美国外资监管新政对中国对美投资的影响研究——基于金砖国家的比较  

The Impact of the US New Foreign Investment Regulatory Policies on Chinese OFDI in the US:Based on a Comparison of BRICS Countries

作　　者：郭凌威 Guo Ling-wei

机构地区：[1]中国社会科学院拉丁美洲研究所,北京100007

出　　处：《亚太经济》2023年第3期43-53,共11页Asia-Pacific Economic Review

基　　金：中国社会科学院青年科研启动项目“后疫情时代的全球价值链重整:中拉投资发展与合作”(2021YQNQD0061);国家社科基金青年项目“中国对拉美直接投资的国际比较与提升投资合作质量的路径研究”(22CGJ049)。

摘　　要：2018年美国外资监管政策做出重大变革,并不断进行动态调整。中美战略竞争也逐渐升级,中国对美投资遭遇更多限制。美国是全球最主要的外资东道国,厘清其外资监管政策的变化及影响对中国对外投资发展具有重要意义。在系统归纳并总结了美国外资监管新政的变化,并基于与金砖国家的比较,研究新政对中国企业对美直接投资的影响。结果发现,中国作为对美投资的“后来者”,在美投资存量仍相对有限,但美外资新政对中国投资却表现出较强的针对性,中国企业对美并购投资的数量、效率和产业范围均受到更显著的冲击和限制。中美竞争在中长期内或将持续,中国企业需要适应中美战略竞争与合作长期博弈的新常态。2018 is an important turning point for FDI in the United States.The US has made significant changes to its foreign investment regulatory policies,and the strategic competition between China and the US has gradually escalated,leading to more restrictions on Chinese FDI in the US.Since US is one of the world's largest host countries for FDI,clarifying the changes and impacts of its FDI regulatory policies is important for the development of Chinese OFDI.This paper systematically summarizes the changes of the new US foreign investment regulatory policies,and examines the impact of the new policies on Chinese companies' OFDI in the US based on a comparison with BRICS countries.The results show that,as a "latecomer" to U.S.investment,Chinese FDI stock in the US is still relatively limited,but the new US foreign investment policies have shown stronger focus on Chinese FDI,with more significant shocks and restrictions on the number,efficiency,and target industries of Chinese cross-border MAs in the US.Competition between China and the US is likely to continue in the medium to long term,and Chinese companies need to adapt to the new normal of a long-term game of strategic competition and cooperation between the US and China.

关 键 词：美国外资监管新政 对美直接投资 跨国并购投资 金砖国家 

分 类 号：F114[经济管理—国际贸易] D996[经济管理—世界经济]