A Study On China's Direct Investment In ASEAN Countries

With the continuous rise of economic globalization,foreign direct investment has become one of the best ways for all countries to develop their own economy,strengthen economic and trade exchanges with investment countries,and promote mutual benefit and win-win results.Since the reform and opening up,China's economy has developed by leaps and bounds through attracting foreign investment and foreign investment.Among them,ASEAN is a key partner of China's foreign direct investment.Many factors have attracted China to invest in it.In addition to being close to China's geographical location and having a natural geographical advantage,it also has abundant natural resources,cheap labor markets,and good economic development momentum.It has been continuously upgraded in the China-ASEAN Free Trade Area,the affection of investment in the construction of the ASEAN Economic Community and with the promotion of the role and smooth implementation of the "Belt and Road" initiative.ASEAN,as an important part of the "21st Century Maritime Silk Road" construction,has become a key area for China's foreign direct investment cooperation.According to the analysis of investment-related theories and the combing of the literature,we can see that the level of investment facilitation can affect foreign direct investment and has a significant role in promoting direct investment.Therefore,it is of great economic significance to study China's direct investment in ASEAN countries from the perspective of investment facilitation,while promoting China's economic development,it can also fully release the investment potential of ASEAN countries.This article will take ASEAN as the research object,from the perspective of investment facilitation,and combine related investment theories to study China's investment in ASEAN countries.First of all,the current status of direct investment in the ten countries of ASEAN in this article,we can see that in recent years China's direct investment in ASEAN as a whole has continued to grow,and the investment field has continued to expand,but there are uneven investment regions and uneven industrial distribution.Secondly,construct five primary indicators including infrastructure,institutional environment,financial environment,business environment,and labor market,which are the basic contents of investment facilitation,and divide them into twenty secondary indicators.Use the entropy method to measure and analyze the investment facilitation levels of eight countries in ASEAN(Missing data in Myanmar and Brunei).It is found that the level of investment facilitation in Singapore and Malaysia is very convenient.The level of investment facilitation in other countries is average or poor.Among them,infrastructure score is the highest,and labor market score is the lowest.Thirdly,investment facilitation is introduced into the investment gravity model as the main explanatory variable.The empirical analysis method is used to study China's investment in ASEAN countries.Finally,based on the above theoretical and empirical analysis results,some suggestions are put forward after summary,such as strengthening the investment coordination capacity of all countries,striving to improve the relevant system,promoting the infrastructure construction,and improving the financial service system.