Research On The Green Development Effect Of Foreign Direct Investment In Chinese Manufacturing Industry

At the Fifth Plenary session of the 18 th CPC Central Committee,General Secretary Xi Jinping discussed the five major development concepts of "innovation,coordination,green,openness and sharing" and emphasized "promoting green development" in the report of the 19 th CPC National Congress.With the solid progress of the construction of "Belt and Road Initiative",China’s foreign direct investment is showing a good development trend.Domestic industrial transformation and upgrading promotes sustainable economic development.Manufacturing industry,as the main industry of China’s foreign direct investment,takes "opening" and "green" as the starting point to study the green development effect of manufacturing foreign direct investment.To a certain extent,it has practical significance for green development.This thesis analyzes the influence of manufacturing OFDI on China’s green development from the three major effects of manufacturing OFDI on green development,namely,productivity effect,structure effect and environmental effect.In order to further explore the synergistic relationship between China’s manufacturing OFDI and China’s green development,and whether there are obstacles that make the impact of manufacturing OFDI on green development change.Based on the time series data of China’s manufacturing OFDI from 2004 to 2017,this thesis tests from the following two aspects: first,using the grey correlation entropy model,the absolute scale,relative scale and the proportion of manufacturing investment in China’s manufacturing industry are selected as the reference series from the perspective of manufacturing OFDI,and the grey correlation entropy is calculated and analyzed with the contrast series to measure green development.The empirical results show that there is a coordinated development relationship between manufacturing OFDI and green development since 2012,and manufacturing OFDI has significantly promoted the green development of our country.Secondly,the green development index system is constructed to calculate the green development index,and the VAR model is established to investigate the dynamic influence of manufacturing OFDI on green development.The possible obstacle factors of green development effect are analyzed,and the cross-items of various influencing factors and manufacturing OFDI are introduced into the regression model for empirical test.The empirical results show that manufacturing OFDI and manufacturing labor productivity positively promote green development,while financial development,manufacturing FDI and trade openness all weaken the positive promoting effect of manufacturing OFDI on green development.Among them,the obstacle degree of trade openness is higher than other factors,followed by financial development level,manufacturing FDI has the lowest barrier influence,and when all cross items are introduced,The OFDI coefficient of the manufacturing industry decreased significantly and the value decreased significantly.According to the above analysis results,this thesis focuses on expanding the advantages of opening to the outside world,cultivating the ability of innovation,making rational use of financial tools,focusing on the development of green industry,promoting the organic integration of two-way FDI and optimizing the industrial structure.This thesis puts forward relevant countermeasures and suggestions on the implementation of a series of measures for energy saving and emission reduction,the construction of ecological civilization system,the creation of a good green development environment,and the implementation of green development strategy,in order to improve the level of green development in our country,promote the "green" development of economy and the sustainable development of resources and environment,and provide reference for realizing green development in an all-round way.