Research On The Impact Of Bidirectional FDI On Industrial Carbon Emissions

With China’s efforts to implement the strategy of combining "going out" and "bringing in",the scale of China’s foreign direct investment(IFDI)and foreign direct investment(OFDI)has continued to expand.During the "Thirteenth Five-Year Plan" period,China’s use of foreign capital scale of about 700 billion US dollars,overseas investment flow accumulated 767.33 billion US dollars,both capital injection and outflow have increased significantly,China’s industry is also actively exploring a green transformation and development path under this trend.China’s industry contributes about 70% of carbon emissions,and the injection of foreign capital profoundly affects the development path of China’s industry,which in turn affects China’s industrial carbon emissions.During the "14th Five-Year Plan" period,China has entered a new stage of development and has entered a period of high-quality development,with convenient capital flow,long-term economic improvement,and favorable conditions for building a higher level of open economy.However,the current situation of high industrial carbon emissions in China has brought heavy pressure to social governance and affected the quality of life of the people,and there is a long way to go to achieve the goals of carbon peak in 2030 and carbon neutrality in 2060.Therefore,how to make two-way FDI serve China’s carbon emission reduction task is worth considering,and studying the impact of two-way FDI on China’s industrial carbon emissions is of great significance to whether China can fulfill its carbon emission reduction commitment and realize "both gold and silver,but also green water and green mountains".From 2004 to 2019,this paper selects the industrial carbon emission data of 30 provinces,municipalities directly under the central government and autonomous regions in China(excluding Tibet,Hong Kong,Macao and Taiwan),and selects the degree of openness,economic development status,industrial structure,urbanization rate,etc.as the control variables.The spatial inverse distance weight matrix is selected to establish the benchmark model of this study,and then the global and local spatial correlations of carbon emissions are tested by Moran index,and the appropriate spatial econometric models are selected in SDM,SAR and SEM through a series of tests such as LM and LR to test the impact of two-way FDI on industrial carbon emissions.At the same time,this paper analyzes the heterogeneity of factor density and space of the model,and discusses the impact of two-way FDI on resource,labor and capital-intensive industrial carbon emissions,the impact of two-way FDI on industrial carbon emissions in eastern,central and western China,and the spatial spillover effect of two-way FDI.The results show that OFDI has a restraining effect on industrial carbon emissions,while FDI has a significant inhibitory effect on industrial carbon emissions,but FDI has a positive spatial spillover effect on industrial carbon emissions in surrounding regions,and the interaction between the two significantly increases the level of industrial carbon emissions in the region,but has no significant impact on surrounding areas,and the industrial impact of two-way FDI on different resource intensities and regions shows significant heterogeneity.Therefore,this paper suggests that we should persist in introducing high-quality foreign-funded enterprises and continue to give full play to the spillover effect of foreign-funded technology.Increase the share of technology-oriented OFDI;Establish an information-sharing mechanism to accelerate the diffusion of low-carbon technologies in the country;Policy optimization and upgrading,precise service control of capital flow;The government provides precise services to different types of industries in different regions,promotes the acquisition and diffusion of low-carbon technologies,and optimizes the industrial structure.