| Europe is a key area of focus for Chinese companies’ outbound direct investment,and an important destination for China’s OFDI to seek advanced technologies and wellknown brands.However,various regulations,such as the Foreign Investment Review Act,have been introduced in Europe in recent years.As can be seen,the scrutiny of foreign enterprises in Europe has become stricter,and Chinese enterprises’ investment in Europe has encountered frequent challenges and restrictions.In addition,Europe,as the second largest trading partner of China,has very close trade with China.The wide circulation of Chinese goods in Europe has brought more opportunities for European consumers to know more about Chinese enterprises,and created a favorable atmosphere for Chinese enterprises to further enter the European region for direct investment activities.At the same time,China pays more attention to the improvement of export quality under the new development pattern.Based on this,it is of great research significance to explore whether China’s high-quality export to Europe will become a breakthrough for deepening investment and cooperation between China and Europe.Will the improvement in the quality of Chinese exports to Europe create opportunities for Chinese enterprises to further expand their investment in Europe? In order to answer the above questions,this paper takes European countries as research objects,constructs a spatial econometric model to explore the impact of China’s export quality in this region on OFDI,and fully considers the moderating roles of various investment motivations,in order to provide references for further optimizing China’s investment in Europe and promoting the high-quality development of China-Eu bilateral economic and trade cooperation.First of all,this paper summarizes the development status of China and Europe and the existing literature research,which lays the foundation for the mechanism proposed in this paper.Secondly,based on the panel data of 42 countries in China and Europe from 2011 to 2020,this paper defines the quality of Chinese goods exported to Europe from the two dimensions of export technology and export scale,and constructs the static and dynamic spatial Dubin model to study the longterm and short-term direct influence and spatial spillover effect of China’s export quality on China’s direct investment in Europe.And through the heterogeneity analysis,three kinds of motivations of Chinese investment in Europe are deeply verified.Finally,based on the empirical results,this paper puts forward targeted policy recommendations.The empirical results show that the quality of China’s export to Europe significantly promotes the investment in Europe,and there is a positive spillover effect.Among them,the positive effect of technology export can last for a long time,but the positive effect of export scale is not sustainable.In addition,there are three kinds of motivations for Chinese investment in Europe.Among them,the technology seeking motivation weakens the positive influence of China’s export quality on investment in Europe,while the market seeking motivation is contrary to the uncertain influence of resource seeking motivation on export technology and export scale.Therefore,based on this,this paper proposes: to effectively promote the investment in Europe with higher export quality,and take more measures to improve the technical level and scale of China to Europe;We will eliminate prejudice and misunderstanding through all-round diplomacy,promote China’s image in a reasonable way,and strengthen friendly diplomatic dialogue with European countries.We will actively cultivate the core competitiveness of Chinese enterprises and strengthen their ability to resist risks. |
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