Land Acquisition Risks Of China's Outward Infrastructure Investment

Since the "The Belt and Road" initiatives,China has made infrastructure construction a priority development target and an important economic task,and is committed to the interconnection of infrastructure.China is adjacent to ASEAN and has a long history of economic and cultural exchanges.China's "The Belt and Road"initiatives has pushed China and ASEAN into a new era of all-round cooperation.The regional network trend of economic organizations has become increasingly prominent,and at the same time,higher requirements have been placed on the connectivity of infrastructure.Under the background of China's "The Belt and Road" and Indonesia's"Global Ocean Pivot" strategy,the two countries will carry out more investment cooperation on infrastructure projects.During the high-level meeting between the two countries,Vietnam also stressed the to link its "Two Corridors One Circle" plan with China's "The Belt and Road" initiative.The infrastructure cooperation between China and Vietnam is mainly concentrated on the construction of electric power,transportation and industrial parks,and also have great potential for cooperation in the fields of telecommunications,water conservancy,logistics,warehousing,etc.Based on the analysis of land system,local autonomy and cognition in the investment environment,this paper discusses the impact of these three layers on the land acquisition of Chinese enterprises.First,Indonesia is privately owned by the land,and the land of Vietnam is owned by the state.However,there are great difficulties for Chinese companies to use land in both countries.The issue of land ownership in Indonesia has not been effectively dealt with.The phenomenon of "multi-ownership in one place",is very common and there is no dispute resolution mechanism.The land acquisition in Vietnam lacks a reasonable and effective compensation mechanism,and the land legal system is not perfect.These problems have increased the recognition of land.The difficulties of the owners have also increased the cost of land acquisition for Chinese companies.At the level of local autonomy,because the supporting policies have not been followed up in time,the long-term mechanism for supervising accountability is not perfect.The local autonomy reform in Indonesia failed to achieve the expected effect of activating the local economy,which in turn led to institutional redundancy,administrative inefficiency,and fiscal distribution.Problems such as uneven distribution and poor communication in the central area make it difficult for foreign-invested enterprises to obtain effective cooperation with local governments.At the public opinion and perception level,Indonesia and Vietnam have very limited awareness of the "Belt and Road Initiative",and for the groups that are known,there are also polarizations within different interest groups.The "China threat theory and "neo-colonialism" still have a certain audience.This unfavorable public opinion environment has made China's infrastructure projects lack of public opinion base,which has greatly hindered land acquisition.By exploring the reasons why China's infrastructure investment in Indonesia and Vietnam is facing serious land acquisition risks,and analyzing some typical cases,this paper finally proposes to provide suggestions for Chinese enterprises to carry out land acquisition for external infrastructure projects,that is to strengthen communication with the central and local governments,gaining land rights actually,depoliticizing business activities,respecting local cultural practices and actively fulfilling social responsibilities.