Study On The Impact Of China’s OFDI To "Belt And Road" Countries On Export Structure

While China’s foreign direct investment shows a rapid growth trend,the world economic recovery is still slow,trade protectionism is on the rise,and trade frictions are gradually increasing.China’s trade structure,especially the optimization and upgrading of export structure,has already been on a more important position.Under this grim situation,China has proposed the Belt and Road Initiative.Since then,China’s direct investment in countries along the Belt and Road has grown rapidly,and trade cooperation with countries along the route has been deepening.The trade growth rate of countries along the line is higher than China’s overall trade growth rate,promoting China’s trade and accelerating the recovery of economy,so it is of great practical significance to study China’s direct investment in the countries along the"Belt and Road" to the export structure.In order to study the impact of China’s direct irnvestment in the countries along the "Belt and Road",on China’s export structure,this paper first sorts the relevant literature on the impact of OFDI on the export structure,and then reviews the literature on this basis.This paper uses Lall’s technology-intensive classification method to classify 237 kinds of commodities under SITC three-digit number,in order to measure China’s export structure to countries along the line,and based on this.The typical facts about China’s direct investment and export structure to countries along the line are described,and the results show that the country’s export structure can be optimized for OFDI along the route.At the same time,based on the differences in investment flows to countries along the route,this paper analyzes the mechanism of the impact of direct investment on export structure in the countries along the line from the perspective of forward gradient OFDI and inverse gradient OFDI.Then,from the perspective of different OFDI flows this paper divides the relevant data of investment and export in 46 countries along the line from 2005 to 2017,and carries out the empirical test of the motivational discriminant test and the OFDI impact on the export structure test.The empirical results show that there are different motivations of China’different OFDI flows in countries along the "Belt and Road",but they can all promote the optimization and upgrading of China’s export structure.Finally,this paper summarizes the conclusions,and puts forward specific policy recommendations for China’s investment and trade in the "Belt and Road" region.