The Impact Of Investment Convenience Levels Of Countries Along "The Belt And The Road" On China’s Foreign Direct Investment

With the introduction and deep implementation of the “One Belt,One Road” initiative,investment and trade between China and the countries along the “Belt and Road” have become increasingly frequent.However,the development level of the countries along the “Belt and Road” is generally low and the international situation is unstable,which makes great risks to China’s direct investment.The impact of traditional tariff and non-tariff barriers on international trade is gradually diminishing,while the issue of investment facilitation is increasingly receiving the attention of all countries and the attention of scholars at home and abroad.This paper analyzes the impact of the national investment facilitation level along the “Belt and Road” on China’s foreign direct investment by combining literature research,comparative research and empirical research and using describe qualitative research and quantitative analysis methods.Firstly,through the literature research,the paper summarizes the overall status,influencing factors and investment risks of China’s foreign direct investment,and has an understanding of investment facilitation level in the countries along the “Belt and Road”.Secondly,using the comparative analysis of descriptions,it sorts out China’s investment in those countries from four dimensions: scale,region distribution,industry distribution and subject distribution.Thirdly,based on the existing database,the factor analysis method is used to construct the measurement index system of the national investment facilitation level,and the investment facilitation level of the countries along the line is compared and analyzed.The research shows: the investment facilitation level in those countries is most affected by financial services,second is the political system,following infrastructure situation,information technology and business environment;in 2013-2017,the investment facilitation level in most countries has improved,however,the overall ranking has not changed significantly;the investment facilitation level in different regions is quite different,and the imbalance is very prominent.Subsequently,the gray correlation analysis method was used to empirically study the impact of investment facilitation level and five single-dimensional levels on China’s foreign direct investment.The research shows: improving the level of investment facilitation in the host country is conducive to promoting China’s foreign direct investment;the five single-dimensional levels have significant differences in the impact of China’s direct investment in countries in different regions;China’s direct investment in Central and Eastern Europe is influenced by the business environment and financial services;Southeast Asia is greatly affected by political systems and information technology;South Asia is greatly affected by infrastructure;West Asia is greatly affected by the political system and the business environment.Finally,based on the above analysis,several proposals are put forward,namely to build an interoperable environment with investment facilitation as the core,promote the infrastructure construction of the host country,and comprehensively understand and objectively analyze the host country before making investment decisions.