The total output value is 4.52%, which exceeds the world's important electronic product production bases in Korea (3.96%) and Taiwan Province Province of China (2.86%), and is second only to the United States (30.40%) and Japan (19.58%). ① The rapid growth of the electronics industry is closely related to foreign direct investment in this industry, and the electronics industry is the manufacturing field with the most concentrated foreign investment. This paper will analyze the current situation, trend, characteristics and influence of foreign direct investment in electronics industry, and finally put forward some countermeasures and suggestions.
First, the electronics industry to attract foreign direct investment status quo
1. the position of FDI in electronics industry in manufacturing industry. Electronic and communication equipment manufacturing industry is the manufacturing field with the most concentrated foreign investment. The total assets of foreign-funded enterprises in this industry are 764.507 billion yuan, accounting for 19.47% of the total assets of all foreign-funded enterprises in China, and the asset scale is more than twice that of the second-ranked transportation equipment manufacturing industry.
Times; At the same time, the electronics and communication equipment manufacturing industry is also the industry with the highest proportion of foreign assets. The assets of foreign-funded enterprises in the electronic and communication equipment manufacturing industry account for 63.25% of all state-owned and non-state-owned industrial enterprises above designated size, which is much higher than the national average of 23.26%.
The electronics industry has become the largest and growing foreign investment.
There are two main reasons for the fastest development of manufacturing industry:
First, the rapid growth of China market and its huge market potential. along with
Take the communication industry as an example. In 2004 alone, China increased office electricity consumption.
The exchange capacity will reach 700196,000, and mobile phones will be added.
The capacity of switches reached 60.489 million units. The China market has become
As an important part of the global strategy of multinational corporations, China is huge.
The market attracts fierce competition from multinational companies. The second is the current situation in China.
China's cheap labor resources. According to the current exchange rate, the situation in China
The weekly salary of employees in the manufacturing industry is only $22.35.
Thailand 38.33%, Malaysia and South Korea 28.7%.
9.2%, Taiwan Province Province 6.8%, Hong Kong SAR 5. 1%, USA,
Japan and Germany account for about 4% (Lv Zheng, 2003). In order to reduce the manufacturing cost
Low-end products or technology in the electronics industry will not
High-level production links were transferred to China to take advantage of China's labor security.
Comparative advantages of integrated products. For example, the manufacturing industry in Taiwan Province Province.
With the increase of costs, enterprises in the electronic information industry in Taiwan Province Province have turned to China.
Domestic transfer, the output value of electronic information hardware manufacturing industry in Taiwan Province Province, China Province
Overseas, it has reached 50. 1%, of which the output value of Chinese mainland is as high as 3 1. 1%.
Hu, 2003.
2. Average scale of attracting foreign investment in electronics industry
/kloc-total foreign direct investment in China since 0/996.
Average agreed amount of manufacturing capital and average agreed amount of foreign direct investment
The amount has not changed much, and it has stabilized at more than 2 million US dollars. but
Average agreement fee for foreign direct investment in electronic and communication equipment manufacturing industry
On the whole, the amount showed a rapid growth trend, from 1996.
2.583 million dollars increased to 7.427 million dollars in 2003.
In 2000, it reached the highest average agreed amount of China and foreign direct investment.
7.427 million dollars.
Important reasons for the increase of foreign direct investment agreements in electronics industry
First, the number of multinational companies investing in China has increased. At present, all the top 500 electronic and electrical multinational companies in the world have invested in China.
Second, the investment of multinational companies has increased, such as Nokia in 2000.
In May 2008, the main investment initiated the project with a total investment of 654.38+0 billion yuan.
RMB Beijing Star Network (International) Industrial Park Project. In 2000,
Possibility and Feasibility of Significantly Increasing the Foreign Agreed Investment in Electronic Industry
The signing of the above-mentioned large-scale foreign investment agreement in 2008 has a lot to do with it. but
Yes, it should also be noted that although foreign businessmen are manufacturing electronic and communication equipment.
The average agreed amount of direct investment is higher, but compared with developed countries.
The gap is still very big. According to the World Investment Report 1994,
The average FDI scale of branches in developed countries is 1730.
On average, each enterprise 1 10,000 USD, and foreign capital flows into developing countries.
The scale of foreign investment is about 4.3 million US dollars. Compared with the world level,
The average scale of foreign investment projects in China is still obviously small.
3. Changes in the types of foreign-invested enterprises
Total number of enterprises above designated size in electronic industry since 1997
There has been little change, but the number of foreign-funded enterprises has maintained considerable growth.
The number of foreign-funded enterprises above designated size increased from 65,438 to 330 in 0997.
200 1 increased to 479, an increase of 45.2%. In foreign-funded enterprises
The number of enterprises invested by businessmen from China, Hong Kong, Macao and Taiwan decreased from 65,438 to 423 in 0997.
386 200 1, down 8.7%; And foreign-invested enterprises.
The number of industries increased from 330 in 1997 to 479 in 200 1.
