The Study On The Impact Of Chinese Enterprises' Foreign Direct Investment Location Layout On Performance

In the context of the rapid development of the world economy,the world status of emerging economies has increased significantly.China as the largest emerging economy in the world and the largest foreign investor in emerging economies,its foreign direct investment has undoubtedly caused the world's concern.In recent years,China's foreign direct investment has expanded rapidly.Since the 18 th National Congress of the Communist Party of China,with the full implementation of the "One Belt,One Road" strategy,foreign direct investment has opened up a new situation.According to UNCTAD statistics,China's foreign direct investment reached US$124.6 billion in 2017,46 times of that in 2002,with an average annual growth rate of 29.1%,making it the third largest foreign investor in the world.At the end of 2017,China's foreign direct investment stock was 1.48 trillion US dollars,and the total assets of overseas enterprises exceeded 5 trillion US dollars.The form of foreign direct investment has been gradually optimized,from a single green-field investment to mergers,acquisitions,and shareholdings.Corporate cross-border mergers and acquisitions have become increasingly active.In order to maximize the market and the interests,the enterprise's positional layout problem directly determines the success or failure of the company's foreign direct investment.Therefore,the location layout and performance of Chinese enterprises are important topics in academic research at home and abroad in recent years.The research helps guide Chinese enterprises to implement the “going out” strategy.Based on the theory of foreign direct investment and relevant literature at home and abroad,the location distribution characteristics of Chinese corporations' foreign direct investment is analyzed.The data of Chinese corporations is used to conduct empirical research,and two conclusions are found.(1)Chinese enterprises' investment profits in developing countries are earlier than those in developed countries,and the return on investment in developing countries is higher than the return on investment in developed countries;(2)Chinese enterprises' foreign direct investment is concentrated in a few regions and is more conducive to improving corporate performance.