Research On The Relationship Between FDI And China's Manufacturing Technology Innovation

In order to transform China from a manufacturing power into a manufacturing power,it is urgent to enhance the technological innovation capability of the manufacturing industry.Nearly half of the Foreign Direct Investment in 2018 went to the manufacturing industry,which greatly promoted the technological innovation in China's manufacturing industry.However,foreign-funded enterprises restrain technological innovation in China's manufacturing industry by setting high patent transfer costs and attracting Chinese technical talents with high salaries,and adopt the means of sole ownership to offset the technology spillover effect brought by FDI.How to effectively use FDI to promote technological innovation in China's manufacturing industry has become an important issue for business and theoretical circles.Domestic and foreign scholars mainly study the relationship between FDI and technological innovation from the overall effect of FDI on technological innovation.From the perspective of technology spillover and technology extrusion,this paper studies the mediating effect of technology spillover and technology extrusion in the process of FDI influencing technological innovation in China's manufacturing industry.Based on the the theory of technology spillover,modern competition theory,the theory of technology spillover and the theory of technology gap,combing the mechanism of FDI on China's manufacturing technology innovation,this paper finds that FDI can be either by alleviating financing constraints,technological spillover,competition effect and agglomeration effect of four channels on manufacturing technological innovation in technology spillover,also can by making the manufacturing industry of our country has technology rely on,technology blockade,human resources grab of three channels on manufacturing technological innovation in technology extrusion.On the basis of theoretical analysis,the empirical part adopts ease the financing constraints,technology spillover effect,competition and industrial agglomeration four index comprehensive evaluation technology spillovers,the technology blockade,technology rely on and human resources grab three index comprehensive evaluation technology of extrusion,and the manufacturing process of technological innovation and technology innovation investment,manufacturing manufacturing technology innovation output three aspects the comprehensive evaluation of manufacturing industry technological innovation,the structural equation is used to construct the dual mediating effect model of FDI on China's manufacturing technology innovation through both technology spillover and technology extrusion,and based on 2005-2017 data of manufacturing pharmaceutical manufacturing sector,general equipment manufacturing sector,special equipment manufacturing industry,communication,computer and electronic equipment manufacturing,using structural equation model of partial least squares(PLS-SEM)empirically to test.The results show that FDI has significant positive technology spillover mediating effect and technology extrusion mediating effect on China's manufacturing technology innovation.According to the classification of high technology industry in our country,by industry R&D intensity is different,the samples of special equipment manufacturing industry and general equipment manufacturing industry were divided into high-tech group,and the samples of pharmaceutical manufacturing industry and communication,computer and electronic equipment manufacturing industry were divided into low-technology group for comparative analysis,found that,in the samples of the high-tech group,technology spillover is explained jointly by easing financing constraints and industrial agglomeration,technology extrusion is explained jointly by technology dependence,while in the samples of the low-technology group,technology spillover is explained jointly by technology spillover and industrial agglomeration,and technology extrusion is explained jointly by technology blockade.At the same time,in the two groups of samples,FDI has a significant technology spillover mediating effect on the technological innovation of China's manufacturing industry,and the coefficient of technology spillover mediating effect is larger in the low-technology group.Therefore,specific FDI policies should be formulated according to the characteristics of different industries of manufacturing industry,so as to promote China's manufacturing technology innovation.