Overseas Economic and Trade Zones to a certain extent and play an active leading role.Finally,in order to promote the development of overseas economic and trade cooperation zones better and faster,this paper combines the problems existing in the development of Chinese Overseas Economic and Trade Zones and puts forward the following suggestions:reasonably locate the cooperation zone to ensure scientific and accurate planning;broaden the financing channels of enterprises in the cooperation zone and improve the talent introduction system;strengthen risk prevention and improve risk response mechanism;improve the communication mechanism between the cooperation zone and the government,and strengthen the information communication between the two sides. |
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