Research On China's Surrounding Land Countries' Investment Facilitation And Its Impact On Chinese Direct Investment

Since China put forward the strategy of "going out" in 2000,China's OFDI has been growing rapidly.The great plan of the “One Belt and One Road” proposed by the General Secretary Xi Jinping in 2013 provided a good platform for cooperation between China and countries along the route,and also provided a rare opportunity for China to invest directly in countries along the route.In the five years since the implementation of the “Belt and Road Initiative”,China's investment cooperation with countries along the route has achieved remarkable results.From 2014 to 2017,China's direct investment in the countries along the route reached US$64.64 billion,with an average annual growth rate of 6.9%.It has improved the investment environment in China and countries along the route.At present,China actively promotes the implementation of the “Belt and Road” and points out that it is necessary to speed up the process of investment facilitation and promote China's direct investment cooperation with countries along the route.China's surrounding land-based countries are the most important part of the countries along the “One Belt and One Road” and a key area to promote the “One Belt and One Road” construction,with unique geographical advantages and rich natural resources.To promote China's direct investment in countries along the route,we should first promote China's direct investment in the surrounding land countries.The surrounding land-based countries and China are highly complementary in economics.It is an important region to encourage cross-border innovation and regional cooperation and development choices for Chinese enterprises.The level of investment facilitation in the surrounding land countries is an important factor affecting China's direct investment.In recent years,the economy of the surrounding land-based countries has continued to develop,and the space for economic and trade cooperation between China and the surrounding land-based countries has become larger and larger.In the process of promoting the construction of the “Belt and Road”,China's direct investment in surrounding land countries has also gradually expanded.However,since most of the land-based countries in China are developing countries,the economic level of each country is quite different.Most countries have problems such as poor infrastructure,unsound investment-related legal systems,and unstable policies,which make Chinese companies conduct these countries.Or direct investment in the region faces more difficulties and obstacles.Therefore,in order to better promote China's direct investment in surrounding land countries,this paper will cut into the investment facilitation perspective and measure the level of investment facilitation between China and surrounding land countries.On this basis,empirical analysis of the impact of investment facilitation level and the four aspects of investment facilitation on China's direct investment in surrounding land countries provides a reference for China's direct investment in surrounding land countries.This paper expounds the concept of investment facilitation and the related theoretical basis,from two aspects of the longitudinal and transverse to the surrounding land country direct investment to China present situation has carried on the comparative analysis.On this basis,Zhang Yabin(2016)was used to measure the investment facilitation level of China and neighboring land countries by building an investment facilitation evaluation index system to measure the investment facilitation level of countries along the "One Belt And One Road".The results show that China's level of investment facilitation is higher than that of the neighboring land countries,while that of the neighboring land countries is generally lo wer.Among them,the surrounding land in the country,the highest level of investment facilitation for India,facilitation in Kazakhstan in central Asia,the highest level of the lowest investment facilitation is Nepal,shows that land surrounding countries in the aspect of perfecting investment facilitation there is still a large room to improve.Use gravity model investment facilitation of the empirical testing of its impact on the surrounding land country direct investment,it is concluded that the surro unding land national investment facilitation in China for its direct investment has obvious promoting effect,further will affect all aspects of investment facilitation index,introducing the model,the empirical analysis of infrastructure quality,efficiency of institutional environment,financial services,and business investment environment for China's impact on the surrounding land country direct investment scale.Based on the empirical conclusions,the paper puts forward countermeasures and Suggestions to improve the investment facilitation level of China and neighboring land countries from the aspects of strengthening infrastructure construction,promoting the construction of investment facilitation organizations and cooperation platforms,improving financial institutions and legal system.