Outward Foreign Direct Investment of Chinese Enterprises

This book focuses on China's fast-growing outward foreign direct investment (ODI) and discusses the underlying causes and profound effects of Chinese enterprises' 'going global.' The book includes eight chapters to analyze the basic characteristics of China's ODI manufacturing enterprises, examine the relationship between enterprise productivity and ODI, investigate the differences between state-owned enterprises and private enterprises in factor market, enterprise ownership and investment, analyze the overall effect of the foreign direct investment (FDI) and thereby the China-US bilateral investment treaties (BIT) on Chinese manufacturing sector in terms of productivity and profitability of the firms. The last chapter provides an overview of China's three stages of economic reform and opening-up policy in the past four decades, and analyzes the reasons for China's realization of the splendid economic achievements within such a short time and the main driving forces of China's incremental international trade in different stages, and discusses the future tasks that would promote the country into a new stage of all-round opening-up.

The book aims to illustrate the evolution of China's opening-up design during the past decades and discuss several most important measures to build an all-around opening-up strategy. Based on these profound analyses, the book provides further policy implication for the sustainable development of China's opening-up.

Professor Wei Tian is a tenured associate professor of the School of Economics, Peking University. Her research fields include trade liberalization, import and export enterprises, and foreign direct investment. She has published research papers in domestic and foreign academic journals such as The Economic Journal, The World Economy, Economic Research, Management World. Professor Tian's research results have won 'An Zijie' International Trade Research Award.

Professor Miaojie Yu is President of Liaoning University, and Liberal-Art University Professor of Peking University, China. He is Chang-Jiang Scholar of Ministry of Education of China and is awarded as China's National Science Fund for Distinguished Young Scholars. Professor Yu is the world's top 1% of highly cited economists in economics and management. He has published more than 150 peer-reviewed papers and 22 books in English and Chinese and won the prize of Royal Economic Society (2015).