The growth rate is relatively fast, with an increase of 45.2%. foreign-invested enterprise
The proportion exceeds that of Hong Kong, Macao and Taiwan investment enterprises, and it has become a foreign capital in the electronics industry.
The theme of. From the point of registration type, joint ventures,
Changes in the number of cooperative enterprises and foreign-invested joint-stock companies
Not much, the number of wholly foreign-owned enterprises has increased rapidly, from 1997.
60 increased to 207 of 200 1, an increase of 245%.
Foreign investment in the electronics industry often takes the form of wholly-owned enterprises.
Trends in types.
The reasons for the change in the mode of foreign direct investment are: in the reform
At the beginning of opening up, the foreign investment environment in China was still very strange.
Forming a joint venture carrier with a suitable China partner in the form of joint venture or cooperation is not only conducive to communication with governments at all levels and smooth entry into China.
Market also helps to avoid the risks brought by various non-market factors.
In addition, the laws and regulations at that time did not allow foreign investors to set up wholly-owned sales subsidiaries.
All kinds of resources that can be used by China joint ventures have become the choice of foreign investors.
An important factor in entering the China market by means of joint venture or cooperation. follow
With the deepening of reform and opening up, the efficiency of governments at all levels in China
The rate and the degree of legalization are constantly improving, the foreign investment policy is relaxed, and foreign investors
Investment companies have more and more autonomy, initially because they
They are obviously complementary to each other and become resources that China can use one by one.
Gradually reduce and weaken. In recent years, a large number of international celebrities have entered China.
Multinational companies often have talents, technology, products and brands.
Tangible and intangible ownership advantages such as scale, financing and management.
Potential, in order to achieve the monopoly of core technology, to obtain high market returns.
Double goals, and the implementation of global business control strategy, through
It is often more inclined to choose a wholly-owned enterprise for strategic centralized investment.
(Zhu Zhongyu et al., 2002).
4. Changes in foreign investment patterns
Since 1990s, M&A has been the target of foreign direct investment.
The main driving force of investment. 1990, global foreign direct investment
The investment is USD 202 billion, of which the M&A amount is 15 10.
By 2003, foreign direct investment reached 1.3.
Trillion US dollars, of which the amount of cross-border mergers and acquisitions is 1. 1 trillion US dollars.
About 85%. However, for a long time, the basis of utilizing foreign capital in China is greenfield investment.
There is a serious mismatch between the investment of major multinational corporations and the investment of global multinational corporations, which leads to its emergence.
The main reason lies in the constraints of our laws and policies. But in recent years,
Great changes have taken place in recent years, and the mergers and acquisitions of multinational companies in China have increased.
The trend in Canada occurs in the electronic information industry, with foreign mergers and acquisitions as the mainstay.
Yes: Emerson Electric spent $750 million to acquire Huawei Electric.
Division, Alcatel acquired Shanghai by acquiring China shares.
Bell Holdings, Toshiba acquired Toshiba, Wuxi Huajinghe.
China shares of Wuxi Huazhi. The increase of foreign investment in M&A
Plus mainly lies in the liberalization of policies, 2006 54 38+0 654 38+065 438+0 654 38+04, China.
The China Securities Regulatory Commission and the Ministry of Foreign Trade and Economic Cooperation jointly promulgated the "On the Participation of Listed Companies"
As well as regulations on foreign investment, allowing foreign investors to become non-investors.
Industrial capital, commercial capital and other companies transfer non-tradable shares.
Realize backdoor listing in the form of acquiring the equity of domestic listed companies;
200 1 02 14 China Securities Regulatory Commission promulgated "Foreign Investment"
On the initial public offering of shares issued by joint stock limited companies in China
The book specifically stipulates that foreign-funded enterprises can be allowed to acquire 500 domestic enterprises.
Strong enterprises, including domestic A-share listed companies and unlisted companies.
State-owned shares and corporate shares. On the other hand, due to the establishment of joint ventures
It generally takes 1.5-2 years from investigation and negotiation to opening, which needs to be achieved.
It will take 3- 5 years to reach a certain scale, and only 3- 5 months for mergers and acquisitions.
You can quickly form a production scale and gain the market of the acquired enterprise.
Live sharing. Therefore, for multinational enterprises, M&A investors are adopted.
Type, can quickly and low cost to enter the China market, reduce market competition.
For, and can achieve the purpose of strong alliance (Li Xiaohua et al., 2005).
5. Regional agglomeration of foreign investment
Generally speaking, the electronics industry is mainly concentrated in the eastern region.
Tianjin, Guangdong, Shanghai, Fujian, Beijing, Jiangsu and Shandong.
The number of electronic enterprises in seven provinces and cities accounts for the total number of electronic enterprises.
Number of 52.69%, accounting for the proportion of all assets of the electronic information industry.
65.20%。 The electronic industry also presents the characteristics of regional agglomeration in the province.
For example, both Dongguan, Guangdong and Suzhou, Jiangsu have formed electronic industries.
Shenzhen, Guangdong Province is the gathering place and important production base of the electronic industry in the world.
