Study On The Factors Affecting The Location Choice Of China's Direct Investment In ASEAN Under The Background Of The Belt And Road Initiative

Today's world economic recovery is weak.Statistics show that the average annual growth rate of the global economy during the four years from 2012 to 2016 was 2.6%.The IMF has also repeatedly lowered its forecast for the growth rate of the world economy.In2013,the Chinese government proposed the "One Belt,One Road" initiative.The "One Belt,One Road" initiative is a "Chinese prescription" for the world and China in the face of the complicated domestic and international environment.From the geographical layout of the"Belt and Road Initiative" initiative,ASEAN occupies an important geographical position.The ASEAN countries involve both "one area" and "one road" and are the key strategic areas of the "Belt and Road".With the continuous advancement of the "Belt and Road Initiative",China's foreign direct investment in ASEAN has experienced rapid growth in terms of both flow and stock.Therefore,it is important to study the factors affecting the location choice of China's direct investment in ASEAN under the "Belt and Road" initiative.significance.Through combing the literature,it is found that most of the current research on China-ASEAN direct investment is based on a certain ASEAN country,and does not consider the formal impact of the "Belt and Road Initiative" initiative.This article considers the developing countries in ASEAN as a whole,because these countries have great similarities in terms of economic level and industrial structure.After studying the "One Belt,One Road" initiative,the characteristics of China's direct investment in ASEAN and Variety.First,the OLS model is established through the panel data of ASEAN countries to analyze the influencing factors of China's direct investment in ASEAN and the impact of the "Belt and Road Initiative" on China's direct investment in ASEAN.The empirical analysis shows that the "One Belt,One Road" initiative promotes China's direct investment in ASEAN and China's direct investment in ASEAN is affected by various factors such as natural resources,market size and labor price.Furthermore,in order to verify whether the factors affecting China's direct investment in ASEAN under the "Belt and Road" are applicable to countries along the route,the panel data will be selected from the countries along the route for empirical analysis.The results show that China is a country along the "Beltand Road".The influencing factors are not exactly the same as those of ASEAN.This is because ASEAN countries have formed their own unique location advantages in terms of natural resources,human resources,foreign investment policies and economic ties with China.Finally,combined with the research conclusions of this paper,the following policy recommendations are proposed from the macro and micro dimensions: China should increase the positive propaganda of the "Belt and Road";strengthen the high-level dialogue with ASEAN leaders;and establish and improve the investment environment of ASEAN countries.Database,providing consulting and guiding investment services for enterprises;planning the industrial layout of direct investment in different countries of ASEAN,reflecting national differences;paying attention to preventing ASEAN's national risks in the process of direct investment in ASEAN;Chinese enterprises should improve their own Competitiveness.