Outward Foreign Direct Investment And The Improvement Of China's Economic Growth Quality

With regard to the change of the new pattern of international trade in recent years and the new requirements of comprehensive deepening reform in the country,China is faced with the requirements of adjusting and optimizing the development goal and operation mechanism of the open economy,and constructing the "quality" economy has become the focus of development.As an important role in the international investment arena,China's outward foreign direct investment has gone through nothing,and has experienced four stages of gestation,exploration,steady advancement and rational adjustment.Moreover,China's economic growth mode is undergoing a shift from a scale of growth to a quality of growth orientation.What role will OFDI,as a major contributor to economic growth,play in this process? How can China's foreign direct investment policy work to ensure the healthy development of economic growth?Focusing on this range of issues,this paper takes the micro perspective of industrial enterprises as the entrance,studies the relationship between outward foreign direct investment(OFDI)and economic growth quality at the current economic quality transition,and explores the foreign strategic policy of steadily promoting economic quality transformation.This paper reviews the characteristics of OFDI,the connotation of economic growth quality,and the role of OFDI in economic growth,and reviews the relevant literature on OFDI and economic growth quality.On the basis of this,the theoretical basis of this paper is expounded,and the direct effect of the two is taken into account.Based on the heterogeneity of foreign investment enterprises,the path mechanism is analyzed.After summarizing and analyzing the status quo of OFDI and economic growth quality,this paper conducts an in-depth study on three aspects: total factor productivity,intermediate input-output rate and value-added rate based on three aspects of economic quality evaluation.Finally,the OFDI impact mechanism was tested based on the variables of the five absorptive capacities.The empirical results show that: first,whether or not industrial enterprises carry out outward foreign investment will have a significant impact on the quality of economic growth;second,at the level of enterprise heterogeneity: Multinational enterprises on the high economic level of the destination country,the establishment of a single branch,as well as overseas trade and sales of foreign investment enterprisesfrom the role of economic growth quality is more prominent;Finally,from the perspectives of total factor productivity,intermediate input-output rate and value-added rate,the OFDI impact mechanism based on the absorption capacity variable can be found that human capital,R&D intensity and technology gap do play a mediating role.There is an intermediary mechanism in the process of the impact of OFDI on the quality of economic growth.On the basis of summarizing the above research conclusions,this paper makes policy recommendations from these aspects:first,adapt to the new open pattern,expand cooperation space;second,enhance the international competitive advantage of multinational enterprises;third,improve the training mechanism,To shape innovative talents;fourth,to prevent blind investment and enhance cautious awareness;fifth,optimize the structure of foreign investment and protect overseas investment.