Shenzhen, Dongguan, Huizhou and Guangzhou account for the total output value of the electronics industry.
83.67% of the province. The layout of foreign capital in the electronics industry is also beginning to emerge.
The characteristics of regional agglomeration measured by owners' equity are reflected in the above seven items.
Proportion of foreign investment in electronics industry in provinces and cities to total foreign investment in electronics industry
It reached 86.68%. Electronic information industry and investment in electronic information production
The industry characteristics of foreign investment are geographical concentration and electronic information industry.
The regional concentration of foreign capital is very high.
Relevance.
Electronic industry and foreign direct investment enterprises in this industry
The reasons for regional agglomeration are: (1) foreign countries, Hong Kong, Macao and Taiwan.
After the company invests in a certain area, if the income is high, the company will
Continue to make follow-up investments, including additional investments in the original subsidiaries.
Capital and the establishment of new support companies; (2) When a large multinational company
After the company invests in a certain place, its upstream and downstream suppliers, distributors and various
Professional service companies and competitors will also enter; (3)
The regional agglomeration of foreign direct investment can promote the development of local enterprises.
Produce agglomeration effect and promote further foreign investment.
Focus. An American scholar is in charge of the influence on foreign investment.
It is found that in areas that are attractive to foreign investors, regions gather together.
For every stock increase of 10%, the area selected by potential investors.
Possibility increased by 5- 7% (head, 1995).
Second, the impact of foreign direct investment on the development of electronic industry
1. The influence of foreign capital on the growth rate of electronic industry
The growth rate of industry is compared with that of foreign direct investment.
Obviously related, foreign capital accounts for a higher proportion of industrial added value.
Industry, the growth rate is relatively fast (Jiang Xiaojuan, 2002). Electronic products
The rapid development of industry is inseparable from foreign direct investment. from
As can be seen from figure 1, in the electronic information industry manufacturing, foreign-funded enterprises
The growth rate of total industrial output value is generally faster than that of the whole electronic information production.
Growth rate of total output value of manufacturing industry and total output value of foreign-invested enterprises.
The proportion of manufacturing output value of electronic information industry to total output value is from 1995.
37.49% rose to 69.68% in 2003, and foreign-funded enterprises
The rapid development of information industry has played an important role in the rapid growth of manufacturing industry.
Often plays an important role in promoting.
2. The impact of the use of foreign capital on the export of electronic industry
Since 1990s, China's foreign trade export has been guaranteed.
With the momentum of rapid growth, the total export volume of foreign trade has increased from 1995.
654.38+048.77 billion dollars increased to 438.23 billion dollars in 2003,
At the same time, the growth rate of electronic products is more rapid. In 2003, the total export value of electronic products increased from 1995 yuan to165.32 million yuan.
654.38+042.09 billion yuan, the export of electronic products accounted for the proportion of foreign trade exports.
From11.11%to 32.42% of 1995.
Much higher than the increase of foreign trade exports. United Nations transnational corporations
The research of the Investment Division found that there is a significant positive correlation between foreign direct investment and exports.
Correlation, per capita FDI increased by 65438 0%, and developing countries are high-tech.
The export of products increased by 0.78%, and the export of medium-technology products increased.
0.39%, the export of low-tech products increased by 0.365438 0% (UNCTAD,
1999)。 The rapid growth of electronic industry exports is largely due to
Driven by foreign direct investment. Foreign-funded enterprises in electronics industry
The proportion of export volume to the total export volume of the electronic industry increased from 65438+57.5% in 0994.
35% increased to 83.72% in 2003, with an average annual increase of 36.8%.
The proportion of wholly foreign-owned enterprises is 20.84% from 1994.
In 2003, it increased to 59.43%, with an average annual increase of 47.37%.
Both are higher than the average growth rate of 3 1. 17% of the total export of the electronics industry.
Long rate.
3. Changes in the export competitiveness of the electronics industry
We use RCA in balasa to measure electricity.
Changes in the competitiveness of sub-industries. Generally speaking, RCA
That the country is at a comparative disadvantage in this industry or product; If RCA>
1 indicates that the country is in a comparative advantage in this industry or product.
The greater the RCA, the greater the relative advantage. Table with RCA index greater than 2.5
Show strong export competitiveness; The RCA index is between 1.25 and.
2.25 indicates strong competitiveness; Between 0.8 and.
65438-0.25, indicating that it has medium competitiveness; Below 0.8 indicates competition.
The competition is weak. Because of the difficulty of data collection, this paper adopts
Office equipment and electronic equipment in trade statistics
Number of products (office machines and telecommunication equipment)
According to approximately replace balasa's electronics industry.
RCA. Analysis shows that China's office equipment and electronic products.
The RCA value keeps rising, from 0.58 in 1990 to 2. 1 1 in 2003 and 2004, and develops from weak competitiveness to strong competitiveness.
International market share of power supply, office equipment and electronic products.
1.05% in 0990 increased to 1.64% in 2002.