本币升值条件下中日两国对外直接投资比较研究——基于产业选择的视角

A Comparative Study of Chinese and Japanese OFDI in the Condition of Currency Appreciation: Based on Industry Selection

近年来人民币升值频繁,与20世纪70年代日元升值情况有相似之处。基于中日两国在本币升值背景下的对外直接投资状况,本文从对外直接投资规模及嬗变、区域分布特点与产业选择行为3方面比较分析了中日对外直接投资的异同,最后针对日本产业选择的经验与教训,提出了中国对外直接投资要统筹兼顾服务业与制造业、促进投资区域和产业多元化以及提升投资者应对海外投资风险能力的对策建议。

In recent years, we have seen the frequent appreciation of RMB, which is similar to the appreciation of YEN in the 1970s and 1980s. Based on the OFDI situation of China and Japan in the context of the currency appreciation, the paper has a comparative analysis of the similarities and differences of the Chinese and Japanese OFDI from the aspects of OFDI overall scale and change, regional distribution characteristics and specific behavior of industry choice. Finally, according to the experiences and lessons of the Japanese industry selection, three suggestions are put forward： China should balance OFDI in service industry and manufacturing industry, promote the diversification of OFDI at regional and industrial levels and enhance the ability of investors to respond to the overseas investment risks.