Research On Influencing Factors Of Foreign Contracted Projects

In recent years,although the development of Chinese foreign contracted projects has grown stronger,its development trend has gradually begun to show negative growth.In order to restore the development speed of Chinese foreign contracted engineering industry,promote the development of upstream and downstream industries and the participating in the international cycle and supply-side reforms of construction industry,implement the "going out" policy of domestic enterprises,goods and services,improve the level of cooperation and the competitiveness of foreign contracted projects,this article attempts to identify the key factors of Chinese foreign contracted projects,using a combination of theoretical analysis and empirical testing to explore,and put forward countermeasures and recommendations based on different dimensions.First,the thesis studied and analyzed the status quo of foreign contracted projects,sorted out the development scale,related policies,the opportunities and challenges in the development process of Chinese foreign contracted projects.Secondly,the international production compromise theory is applied to Chinese foreign contracted projects to establish a theoretical analysis framework.Based on the ownership advantages,internalization advantages,and location advantages of Chinese foreign contracted projects,the gross domestic product(GDP),the output of construction industry(TVC),the Outward Foreign Direct Investments(OFDI),foreign labor exporters(LAB),exchange rate(ER),trade export value(EXP),global economic policy uncertainty index(GEPU)and other specific variables are selected as explanatory variables for foreign contracted projects.According to the official statistical indicators of Chinese foreign contracted projects,the two explanatory variables,the completed turnover(FCP01)and the newly signed contract value(FCP02)of foreign contracted projects are selected for empirical analysis based on the VAR model to study their specific effects,and finally put forward countermeasures and suggestions based on the research results.The research results show that Chinese foreign contracted projects are affected by the gross domestic product(GDP),output of construction industry(TVC),Outward Foreign Direct Investments(OFDI),exchange rate(ER),trade export value(EXP),and the global economic policy uncertainty index(GEPU).Based on its specific methods of influence,this article will combine the development characteristics of foreign contracted projects,propose countermeasures and suggestions for optimization from the three dimensions of the country,industry and enterprises.It is recommended that foreign contracted projects,foreign direct investment and foreign exports jointly build an industrial chain.The "strong alliance" between the foreign contracted engineering industry and the high-tech industry is propose.And it is encouraged that Chinese foreign contracting enterprises will grasp economic development trends,pay attention to policy opportunities,adjust the market structure and avoid international risks.