A Study On The Impact Of China's Outward Foreign Direct Investment On The Inward Foreign Direct Investment

In recent years,as China has entered a new stage of reform and opening-up policy,OFDI and IFDI are developing rapidly and the relationship between the two are closer.Therefore,it has aroused great attention in academia gradually,and the impact of OFDI on IFDI among them becomes a relatively outstanding issue,which requires us to conduct in-depth study urgently.Based on the classic research literature,this article combs the theoretical and evolutionary trends of OFDI and IFDI systematically,and clarifies the clues of OFDI on the mechanism of IFDI.At the macro level,we explain the conduction mechanism of OFDI to IFDI,construct a theorical framework for studying the impact between the two and enrich IDP theory.Combined with the current development of China's OFDI and IFDI,including the scale of investment,location distribution,industry and other aspects,to find the empirical relationship between the two.Used the cross-country panel data of China and other 32 countries from 2003 to 2014,this article builds empirical model to find the impact of IFDI on IFDI.The regression results show that there is a positive significant correlation between China's OFDI and IFDI,and this proves the expectation of hypothesis.However,there is a difference between China and developed countries,and China and developing countries in the regression results.There are some differences between China and other countries with different levels of economic development too.OFDI has a different way and has a different degree to influence the IFDI.Finally,based on the needs of China's macroeconomic development,this article aims to guide China's OFDI and IFDI have a benign and coordinate development from the aspects of perfecting the policy system,strengthening the supervision and strengthening of security,laying out the strategic development concept of globalization and improving international competitiveness.With a view to provide the direction of policy recommendations in order to promote new ideas of China's economic development and transformation.