The Research On The Relationship Between OFDI Of China Along The “Belt And Road” And China’s Industrial Upgrading

The report of the 19 th National Congress of the Communist Party of China mentioned that it is necessary to focus on the construction of the “Belt and Road”,combine " bringing in" and "going global" strategies and adhere to the principle of mutual cooperation,joint construction and sharing.Strengthen innovation,do a good job of opening up to the outside world,promote cooperation,mutual benefit,and form an open pattern of internal and external linkages between the East and the West.The Belt and Road initiative is a development strategy put forward by China in the face of the new economic normal,political and diplomatic changes,and the new situation of national economic development.The purpose is to promote domestic reform and opening up as well as promoting the common development of countries along the “Belt and Road”.Firstly,based on the previous research on industrial upgrading theory,this paper theoretically analyzed the impact mechanism of China’s OFDI on the relationship between the countries along the “Belt and Road” and the upgrading of China’s industrial structure.Secondly,it analyzed the development of China’s industrial structure and the status quo of foreign direct investment and the investment situation of the countries along the “Belt and Road”.Finally,this paper constructed the indicators of industrial structure and industrial structure rationalization,and standardizes the structure in Chennai.The model was modified,and the panel data of 31 provinces,municipalities and autonomous regions in China from 2003 to 2017 were used to verify the relationship between China’s OFDI along the “Belt and Road” and the upgrading of domestic industrial structure,and the three regions of East,Central and West were compared.Finally,it is concluded that China has a positive effect on the domestic industrial structure of the OFDI along the “Belt and Road”,but the current role is not obvious;it has a negative effect on the rationalization of China’s industrial structure.At the same time,China’s OFDI along the “Belt and Road” countries have had different effects on the upgrading of industrial structure in the eastern,central and western regions of China.