The Impact Of Ofdi On Transformation And Upgrading Of Industrial Structure

At present,China is in an important period of industrial transformation and upgrading and an important pass of high-level opening up to the outside world.Structural problems have become increasingly prominent in the high-quality development of China’s economy.In the context of domestic circulation and international and domestic double circulation,FDI shows a steady growth trend and plays an important role in the transformation and upgrading of China’s industrial structure.It is an important means to promote industrial quality improvement,efficiency enhancement and efficiency upgrading.This paper,which is divided into five parts,summarizes and analyzes the impact of OFDI on the transformation and upgrading of industrial structure.Firstly,this paper defines the concepts of OFDI and industrial structure transformation and upgrading from the theoretical level,and summarizes OFDI theory from the perspective of classical theories,laying a foundation for the following analysis.Then,it presents the current situation of OFDI and industrial structure transformation and upgrading,and shows the historical evolution and country distribution of Chinese investment going global according to the division of development stage,overall scale,capital flow and industry distribution.Secondly,based on the theoretical analysis framework,this paper discusses the mechanism of reverse technology spillover from the perspective of absorptive capacity,and introduces institutional environment factors to explain the internal mechanism and put forward corresponding hypotheses.Thirdly,the promotion effect of OFDI on the multi-dimensional industry of our country is one of the key issues that this paper focuses on.By synthesizing the comprehensive index of the quality,benefit and efficiency of industrial transformation and upgrading with the entropy method,this paper studies the impact of OFDI,and uses the two-way fixed effect model to select the provincial panel data of 15 years.OFDI will improve the quality,benefit and efficiency of the transformation and upgrading of China’s industrial structure.Combined with the regulating variable of absorptive capacity and the threshold variable of institutional environment,this paper studies the internal influence mechanism and dynamic change path,and carries out heterogeneity analysis on the basis of dividing provinces into eastern,middle and western regions.Compared with the central and western regions,the industrial structure in the eastern region can benefit more from FDI,and the reverse technology spillover mechanism in the eastern region is less negatively affected by absorptive capacity.Finally,starting from the policy level and the investor level,two targeted opinions and suggestions are put forward respectively.Our country should create a good international cooperation environment for OFDI,improve the supporting service system,strengthen the standard guidance at the policy level,promote the international exchange and cooperation of scientific and technological talents,enterprises should also formulate technological innovation plans,strengthen the construction of industry associations and professional organizations.We will improve the efficiency of technological innovation with market orientation and jointly promote high-quality development.