The Impact Of Investment Facilitation In One Belt And One Road Countries On China’s OFDI

Since the "new silk road economic belt" and "21st century maritime silk road" cooperation initiative,in recent years,China and "One Belt And One Road" countries along the trade and investment exchanges are increasingly close,become an important part of China’s outbound direct investment process.As One Belt And One Road countries have differences in political,economic and cultural inventions,improving investment facilitation in the region has become an important factor for mutual benefit and common development.Accelerating the process of investment facilitation,improving the investment environment of the silk road,improving the efficiency of resource allocation and adjusting the industrial structure have become important topics for China’s ofdi.On the basis of previous studies,this paper studies the influence of investment facilitation level of "One Belt And One Road" countries on Chinese enterprises’ ofdi by combining literature research,comparative research and empirical research.First of all,through the study of domestic and foreign literature,the relevant theories involved in investment facilitation and its impact mechanism are explained,and the status quo of China’s ofdi is analyzed from different dimensions.Secondly,based on Chinese companies to "area" countries in recent years,the current situation of investment by using principal component analysis(pca)the index system to measure the level of investment facilitation,and investment facilitation of national level measure analysis,the results show that the "One Belt And One Road" countries have significant differences in investment facilitation,Asia,America to the low level of most African countries investment facilitation,average level in most European countries,such as southeast Asia,the Nordic region investment facilitation in a leading position;Second,the level of investment facilitation is gradually improving in various countries,especially in eastern Europe and central Asia.Third,Asia has more advantages in terms of investment policies and systems,but is confronted with problems of lower infrastructure level,while European countries have better economic development degree and domestic business environment.Then the gravity model in this paper,by constructing investment empirically the level of investment facilitation,resources,market and investment facilitation factors such as the six dimensions of motivation and influence of foreign direct investment to the Chinese enterprise are analyzed,the results show that investment facilitation,the host country market size,labor cost,freer trade,bilateral investment treaties have significant positive effects on China’s foreign directinvestment,and the absolute distance between the two countries,tax level and technical level of China’s foreign direct investment have significant negative effects;Second,investment facilitation six dimensions of factors on the impact of China’s foreign direct investment is different,the administrative environment and system supply the most obvious,followed by the quality of infrastructure,business investment environment and economic environment,the current stage of scientific research quality and financial markets,there is no significant impact on China’s foreign direct investment;Third,the investment motives of Chinese enterprises in countries along the "One Belt And One Road" have gradually changed,and there are obvious market and efficiency motives.Finally,based on the research of this paper,Suggestions are put forward to promote the ofdi of China and countries along the "One Belt And One Road" belt and road,that is,to strengthen policy communication among countries,continuously improve the quality of infrastructure,innovate regional financial products and establish risk prevention mechanism.