Research On The Impact Of Environmental Regulation On China's Investment On 'the Belt And Road'

With the strategies of "going out" and the "The Belt and Road" being put forward and being actively promoted,Chinese enterprises' foreign direct investment has ushered in a broad space for development.Looking at the history of China's foreign investment cooperation,environmental issues are a matter of great concern to both investors and investees.China's investment projects in countries and regions along the“The Belt and Road” involve many areas such as resources and energy.Both sides of the investment industry are inevitably faced with the problem of how to deal with ecological and environmental issues.The differences in environmental regulation between different countries are The impact of the “The Belt and Road” investment is worthy of our research.This context,based on relevant theories and uses a combination of theoretical analysis and empirical analysis,under the investment gravitation model to empirically analyze data from 38 countries(regions)along the “ The Belt and Road ” in the decade of 2007-2016.Specifically,the research content of this article is mainly summarized in the following five parts.The first part is an introduction to explain the research background,purpose,significance and structure of this paper.Then from the relevant theoretical basis of environmental economics,related theoretical basis of OFDI and relevant theories of OFDI under environmental regulation,the theoretical basis of this paper is obtained,which provides strong support for subsequent empirical analysis,ie,the second part of this article.The third part of this article summarizes the characteristics and status quo of the current Belt and Road investment and explains it in detail.The fourth part deals with the model construction and data selection instructions for the impact of environmental regulation and “ The Belt and Road ”investment.The OFDI represented by China 's FDI flow along the “ The Belt and Road” is used as an explanatory variable,and the environmental performance index is measured.The relative environmental regulation is an explanatory variable.The relevant variables affecting investment,such as the host country's economy,host country's trade,and the host country's system,are introduced,and an empirical analysis is conducted using the investment gravitation model.The results of the study indicate that there is a significant negative correlation between host country environmental regulations along the “The Belt and Road” and China ' s investments along the “ The Belt and Road ”,that is,relatively highenvironmental regulations will prevent China from directly investing in it.The pollution-intensive enterprises in China's foreign investment structure still account for a relatively large proportion.In the face of environmental regulation,the cost of sewage disposal is relatively high.At the same time,the pace of environmental protection technology innovation of enterprises cannot keep up with the pace of policy implementation,in order to reduce this part."Environmental protection costs",companies often choose countries with relatively low environmental regulations for production.This paper proposes some corresponding policy recommendations on the formulation and implementation of investment policies and related environmental regulatory policies in light of China's national conditions,such as adjusting the industrial structure of foreign investment,strengthening international communication and cooperation,improving laws and regulations,strengthening international cooperation to prevent environmental risks,and urging The company innovates environmental technology.