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Chinese Outward Foreign Direct Investment in Belt and Road Countries: Trends, Characteristics and Policies

Chinese outward foreign direct investment (OFDI) has attracted more attention in recent years, especially after the Chinese government proclaimed the Belt and Road Initiative (BRI) in 2013. The BRI countries play a key role in receiving Chinese OFDI. This paper analyzes the characteristics and trends of Chinese investment in BRI countries from the geographical and industrial perspectives by using both micro- and macro-level data. Meanwhile, it explores the Chinese government policy that promotes investment in BRI countries. This shows the way of Chinese investment strategy, especially in terms of country chosen and industry chosen. The analysis points out the reasons of Chinese investment, which is natural resource-seeking and market-­seeking. Meanwhile, Chinese government policy affects the decision of Chinese enterprises by using economic incentive.