| With the rise of globalization, foreign direct investment (FDI) has become an important part for economic development in the process of globalization. China, as a developing country of biggest economic aggregate, has made remarkable achievements in outward direct investment (ODI) though started late. Especially since 2003, China’s sustainable and high-speed development in ODI has attracted much focus. Based on related studies at home and abroad and using both qualitative and quantitative methods, this paper takes China’s ODI as the subject, explores its spatial pattern evolvement in the past 10 years and the influencing mechanism from the geographical spatial perspective, aiming to enrich the related studies and to provide some reference for China’s future outward direct investment orientation, strategy and decision making.This paper can be divided into six chapters. In the first chapter, the research background, significance, methodology and mentality are illustrated in detail. In the second chapter, related studies at home and abroad are reviewed and summarized, laying a solid theoretical foundation. In the third chapter, the China’s ODI flow and stock statistics from the year of 2003 to that of 2012 are divided into 3 stages respectively, and its spatial pattern evolvement is studied from both global and continent scale. In the fourth chapter, China’s ODI of industry and its spatial distribution are explored according to the industry investment statistics in the six economic entities in the past 5 years. Based on the conclusions in last two chapters and related literature, the factors that influence China’s ODI spatial pattern evolvement are explored in the fifth chapter. In the last chapter, conclusions are summarized, defects and innovation points are generalized, and future in-depth study orientation are put forward as well.Some important conclusions are drawn as follows:(1) China’s ODI has experienced a remarkable and speedy development in flow and stock amount and industry distribution since 2003.(2) During the studied period, the spatial pattern of China’s ODI presents a tendency of decentralization and equalization, while drastic changes has taken place in spatial pattern under the impact of global financial crisis during 2008-2009. From global perspective, Australia, the USA, Russia, Kazakhstan and South Africa are also important destinations of China’s ODI besides the three "Tax Heaven"(Hongkong, Grand Cayman and British Virgin Islands); from the continent perspective, great amount of China’s ODI goes to Asia and Latin America, relatively smaller amount to other continents. (3)As for the China’s ODI of industry distribution, most goes to leasing and business service industry, mining industry, the wholesale and retail industry and manufacturing industry, with the majority concentrating in the six largest economic entities (including Hongkong, Russia, Australia, America, European Union(EU) and the Association of Southeast Asian Nations(ASEAN)). And China’s ODI of industry tends to become more and more extensive and wide-ranging in recent years. (4) The macro factors influencing China’s ODI spatial pattern evolvement include policy support, the rise of international prestige, enhancement of economic power, RMB appreciation and the market orientation. On the global scale, the influencing factors include tax avoidance, changes of world circumstances and resource seeking; on the continent scale, the factors influencing China’s ODI spatial pattern evolvement include geographic distance, cultural differences, the political risks in host countries, the bilateral relations with host countries and preferential policies of host countries. |
PDF Full Text Request