Chinas direct foreign investment in strategic choice6863.docx

Chinas direct foreign investment in strategic choice6863.docx

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Chinasdirectforeigninvestmentinstrategicchoice6863

China'sdirectforeigninvestmentinstrategicchoice

      AbstractThedevelopmentofeconomicglobalization,Chineseenterprisestotheworldhasbroughtmanyopportunitiesandchallenges,developforeigndirectinvestmentinTaiwan'seffortstodealwithinternationalcompetition,animportantstep.ThreedecadesofChina'sreformandopeninguphavecreatedaworld-acclaimedeconomicmiracle,whileforeigndirectinvestmenthasalsomaderapiddevelopment,butlargecomparedtotheintroductionofFDI,foreigndirectinvestmentisstillrelativelylowlevelofdevelopment.Thispaperattemptstomakeachoice,includingindustry,locationselection,subjectselectionandstrategicchoiceofinvestmentoptionsforforeigndirectinvestmentinChina'sdevelopmentandputforwardfeasiblesuggestions.

      Keywordsdirectforeigninvestmentinvestmentstrategy

      First,thestatusquoofChina'sforeigndirectinvestmentin

      Asoftheendof2007,China'saccumulatedforeigndirectinvestmenttotalof1,179.1billionU.S.dollars.Relativetothedevelopingcountries,becauseofChina'sforeigndirectinvestment,theaveragegrowthrateexceededthatofmanydevelopingcountries,thestockatarelativelyhighlevel.ForeigninvestmentwiththedevelopedcountriescomparedtoChina'sforeigninvestmentflowsatalowlevelofforeigndirectinvestmentinChinainthestrengthisstillrelativelyweak,thenumberofforeign-investedenterprisesineachoftheamountofoverseasinvestmentandthecumulativetotalamountofforeigndirectinvestmentarealsorelativelysmall.Moreover,themajorityofChina'soverseasinvestmentforsmallandmediumprojects.Inthe"Fortune"magazine's2008Global500,only35Chinesecompanies,andmostlyinthelowerranks.

      Second,China'sforeigndirectinvestmentintheIndustryChoiceforStrategicResearch

      1.Resource-basedindustriesasabreakthroughdevelopment

      Chinaisnowstillintheinitialstageofforeigndirectinvestment,andthemostdevelopedcountrieshaveexperiencedfromtheresourcedevelopmentindustry-Manufacturing-thethirdindustry-baseddevelopmentprocess.Atthesametime,duetotheinternationalinvestmentenvironmentisimproving,resourceextractiveindustriesisextremelyfavorableenvironmentforforeigninvestment.Forsomeindustriessuchasmining,forestry,oilexplorationindustry,theworld'soversupplyofresourcesinsomecountries,Chinesecompaniesshouldbeadaptedtolocalconditionstoinvestabroad,mining,processingandtransportationbacktotheresourcesabroadtomeetdomesticdemand.

      2.Amanufacturingandtradingalternativeforoverseasinvestmentfocus

      Theadvantagesofthepresentstageofourmodelintermsofforeigndirectinvestment,theinvestmentfocusshouldbeonexcesscapacity,withtheapplicationofmaturetechnologiesorsmall-scaleproductiontechnologymanufacturing.Comparedwithsomedevelopingcountries,Chinainthetextile,food,metallurgical,chemical,pharmaceuticalandelectronicsindustries,formedacertaincomparativeadvantage.Inaddition,Chinaalsohasalargenumberofsophisticatedapplicationoftechnologies,suchashouseholdappliances,electronics,transportequipment,lightmanufacturingtechnology,small-scaleproductiontechnologiesthatarereadilyacceptabletothem.

      3.Thirdindustryandfocusonhigh-techindustrydevelopmentdirectionforthefuture

      Accordingtoforeigndirectinvestmentintheindustryshouldbechosenconsistentwiththedomesticindustrialstructureandhigh-classstandards,China'sforeigndirectinvestmentshouldfocusontechnology-intensiveindustries.Throughtheacquisitionofalocalhigh-techenterprisesorhigh-techenterpriseswithlocalownershipjointventureandcooperation,youcandirectaccesstogeneraltechnicaltradingandtheintroductionofforeignadvancedtechnologythatcannotbeobtained,andthentransmittedbacktothedomesticuseoftechnologytospeeduptheprocessofupgradingofdomesticindustrialstructure.Forexample.LenovoGroupacquiredIBM'sPCdivision.

      Third,China'sforeigndirectinvestmentlocationchoiceofstrategy

      1.TodevelopingcountriesasforeigndirectinvestmentofChineseenterpriseslocationchoiceofthemain

      ChinaislocatedinAsia,thegoodrelationsofcooperation,aswellasasimilarlevelofeconomicdevelopment,industrialstructure,demandpreferencesmakesthebarrierstoentryforsmall;China'stextile,clothing,householdappliances,machineryandothertechnologiesmatureandhighlycompetitiveindustry,hasstrongmarginalcomparativeadvantage;rapideconomicdevelopmentindevelopingcountriesandregions,themarketcapacity,moreinvestmentopportunities;alsocantakeadvantageofthehostcountrytoenjoypreferentialtermsoftrade,theproductsaresoldtoathirdcountry.

