The Research Of The Development Phase And Factors Of China's Agricultural Outward Foreign Direct Investment

Driven by the integration of global economy and trade,the flow and stock of China's OFDI have been increasing year by year,especially in agricultural OFDI.It has entered a period of rapid growth.Under the guidance of the "The Belt And Road" development initiative proposed by the central government,the agricultural sector has also accelerated the implementation of the "going global" strategy.Actively carry out top-level design and policy support of foreign direct investment in agriculture,promote foreign investment and cooperation in agriculture,and become one of the important driving forces to accelerate China's agricultural transformation and upgrading and agricultural modernization development.In recent years,the foreign direct investment has the high speed of development of China.With the help of international high-quality agricultural resources,foreign direct investment in agriculture focusing on "The Belt And Road" key countries and agricultural developed countries strengthen the competitive advantages of China's agricultural enterprises in the international agricultural value chain in cost and price,and gradually improve the layout of relevant enterprises in the international industrial chain.By the end of 2016,China had carried out agricultural outward direct investment in more than 100 countries around the world,which has a cumulative stock of 180 billion yuan,gradually the active areas of investment activities gathered in "The Belt And Road" related countries with a total of 65.47 billion yuan of outward investment.At present,with the rapid development of foreign direct investment in agriculture,foreign direct investment in agriculture is also facing new situations and challenges along with the dependence on food imports and the deepening of national food security concerns.This article aims to research from the certain phase of the development of China's agricultural foreign direct investment and its influencing factors from the angle of the agricultural foreign direct investment.The paper mainly uses normative analysis and empirical analysis method.It provides some theoretical reference for the analysis of China's agricultural OFDI.At the same time,It further promotes China's agricultural foreign direct investment scale growth and enhances China's agricultural international competitiveness has important practical significance.This paper determines the current China's foreign direct investment agriculture investment development phase and analyzes China's agricultural experience of the foreign direct investment under the different development phases of agricultural foreign direct investment influence factors and their differences,which bases on the theory of foreign direct investment and investment development cycle theory(IDP)by using data on China's foreign direct investment in agriculture from 2003 to 2017.On the basis of the theory of foreign direct investment and investment development cycle theory(IDP),the paper determines the investment phase combined with the feature of current China's agricultural foreign investment.At the same time,this paper analyzes China's agricultural experience of the foreign direct investment under the different development phases of factors and their differences using principal component analysis from the agricultural economy development level,agricultural level national policy support,agricultural technology,agricultural trade openness,agricultural labor costs,exchange rate.The results show(1)China's agricultural OFDI is in the fourth phase of investment development,but on the whole the scale of China's agricultural OFDI is small,and the per capita added value of Animal husbandry and fishery is low,so there is still a huge space for the development of agricultural OFDI and the utilization of foreign investment in agriculture.(2)At present,the development phase of foreign direct investment in agriculture is lower than that of the previous phase,the agricultural economy development level,agricultural national policy support,agricultural technical level will markedly enhance its positive role in promoting,and the cost of agricultural labor force growth and agriculture from negative to positive,the relationship between the foreign direct investment cost driven increase investment dynamics.Finally,this paper puts forward suggestions from the macro and micro levels.First,for the government,it should improve the investment policy and legal system,strengthen the government financial support for agriculture,improve trade and investment information channels,and improve the efficiency of foreign investment;In view of this,we should attach importance to agricultural technological innovation,rationally set up agricultural foreign direct investment strategies,and strengthen the strength of corporate agricultural direct foreign investment.