A Study On The Influence Of The Business Environment Of Countries Along ’the Belt And Road’ On China’s OFDI

Facing the implementation of "the Belt and Road" initiative,the requirement of high-quality economic development and the need for deepening the reform in an all-round way,building a new system of higher-level and open economy and improving the outward foreign investment system are of great significance to China’s outward foreign direct investment(OFDI).At the same time,OFDI is an important way to link up infrastructure and regional exchanges between China and other countries,and a important approach to implement ’The Belt and Road’ initiative.In this context,this research analyzes the influence of the business environment of countries along ’The Belt and Road’ on the outward foreign investment of Chinese enterprises.And then,puts forward relevant countermeasures and suggestions for China’s enterprises to establish an open,cooperative and win-win economic community with the countries along "the Belt and Road".The research contents are as follows:First,this research introduces the related concepts of business environment and the related theories of OFDI,Sorts out the business environment of the countries along ’the Belt and Road’,the influence factors of China’s OFDI location choice and the influence of business environment on OFDI,Second,this research analyzes the current situation of direct investment and business environment of the countries along "the Belt and Road",and analyzes the current situation of China’s developed areas and ethnic regions’ outward foreign investment.Thirdly,according to the indicators of business environment,this paper explores the business environment of countries along "the Belt and Road" on China’s OFDI.Finally,this paper explores the influence of the business environment on outward foreign investment in ethnic regions.The empirical analysis draws the following conclusionsFirst,after the completion of OFDI selection,the business environment can promote the OFDI of China’s enterprises.Second,market-seeking OFDI and strategic-seeking OFDI prefer countries with superior business environment;resource-seeking OFDI prefer countries with relatively backward business environment.Third,the convenience of obtaining construction permit and setting up enterprises has a positive impact on obtaining foreign investment.Fourth,the convenience of obtaining credit facilities has a significant negative impact on Chinese enterprises’ OFDI;the convenience of judicial and bankruptcy liquidation have a positive but not significant impact on Chinese enterprises’ OFDI;the intensity of investor protection has a negative but not significant impact on Chinese enterprises’ OFDI.Fifthly,OFDI enterprises in ethnic areas tend to flow into countries with better business environment in order to avoid risks.All in all,the business environment of the countries along ’the Belt and Road’ is an important factor affecting China’s direct investment in them.We should go after profit and avoid harm in order to promote the effect of our country’s OFDIThe innovation of this paper is that in the aspect of data analysis,by integrating the data of China’s foreign direct investment bulletin and business environment report,and analyzing and comparing the data,we can make a certain contribution to the multi-dimensional comparative analysis of the data.In terms of content,this paper uses panel data random effects model to study the impact of neighboring countries’ business environment on OFDI,and also studies the impact mechanism of business environment on OFDI in ethnic minority areas.Therefore,the breakthrough point and research conclusion of this paper have some innovation compared with the existing research results.