earticle

영어

In recent years, as the largest developing country and G2, China’s OFDI scale has been expanding, and its flow pattern and characteristics have also become an important aspect of academic research. Based on this, this paper uses panel data of 7 ‘Belt and Road’ Southeast Asian countries from 2003 to 2017 and introduces structural indicators of host countries to analyze the impact of Industrial upgrade of host countries on the flow direction of China’s OFDI. As a Result, we find that China’s OFDI has the preference of “low value-added industry”, “low GDP per capita” and “high total factor productivity”. The acceleration of industrial upgrading in the host country will lead to the decrease of China’s direct investment onto the country in the medium and long term, and make China’s OFDI flow to countries with a worse industrial structure.