The Empirical Study On China's Outward Foreign Direct Investment Choices Of Investment Facilitation Of The Countries Along "One Belt,One Road"

The “One Belt,One Road ” planning and layout is a great strategy formulated by china in its efforts to meet new conditions,new changes,new environments,new developments,and new requirements.Because there are considerable differences in resources reserves,energy reserves,institutional environment and religious beliefs among the regions of the “One Belt,One Road ”,there is a great potential for mutual complementarity of resources and complementary industries.Therefore,we could say that trade and investments in the countries along “One Belt,One Road ” will play a significant and powerful role in solving excess capacity and optimizing the industrial structures.In the process of early planning and post-stage planning,exploring the investment system environment and investment policies of each region along the route and grasping the choice of China's direct investment locations in countries along the route will help China to promote a new round of high-level opening to the outside world and comprehensively deepen international production capacity cooperation.In the current theoretical community,research on facilitation has been fruitful,and its content,evolution,measurement,and effect assessment have all been thoroughly explored.However,it is worth nothing that the focus is mostly on the trade field and the discussion on the investment field is still insufficient.On the basis of previous research,this article takes investment facilitation as the main research line,and countries along the “One Belt,One Road ” as the research object.Through the use of factor principal component tools and empirical analysis methods,the focus has been on the level of investment facilitation in the countries along the route and its impact on china's foreign direct investment location choices.First of all,the article tries to elaborate the theory of Transaction Cost,The Eclectic theory of International Production,Small-scale technology Theory,The theory of Motivation Factors Combination Theory to find theoretical support for the research issue and explains the mechanism of investment facilitation based on the theories.Then the paper elaborates the scale and proportion of investment of China's in different regions and different countries,meanwhile the paper will construct six major first-level indicators(including quality of government management,quality of infrastructures,quality of regulations,quality of technologies,financial market environment,quality of doing business)and twenty-two second-level indicators to complete the investment facilitation evaluation system,meanwhile the paper will analysis the measurement results of countries of “One Belt,One Road ”.Thirdly,the paper quantitatively analyzes the level of influence of investment facilitation in the countries along the route and its degree of influence on China's foreign direct investment location selection based on the investment gravitation model.The results show that investment facilitation has a significant role in promoting China's direct foreign investment,especially the effect of quality of regulations,quality of infrastructure and quality of financial environment.At the end of the paper,it puts forward some suggestions on how to give priority to investment facilitation measures under the limited resources which is based on the above theoretical research and empirical analysis.