Research On The Impact Of Overseas Investment On The Export Trade Of Chinese Enterprises

For a long time,overseas investment and overseas relationship has constantly been a main focus point on economic society.Lots of researches show that there's a huge influence about overseas investment on export scale and we get a conclusion that overseas investment had a role in promoting or replacing export scale.However with global value chain development,the economic and trade cooperation of various countries is becoming more and more complex,which is limited to the study of the relationship between overseas investment and export from the export scale perspective,which is difficult to meet the needs of social practice and the related theories development.Especially for current fast cultivate new advantage competition background,general analysis overseas investment influence to export scale,it is of great significance to the economic and trade undertakings of our country and even to the whole country economy and social development.In the latest guidance on promoting the high quality development of trade issued by the Chinese government in November 2019,it is clear that it is necessary to improve the quality of trade products as soon as possible and optimize the trade structure and other specific requirements.This shows that China's export trade urgently needs to advance towards high quality development direction.At the same time,the expanding overseas investment has not only effectively raised the Chinese enterprises position in the global value chain,promoted the implementation and development of the "Belt and Road" initiative,but also had many effects on China's export trade.Therefore,under the background of increasing scale and influence,overseas investment is discussed deeply.The influence of China's export trade is of great significance to accelerate the cultivation of new competitive advantage and to promote the healthy development of export trade.Overseas investment and export are an important way for enterprises to go overseas,and they are close to each other.The research has shown that the overseas investment of enterprises has a certain promotion or substitution effect on the scale of the export.Therefore,whether overseas investment can play the due role in terms of export quality and structure is worth further exploration.Therefore,based on new advantages of cultivating export trade,deeply research overseas investment influence to Chinese export trade business,and select the quality of export,products and market structure perspective to analyze.AS it may concerned is that these three are main point of business export trade,and the important power point for business to cultivate new competition advantages.On the basic of demotic and foreign current literature,combined with China overseas investment and export trade situation,finally confirm research technique,including the method of combining qualitative and quantitative analysis,the method of combining theoretical analysis with practical analysis.First discuss about basic fact and theoretical aspect to tell us the overseas investment influence to export trade;secondly take advantage of Chinese enterprises microcosmic data construct metrological model in 2000-2012(except 2010)and use double differential propensity score matching method(PSM-DID),rationally analyze overseas investment influence to Chinese export trade;finally,by case analysis method to confirm whether overseas investment has an influence on export trade in reality.In the specific layout of the framework,this thesis includes nine chapters.The first chapter is introduction,which briefly introduces the background and significance of the topic,research ideas and framework,research methods and innovations of this thesis,and so on.In the second chapter,the literature review is shown.The third chapter is the development status of Chinese overseas investment and export trade.In the fourth chapter,the impacts of overseas investment on export trade of enterprises are analyzed in mechanism.Particularly,it studies the transmission mechanism of the impact of overseas investment on export quality,export product structure and export market structure of enterprises respectively.The fifth chapter is the empirical test of the impact of overseas investment on the export quality of enterprises.It studies the impact of overseas investment on export quality from three aspects: total sample,types of overseas investment and types of export products.In chapter six,an empirical test of the impact of overseas investment on export product structure is also carried out.Moreover,it also studies the impact of overseas investment on the export product structure of enterprises from three aspects: total sample,types of overseas investment and types of export products.In chapter seven,an empirical test of the impact of overseas investment on the export market structure of enterprises is carried out,which focuses on selecting the concentration of export market and the quantity of export market as the measurement indicators of the export market structure of enterprises.At the same time,it also studies the impact of overseas investment on the export market structure of enterprises from three aspects: total sample,types of overseas investment and types of export products.Chapter eight is a case analysis.In chapter nine,it is the conclusion and suggestion.The following conclusions can be drawn from this thesis:At first,overseas investment is conducive to improving the export quality of enterprises.In terms of impact mechanism,the reverse technology spillover effect and intermediate import quality promotion effect,produced by enterprises in the process of participating in overseas investment,can indirectly stimulate the improvement of domestic export product quality.In terms of specific impacts,business service and diversified overseas investment are more conducive to the improvement of export quality of enterprises when compared with manufacturing and resource development of overseas investment.When compared with capital goods,overseas investment behaviors of Chinese enterprises can promote the improvement of export quality of consumer goods and intermediate goods.Therefore,for the enterprises trying to improve export quality by overseas investment,they should consider the scope of their export products and the types of overseas investment as appropriate.Secondly,overseas investment is conducive to the adjustment of export product structure(concentration of export market and diversification of export market).In terms of impact mechanism,overseas investment can reduce the concentration of export products through landing production,and also can help enterprises to develop new products(find new production technologies and inputs from overseas)and export,or help products that have never been exported to find export opportunities.In terms of specific impact,overseas investment can effectively improve the level of diversification of enterprises' export products while the conditions of non-resource-based overseas investment are required.However,aimed to reduce the dependence of enterprises on core export products,overseas investment needs to meet more restrictive conditions,including non-resource-based overseas investment and export products,which don't belong to intermediate products.Thirdly,overseas investment is conducive to the adjustment of export market structure of the enterprises(concentration of export market and diversification of export market).In terms of impact mechanism,the substitution of overseas investment for export can reduce the concentration of export market of enterprises.The stable business links of overseas investment in foreign markets(investment host country and thirdparty market)can help parent country companies to open up new export markets.In terms of specific impact,overseas investment beyond resource development is conducive to optimizing the export market structure of enterprises.In addition,it is easier for overseas investment to increase the market quantity of various export products.Therefore,overseas investment is an effective way for enterprises,that want to expand the scope of overseas export market.The last but not the least,the state-owned capital,Hong Kong,Macao,Taiwan and foreign capital of enterprises can be timely used as supplementary measures when Chinese manufacturing enterprises adopt overseas investment to adjust export quality,export market structure and export product structure.When enterprises use overseas investment to improve export quality,they can choose to reduce the proportion of stateowned capital or increase the proportion of Hong Kong,Macao,Taiwan and foreign capital as supplementary measures.When enterprises use overseas investment to optimize the structure of export market,they can also reduce the proportion of stateowned capital,Hong Kong,Macao,Taiwan and foreign capital as supplementary means.When enterprises use overseas investment to improve the structure of export market,they can choose to reduce the proportion of state-owned capital or increase the proportion of Hong Kong,Macao,Taiwan and foreign capital as a way of strengthening.The innovation of this thesis is mainly manifested in the following aspects: first,the research perspective is relatively novel.With regard to the research on the impact of overseas investment on export trade,the existing literature mainly focuses on the export scale,but few of them deal with export quality,export product structure and export market structure.This thesis selects new analytical ideas and focuses on the impact of overseas investment on the export quality of enterprises,export product structure and export market structure,which is a useful supplement to the existing research in related fields.Second,the research methods are more comprehensive,including qualitative and quantitative analysis,theoretical analysis and practical analysis,and so on.The same research methods have obtained the basic consistent research conclusions,thus improving the accuracy of the conclusions of this thesis.Third,the time span of the sample data selected by the research institute is longer.Because of the great changes in China's overseas investment and export trade after 2008,it is difficult for the previous research to reflect the actual economic operation of China at present,so this thesis extends the sample data interval to 2012,which makes the research conclusion more in line with the actual situation,but also more conducive to the analysis of the impact of overseas investment on enterprises' export trade.Fourth,the research countermeasure has more.Realistic pertinence has certain reference function for our country to speed up the cultivation of export competitive advantage.