| After more than 40 years of reform and opening up,China’s economic development has entered a new normal,from a stage of high-speed growth to a stage of medium-high speed development.The 19 th National Congress of the Communist Party of China put forward the requirement of achieving high-quality economic development,and the 20 th National Congress of the Communist Party of China put forward the task of promoting Chinese-style modernization.The core to achieve high-quality development is to promote the modernization and specialization of China’s three industrial structures.Therefore,promoting a new round of industrial structure upgrading in China is not only the necessary for high-quality development,but also the only way to establish a modern industrial system.There are many ways for a country to upgrade its industrial structure,and OFDI is one of them.China’s OFDI has developed rapidly and has a good momentum.Especially after 2000,China adopted the strategy of "gradual" deregulation,and its foreign direct investment has been rising all the way,gradually becoming the largest capital exporter.Among them,the import effect is one of them,and China’s import trade has a good momentum of development,especially after entering the WTO,the growth rate of China’s import trade once exceeded that of global import trade.Therefore,it is of great practical significance to explore the relationship between the mediating effect of import trade and the upgrading of industrial structure of China’s OFDI.Based on this,this paper selects China’s data from 1990 to 2020 for full-sample empirical research to test whether the relationship between OFDI and industrial structure upgrading is significant,and whether the mediating effect of import trade exists.Sub-sample analysis is also conducted to explore the heterogeneity of the mediating effect of OFDI’s import trade on the upgrading of industrial structure based on different host countries and industry categories.The empirical results show that the relationship between OFDI and industrial structure upgrading is significant,and there is a significant positive correlation between the two,and the mediating effect of import trade exists,indicating that China’s OFDI can promote the upgrading of industrial structure,and the mediating effect of OFDI on import trade is significant.This paper summarizes the conclusions and puts forward relevant policy suggestions,so as to help China achieve the requirements of high-quality development and accelerate the construction of a modern industrial system. |
