| Since the 18th National Congress of the Communist Party of China,China has made historic achievements in the development of foreign trade,with the import and export scale and international market share reaching new highs.Since 2017,China has maintained its position as the world’s largest country in goods trade for five consecutive years.The positive results achieved in foreign trade have become a major highlight of China’s economic development and made important contributions to stable economic growth.However,with the rise of the world’s anti globalization forces and the sluggish operation of the international industrial chain supply chain,China’s external environment for building a trading power has undergone profound changes,and is facing unprecedented opportunities and challenges.At the same time,the triple pressures of demand contraction,supply shocks,and weakening expectations have profoundly affected China’s foreign trade development to achieve "an increase both in quality and quantity".In 2021,the Ministry of Commerce issued the "14th Five Year Plan" for the High-quality Development of Foreign Trade,which aims to promote the high-quality development of foreign trade and construct a new development pattern for services.In promoting the high-quality development of China’s foreign trade,the role of outward foreign direct investment cannot be ignored.Through outward foreign direct investment,it can effectively integrate and utilize global resources,strengthen industrial linkages,and promote the high-quality development of China’s foreign trade.Therefore,as a booster for the high-quality development of foreign trade,it is worth in-depth study on the specific impact of foreign direct investment on the high-quality development of China’s foreign trade and how it will affect it.Firstly,on the basis of combing the relevant theories of outward foreign direct investment and high-quality development of foreign trade,this study elaborates the mechanism of outward foreign direct investment influencing high-quality development of foreign trade from three aspects: economic growth effect,trade structure effect,and industrial upgrading effect,and constructs a theoretical model from the perspective of industrial upgrading to explain the impact relationship between the two.Secondly,this paper constructs an indicator system for high-quality development of foreign trade,and analyzes the spatial relevance and regional differences of high-quality development of foreign trade in China after using the entropy weight method to calculate.Thirdly,based on the panel data of 30 provinces(autonomous regions and municipalities)in China from 2011-2021,this paper analyzes the impact of outward foreign direct investment on the high-quality development of China’s foreign trade through the twoway fixed effects model,and draws conclusions.The conclusions of this study are as follows:(1)China’s outward direct investment has the characteristics of large investment scale,wide coverage area,and industry wide coverage,but there are still significant differences and uneven development among regions.(2)During the sample period,the overall high-quality development level of China’s foreign trade has shown a dynamic upward trend,but there are significant differences among provinces(autonomous regions and municipalities).(3)China’s outward foreign direct investment has a significant promoting effect on the high-quality development of foreign trade,and this promoting effect is mainly conducted through economic growth effects,trade structure effects and industrial upgrading effects.(4)The promotion effect of China’s outward direct investment on the high-quality development of foreign trade is heterogeneous between the eastern,central,western and northeastern regions,as well as between provinces(autonomous regions and municipalities)along the "the Belt and Road" and provinces(autonomous regions and municipalities)not along the "the Belt and Road".Finally,based on the above conclusions,this study proposes countermeasures and suggestions to better promote high-quality development of foreign trade through outward foreign direct investment based on actual conditions. |
