School of Economics, Nankai University, Tianjin, 300071, China.
School of Business, Suzhou University of Science and Technology, Suzhou, 215009, China.
Environ Sci Pollut Res Int. 2023 Aug;30(37):87880-87898. doi: 10.1007/s11356-023-28351-w. Epub 2023 Jul 11.
In the context of China's increasing openness to the global market, outward foreign direct investment (OFDI) has become an effective strategy for expanding overseas markets, and private enterprises have played a crucial role in driving China's economic development. This study utilizes data from the NK-GERC database of Nankai University to conduct a spatio-temporal analysis of the dynamic changes in OFDI by Chinese private enterprises from 2005 to 2020. The findings indicate that Chinese domestic private enterprises' OFDI exhibits a strong spatial pattern in the eastern regions and a weak one in the western regions. The main active investment regions include the Bohai Rim, Yangtze River Delta, and Pearl River Delta. Regarding destination countries for OFDI, traditional developed European economies such as Germany and the USA remain popular choices, but countries along the "Belt and Road" have become hotspots for investment. Non-manufacturing industries account for a higher proportion of investments, with private enterprises showing a preference for investing in foreign enterprises in the service sector. From a sustainable development perspective, the study finds that environmental factors play a significant role in the development of Chinese private enterprises. Moreover, the negative impact mechanism of environmental pollution on private enterprises' OFDI varies according to the enterprises' geographical location and time period. The negative effect is more significant in coastal areas and eastern regions compared to central and western regions, with the most significant impact observed from 2011 to 2015, followed by 2005 to 2010, and the weakest impact seen from 2016 to 2019. As China's ecological environment continues to improve, the negative impact of environmental pollution on enterprises gradually decreases, contributing to the improvement of the sustainability of private enterprises.
在中国日益向全球市场开放的背景下，对外直接投资（OFDI）已成为拓展海外市场的有效策略，而民营企业在推动中国经济发展方面发挥了关键作用。本研究利用南开大学 NK-GERC 数据库的数据，对 2005 年至 2020 年中国民营企业 OFDI 的动态变化进行时空分析。研究结果表明，中国国内民营企业的 OFDI 在东部地区呈现出较强的空间格局，而在西部地区则较弱。主要的活跃投资地区包括环渤海地区、长三角地区和珠三角地区。在 OFDI 的目的地国家方面，德国和美国等传统发达欧洲经济体仍然是热门选择，但“一带一路”沿线国家已成为投资热点。非制造业在投资中占比较高，民营企业更倾向于投资服务领域的外国企业。从可持续发展的角度来看，本研究发现环境因素在中国民营企业的发展中起着重要作用。此外，环境污染对民营企业 OFDI 的负面影响机制因企业地理位置和时间周期而异。在沿海地区和东部地区，负面影响比中部和西部地区更为显著，其中 2011 年至 2015 年期间的影响最为显著，其次是 2005 年至 2010 年，而 2016 年至 2019 年期间的影响最弱。随着中国生态环境的不断改善，环境污染对企业的负面影响逐渐减弱，有助于提高民营企业的可持续性。
