Effective Analysis And Strategic Research On China's Banking Industry Supporting Enterprises “Going Out”

The strategy of "going out" is a necessary choice for a certain stage of economic and social development in a country.In order to comply with the inherent requirements of economic globalization and inject vitality into all-round economic and social progress in our country,in 2000,the strategy of "going out" was formally put forward at the Third Plenary Session of the Ninth NPC,which marks that China's reform and opening up dominated by "bringing in" has entered into a new stage and that promoting international competition and cooperation in a wider area and higher level has become a key way for China to optimize the allocation of resources and transform the mode of economic development.The "going out" of an enterprise includes two aspects.In a broad sense,it refers to the forms of foreign economic exchanges such as foreign trade,overseas project contracting and foreign direct investment.In a narrow sense,it refers only to the external output of capital,that is,the outward direct investment of an enterprise.The research in this paper is the narrow "going out".As a higher form of international economic cooperation,China's foreign direct investment has developed rapidly in recent years,especially with the vigorous promotion of the "One Belt and One Road" construction,China's foreign direct investment has maintained a rapid growth,even in the face of the slowdown of the global economic recovery and the trend of "anti-globalization".In 2016,the foreign direct investment of Chinese enterprises reached 183.2 billion U.S.dollars,of which direct non-financial investments amounted to 1.12992 trillion yuan(about 170.11 billion U.S.dollars,increased by 44.1% over the same period of last year),which not only has the growth rate tripled in 2015,but also exceeded the barrier of 1 trillion yuan for the first time.While maintaining the growth of foreign direct investment flows for 14 consecutive years,it also ranked the second in the world for the second consecutive year,ranking second only to the United States.However,it is undeniable that while foreign direct investment has provided a powerful impetus to the sustainable development of our economy,there are still many difficulties.The relative lag of China's banking industry in the construction of the international financial support system is an important bottleneck that restricts the "going out" of our country's enterprises,which has hindered the pace of deepening the implementation of China's opening-up strategy.As the most important carrier of capital elements,the banking industry plays an irreplaceable role in promoting the integration of industry and finance and improving market efficiency.Especially in the current context of increasingly turbulent international financial environment,professional financial services ability and perfect financial network layout not only can effectively improve the efficiency of overseas operations of enterprises,but also can help enterprises to reduce the risk of multinational operation.Therefore,it plays an important supporting role in the development of enterprises OFDI.In recent years,although China's banking sector has made some breakthroughs in the internationalization,international business development and innovation,but there are still serious "gaps" in comparison with the huge financial service needs of "going out" enterprises.Therefore,how to give full play to the role of banking industry in boosting the economy and continuously improving China's banking sector's financial service support for the international operation of enterprises has become an urgent issue to be solved in the "going out" strategy and the "One Belt and One Road" process.In view of this,on one hand,this article starts from the theoretical point of view.By analyzing the threshold effect of "going out" and the mechanism of banks,this article tries to explore the obstacles and problems of our country's banking industry in supporting enterprises to "going out”.On the other hand,relying on the conclusion of theoretical analysis,this paper also analyzes the interactive impact between China's banking industry and “going out” enterprises from an empirical point of view,and analyzes the impact of banking on the promotion of Chinese enterprises' OFDI at the micro level.By making a scientific evaluation of the effect of China Banking Industry Supporting Enterprises to go out,this article will provide enlightenment and references for further clarifying the direction of the future development of China's banking industry and optimizing the banking industry's path of support for enterprises to "going out".The whole text consists of eight parts.The first chapter is introduction,systematically reviewing the research thread,ideas and research methods,and based on this,puting forward the innovation and difficulties of the research so as to provide clear clues for understanding the structure of the full text.The second chapter is the literature review.At present,domestic and foreign scholars have made some achievements in the research on foreign direct investment of enterprises and banks.In order to effectively avoid the study of "duplication" and broaden the research space,this chapter summarizes the theoretical system of the enterprises' foreign direct investment(FDI)and international financial support of the banking industry in eight aspects: the connotation of "going out",the theory of OFDI,the motivation of enterprises' "going out",the motivation of banks' "going out",the location selection of banks' "going out",the operating performance of "going out" of banks,financial service support enterprises "going out" and China's banking industry support enterprises to "go out".Therefore,while providing a powerful theoretical reference and literature support for this article,it further clarified the shortcomings of related research in our country and pointed out the direction of this research path.The third chapter,the threshold effect of enterprise's "Going out" and the supporting mechanism of banks.Although the pace of "going out" of our country's enterprises is accelerating day by day,the threshold constraint of objective existence still causes a great deal of enterprises to miss the extremely valuable "going out" opportunities and hinders the internationalization of Chinese enterprises and upgrading of industrial structure.Under this current situation,this chapter starts with three aspects: the productivity threshold,the financing constraint threshold and the information asymmetry threshold.Through the theoretical derivation,this chapter explains the restriction mechanism of different constraints on the "going out" of the enterprise and the mechanism that the bank helps the enterprise to cross the threshold effect,providing theoretical support for the follow-up study.The fourth chapter analyze the current situation of the banking support enterprises "going out" in China.This chapter systematically examines the development status of the internationalization of Chinese enterprises and banks,and gives an overall consideration of the current "going out" of China's banking-backed enterprises.Based on this,this chapter also explored the problems and obstacles in the "going out" of banking-backed enterprises,thus providing a strong empirical basis for improving our overseas banking support strategy.The fifth chapter analyze the effect of the China's banking industry supports enterprises to "go out".This chapter from the empirical point of view,takes the 18 most important national and regional data of investment cooperation with China from 2008 to 2015 as samples and uses the extended investment gravity model to quantitatively analyze the interactive relationship between China's banking industry and enterprises' “going out”.At the microscopic level,this chapter scientifically evaluates the extent and effect of the China's banking industry to promote enterprises' “going out” and provide guidance for the banking industry to strengthen the financial support for "going out" enterprises and to crack down on existing constraints.The sixth chapter introduce the international experience of banking support enterprises to "go out".At present,all the major economic powers in the world attach great importance to the financial support construction of enterprises "going out",by continuously improving the quality of financial services and increasing the pace of financial innovation,these countries have effectively cracked the bottlenecks that restrict the "going out" of their domestic enterprises and laid a solid foundation for safeguarding the operating interests of their overseas enterprises and achieving healthy and orderly development.This chapter analyzes in detail the practices and models of the banking industry in the EU,the United States and Japan in supporting the internationalization of enterprises and sums up the corresponding successful experiences in order to provide a realistic reference for improving the banking support system in China.The seventh chapter is China CITIC Bank case study on supporting enterprises to "go out".As one of the most successful joint-stock bank in the internationalization of our country,CITIC Bank has been leading the international financial service construction in China.Based on the case of CITIC Bank supports enterprises to "go out",this chapter explores the mechanism of "going out" of China's banking support enterprises through analyzing CITIC Bank's international development paths,relevant key products and the outcome of the support of "going out",and gives a deep inspiration to the overall improvement of the international service efficiency of the banking industry in our country.The eighth chapter includes main conclusions and policy recommendations.This chapter will make a systematic summary for the research conclusions of the full text,and from the two aspects of the state and the banking industry,puts forward the corresponding policy suggestions for the banking industry in our country to enhance the support for enterprises to "going out".