Research On The Impact Of FDI Quality Characteristics On The High-quality Development Of Urbanization

Since the reform and opening up,China’s economic development has achieved a high growth rate.Nowadays,China’s economy has entered the stage of high-quality development led by urbanization,and how to promote the high-quality development of urbanization is an urgent issue that needs to be solved at present.In the context of China’s continuous expansion and opening to the outside world,the scale and quantity of foreign direct investment(FDI)inflows into China have been increasing year by year,and have gradually become a major driving force for the high quality of urbanization in China.However,the "quantity-oriented" FDI development model has made China’s current development too sloppy and has put great pressure on resources and the environment.Since entering the "new normal" stage,China is gradually shifting from sloppy growth to a growth model with high-quality growth as the core.Therefore,how to make better use of the quality characteristics of FDI to promote the high-quality development of China’s urbanization becomes the starting point of this thesis.Firstly,the relevant literature research on FDI quality and high-quality development of urbanization is sorted out,which is mainly divided into three parts: firstly,it starts from the relevant research results on FDI quality and urbanization quality,including the connotation of FDI quality and urbanization quality and their measurement methods,and also sorts out the research on the correlation between them;secondly,it defines the concept of FDI quality and high-quality development of urbanization;thirdly,it is based on Third,a theoretical analysis of FDI influencing urbanization development is conducted based on five perspectives:innovation,coordination,green,openness,and sharing.Second,the current development status of high-quality urbanization in China is analyzed by constructing a comprehensive evaluation system to measure the high-quality development of urbanization.Subsequently,suitable variables and panel data are selected to construct a model,and the spatial correlation of the data is tested through the Moran index,and after determining that the sample data have a positive spatial correlation,the spatial econometric model is selected to establish a spatial Durbin model for empirical analysis using inter-provincial panel data from 2006-2019,and the econometric model is tested for heterogeneity,and the robustness test is used to ensure the empirical stability of the results.The innovation effect and capital effect proposed in the theoretical analysis are further tested,and the empirical results are consistent with the theoretical analysis: that is,FDI can promote the high-quality development of China’s urbanization through the mediating variable of financial technology based on the innovation effect and capital effect.Based on the empirical results,the main conclusions drawn are:(1)The level of high-quality development of urbanization in China largely maintains an upward trend,and there are large differences between the comprehensive urbanization quality of provinces and cities and the quality of urbanization in five different dimensions,and the quality is unbalanced,with large differences among regions.(2)From the national level,the profitability of FDI promotes the high-quality development of urbanization in the region,with a strong positive spatial spillover effect;the management capacity and technology level of FDI not only promote the high-quality development of urbanization in a certain region,but also enhance the high-quality development level of urbanization in neighboring regions through the positive spatial spillover effect,and the promotion effect is more significant;the actual scale of FDI promotes urbanization FDI export capacity significantly inhibits the development of high quality urbanization in the region.(3)At the regional level,for the eastern region,the regression results of five different FDI quality characteristics on the level of high quality urbanization development are basically consistent with the results of the national sample;FDI profitability,management capacity and technology level have significant effects on improving the level of high quality urbanization in the central region of the ministry The actual size of FDI is not significant in promoting the central and western regions.FDI export capacity does not have a significant effect on promoting the level of high-quality development of urbanization in the central region but has a significant effect on enhancing the western region.(4)By testing the innovation effect and capital effect in the theoretical analysis,it is found that FDI can enhance the level of high-quality development of urbanization in China based on the innovation effect and capital effect,through the intermediary variable of financial technology.Finally,based on the main research findings,the following targeted suggestions are put forward: first,optimize the industrial and regional investment of FDI to narrow the development gap of urbanization quality between regions in China and promote the overall coordinated development;second,introduce FDI that suits the development characteristics of regions themselves to improve the efficiency of resource allocation and promote the efficient development of urbanization in China;third,develop the digital economy and accelerate the pace of financial technology development to drive innovation with high-quality development of urbanization.