      2.Selectiveincreaseinvestmentinthedevelopedcountries

      TheUnitedStates,Canada,WesternEurope,AustraliaandJapanandotherdevelopedcountriesistheworld'smostattractivetotransnationalinvestorsinthearea.Becauseofitsexcellentinvestmentenvironment:

ahighlevelofeconomicdevelopment,scienceandtechnologydevelopedinfrastructureandimproving,andsocialstability,investmentlawsandregulations,soundanddevelopedfinancialmarkets,richinallkindsoftalents,isanidealplaceforforeigndirectinvestment.Foreigndirectinvestmentindevelopedcountriescanobtainadvancedtechnologyandmanagementexperiencetomasterthehigh-techfeedbackfrombackhome.

      3.ActivelycarefuldevelopmentoftheCISandEasternEuropeancountry'sinvestment

      Thesecountriesareintheeconomicreformprocess,theurgentneedforforeigndirectinvestmentthere.Thesecountrieshavedevelopedindustrialbaseafterthepubliceducationandworkerskilllevels,withrichnaturalresourcesandvastmarket,butitsexportsarelesscapableoflackofcompetitivenessintheinternationalmarket.TheinexpensiveChineseproductsthantheEuropeanandAmericanproductsmoresuitedtotheregion'smarketneeds.Repostedelsewhereinthepaperforfreedownloadhttp:

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      Fourth,foreigndirectinvestmentstrategyofthemainselection

      1.Focusonthedevelopmentofdominantenterpriseswithamonopolyofforeigndirectinvestment

      Itsdirecteffectistocreateoperationalinternalmarketoftheintermediateproductsandavoidtheriskoftheexternalmarkettransactions;tomakethetransferoffunds,taxeshaveareasonableremovalfromsmoothchannels;whilereducingthenegotiations,inquiryandothertransactioncosts;guaranteeThecompany'stechnologyandskillsarenotleakedtosustainthebenefit.Resource-seekinginvestmentintheparentcompanycanalsoensureastablesourceofresourcesrequired.

      2.Todevelopsmallandmediumenterpriseswiththeoperatingcharacteristicsofforeigndirectinvestment

      Atpresentthemajorityoftheworld'smultinationalcorporationsbutaremainlysmallandmediumenterprises,mainlysmallandmediumenterprisesisuniquebecauseofitsownproductionandmanagementsuperiority.ManysmallandmediumenterprisesinChinawithaforeigndirectinvestmentconditions:

lowlaborcosts,industrialproductsandrawmaterials,elementsofthetransferpricesarealsorelativelylow;propertyrightsformedthebasisofclearconciseandefficientorganizationalstructureoftheadvantage;haveadaptedtolocalmarkettheneedsofpracticaltechnology.

      3.Thepromotionofforeigndirectinvestmentinenterpriseclusters

      ?

AccordingtoMichaelPorter'stheoryofthecompetitivenessofacountry'ssuccesscomesfromthecriss-crossofindustrialclusters.Thereisalargeclusterintheenterprise,suchasNingbo,clothing,BeijingZhongguancunelectronicsindustries.Makefulluseof"industrialclusters"tocarryoutthecompetitiveadvantageofforeigndirectinvestment,themainbodyofChina'sforeigndirectinvestment,animportantstrategicchoice.Fromtheperspectiveofthegrowthofmultinationalcorporations,

      Multinationalenterpriseclustercanbeusedasaprocessofgrowthanddevelopmentofanalternativeinternalizationadvantages.

      Fifth,China'sforeigndirectinvestment,thechoiceofstrategy

      1.Accordingtothepurposeofinvestmentbymultinationalstodevelopthechoiceofinvestmentstrategyfor

      ForeigndirectinvestmentinChineseenterprisesmainpurposeistoseeknaturalresourcesandthelearningofforeignadvancedtechnologyandmanagementexperience.Natural-seekingforeigndirectinvestmententerprisesshouldbebasedjointventurewillhelpbreakthecontrolfortheexploitationofnaturalresourcesandtheestablishmentoflong-termcooperativerelationships;learningofforeigndirectinvestmententerprisesshouldbebasedonmergersandacquisitions,jointventuresdominated.Thismodeofentryfordirectaccesstoadvancedtechnologyandmanagementexperience,theuseofhumanresourcesofhostcountriesdeveloptheirowntalent,masteryofadvancedtechnologiestofullyenhancetheabilityoftransnationaloperationsofChineseenterprises.

      2.AccordingtoChina'sdevelopmentofthesector-specificinvestmentselectionstrategy

      SomeChinesehaveacompetitiveedgewhenmakingindustrialtransfer,China'smultinationalcompaniesshouldbebasedonmodeofentryfornewenterprisesandjointventuresasthemainmodeofentry.Atthisstage,televisionsets,refriger