Analysis Of Influencing Factors Of Chinese Energy Enterprises’Choice Of Investment Locations In"One Belt,One Road"Countries

At present and in the future,my country’s development is still in a period of important strategic opportunities,but my country’s energy resources are scarce,and it is necessary to continuously increase foreign investment to meet the continuously growing domestic energy demand.The countries along the "Belt and Road" are rich in energy resources,and the direct investment of energy companies in the countries along the "Belt and Road" has become an important part of my country’s "Belt and Road" construction.Under the new situation,the global energy supply and demand map has undergone profound changes,and the international economic and political structure is complex and changeable.The analysis of the factors influencing the location selection of Chinese energy companies’ direct investment in countries along the “ Belt and Road ” is an important reality for reducing the risk of energy investment and ensuring supply security.significance.Based on the analysis of the current situation of direct investment by energy companies in the countries along the “Belt and Road”,combined with the relevant theories on the location selection of foreign direct investment,this paper conducts a theoretical analysis of the factors affecting the location selection of direct investment by energy companies in the countries along the “Belt and Road”.Using the gravity model,a panel Probit regression model is constructed to empirically analyze the influencing factors of energy companies’ direct investment location selection in countries along the "Belt and Road".The energy endowment,institutional distance,national risk,market size and exchange rate level of the countries along the "Belt and Road" will affect the location selection of my country’s energy enterprises for foreign direct investment.Regarding the empirical results of explanatory variables,the host country’s energy endowment is positively correlated with the location selection of my country’s energy companies’ OFDI;the risk of internal conflict and religious tension in the host country is negatively correlated with the location choice of my country’s energy companies’ OFDI;the host country and China’s corruption control system Distance and Accountability Mechanism Institutional distance is negatively correlated with the location selection of my country’s energy companies’ outward direct investment.Regarding the empirical results of the control variables,the market size of the host country is positively correlated with the location choice of my country’s energy companies’ OFDI;the exchange rate level of the host country is positively correlated with the location choice of my country’s energy companies’ OFDI.According to the research conclusions of this paper,relevant suggestions are put forward.my country should strengthen bilateral relations with countries rich in energy resources along the “Belt and Road ”,reduce the resistance of the host country government and society to my country ’ s energy companies;increase the understanding of the systems and mechanisms of countries along the “ Belt and Road”,and improve the profitability of energy companies’ investment;strengthen Assess the risks of countries along the “Belt and Road” and increase investment in host countries with lower risks.