Can OFDI Promote The Technological Innovation Of Chinese Enterprises?

With the acceleration of China's "going global" pace,Chinese enterprises' OFDI has developed rapidly in both quantity and scale.At the same time,the gradual easing of Sino-U.S.Trade frictions has been transformed,and alternative trade has gradually returned to normalization.However,when reviewing the development process of the trade friction between the two countries,the United States has gradually deepened restrictions on the export of upstream technology products,prohibiting the use of U.S.companies to provide technical equipment to Huawei,and bans Providing mobile phone chips for ZTE,etc.,has revealed an important problem that companies face in the development process-excessive reliance on foreign technology product imports,and lack of independent innovation capabilities.Constantly acquiring technology from the host country through OFDI and increasing the capacity for independent innovation have also received increasing attention from the academic community.This article first sorts out the literature on OFDI,corporate technological innovation,and the impact of OFDI on technological innovation,and summarizes the characteristics and future development of these studies.Then,in the theoretical mechanism test,this paper constructs technologically backward developing countries whether it is possible to obtain foreign advanced technology through OFDI,to achieve a dynamic mechanism model of its own technological innovation,and to find the rate of technological progress when the economy reaches a steady state;Finally,this article uses 1999-2013 industrial enterprise data and the company's OFDI directory matching data,using the PSM-DID method,to test the causal impact of full sample OFDI and heterogeneous OFDI on technological innovation at the micro-enterprise level,and the results are robust after replacing the proxy variables of innovation.This paper theoretically proves that OFDI has a positive promotion effect on the technological innovation of the home country's enterprises,and that the higher the technological level of the host country's OFDI,the greater the promotion of technological innovation in the home country;OFDI has significantly promoted the technological innovation of home country enterprises,and the technological innovation effect of private enterprises is greater than that of state-owned enterprises.The effect of OFDI on technology promotion of enterprises in the eastern region is greater than that of enterprises in the central and western regions.The technological promotion effect of enterprises with strong absorptive capacity is greater than that of enterprises with weak absorptive capacity.OFDI has the largest technological promotion effect for technology-acquired OFDI,has a middle-level technology promotion impact on market-exploiting OFDI enterprises,and has the least impact on resource-seeking OFDI enterprises.Based on the analysis of the above conclusions,this paper believes that the government should encourage enterprises to make direct foreign investment,encourage private enterprises to go global,and diversify the main body of OFDI enterprises.On the premise of ensuring the secure supply of domestic energy resources,encourage technological acquisition OFDI.Enterprises should increase investment in technology research and development and human capital to improve their own technology absorption capacity.State-owned enterprises should further promote internal reforms and increase innovation in internal management methods.In addition,companies cannot blindly make direct foreign investment.At the same time,they must take into account the risks that may exist to maximize the OFDI technology spillover effect.