Research On The Impact Of Anti-dumping On Chinese Enterprises OFDI

After China joined WTO in 2001,the trade friction China suffered has not decreased,and it has become increasingly rampant.In recent years,China's trade frictions have been mainly anti-dumping.China has been the country with the most anti-dumping investigations in the world for 22 years.At the same time,outward foreign direct investment of Chinese enterprises has begun to grow substantially under the acceleration of the “going global” pace and the implementation of “the Belt and Road” initiative.From 2003 to 2016,China's foreign direct investment compound growth rate was 35%,and the number of investment host countries was as high as 189,covering developed and developing countries.Then,is there an intrinsic link between the rapid growth of China's foreign direct investment and the high anti-dumping China suffered? In this context,it is extremely important to clarify the relationship between anti-dumping and Chinese enterprises OFDI for China to build a higher level of open economy.In the theoretical part,the paper analyzes the impact mechanism of anti-dumping on outward foreign direct investment of enterprises through investment substitution effect,compensation investment effect and trade restriction effect,then,draws a preliminary conclusion that anti-dumping will lead to outward foreign direct investment.During the empirical stage,considering the structural characteristics of enterprise OFDI,this paper builds an empirical model of Chinese enterprise OFDI dual margin using the matching data of China Global Investment Tracker Database and Temporary Trade Barrier Database,based on the theoretical analysis,it further illustrates different impacts of anti-dumping on enterprise OFDI,then finds that:Firstly,anti-dumping has a significant positive effect on the extensive margin and intensive margin of enterprise OFDI.Secondly,from the point of enterprise ownership,anti-dumping has played a significant role in promoting the dual margin of state-owned enterprises OFDI,but the impact on private enterprises is not significant.Thirdly,in terms of investment destination countries,the promotion effect which developed countries' anti-dumping caused on the dual margin of enterprises OFDI is greater than that of developing countries.On this basis,this paper further explores the role of anti-dumping in promoting enterprises OFDI in the tire industry case.The research in this paper provides policy implication for Chinese companies tobetter “going global” in the context of anti-dumping: enterprises should actively and rationally employs OFDI to deal with anti-dumping and strive to minimize the negative impact of trade protection.At the same time,they must effectively enhance their core competitiveness in the international market and avoid anti-dumping from the source.In addition,industry associations and countries should also provide corresponding funds,manpower and institutional guarantees,and the three parties should work together to promote Chinese enterprises OFDI.