中國(guó)對(duì)外投資的歷史情形和現(xiàn)今趨勢(shì)外文翻譯-wenkub
2023-05-19 17:49:24 本頁(yè)面
【正文】 s domestic production and foreign market servicing by exports. Chinese enterprises have long established overseas operations to facilitate trade. Certainly, in the early 1990s, the bulk of Chinese ODI in services was export traderelated. Chinese exporters have monly confronted a range of tariff and nontariff trade barriers abroad. Although China?s WTO accession should see these reduced, the reverse may happen in those countries with which Chinese enjoys a large trade surplus, such as the USA. For example, the imposition of protectionist measures (or its threat) presently underpins a small but signi?cant proportion of the recent growth in Chinese ODI to the USA, Latin America and, but less so, to Europe (Taylor 2020), for defensive marketseeking reasons. Protectionist pressure also accounts for a signi?cant share of Chinese ODI in ?thirdparty? trading countries (Taylor 2020). Increasingly, Chinese enterprises are locating ?offshore? manufacturing plants to those countries with which the industrialised nations set few, if any, export quotas and other ?antidumping? measures, or they invest in countries where quota rights can be appropriated readily (Lau 2020, Taylor 2020, UNCTAD 2020). This accounts for much of the recent growth in marketseeking ODI by Chinese ?rms in a number of countries, including, for example, Cambodia (where 6 Chinese garment manufacturers in particular enjoy fewer quota restrictions in third markets)。 1 本科畢業(yè)論文外文翻譯 外文題目： Historic and Emergent Trends in Chinese Outward Direct Investment 出 處： Management International Review, MIR48(2020)6 作 者： Peter J. Buckley, Adam R, Cross, Hui Xin, HinrichVoss 原 文 ： Historic and Emergent Trends in Chinese Outward Direct Investment Entry Mode Literature on the internationalisation of developing country MNEs suggests that minority IJVs are the preferred mode of market entry (Wells 1983, Yeung 1994). One reason is that such ?rms seldom possess the level of proprietary technology and ?rm speci?c knowhow to necessitate internalisation via majority or full ownership (Buckley/Casson 1976, Dunning 1993). This is also evident in the early years of Chinese ODI development: project level SAFE data reveal that, in the early 1990s, around 70 percent of overseas projects of Chinese ?rms took the IJV form (see Table 5). Zhan (1995) also reports that Chinese ?rms tended to opt for majority equity shareholdings in overseas projects, typically in the range of 40 to 70 percent equity participation, especially in natural resourceoriented and manufacturingrelated projects. A number of explanations can be envisaged. From a governmental perspective, the formal investment approval process generally required Chinese MNEs to adopt the IJV entry mode. The Chinese authorities had bee familiar with the economic gains associated with the promotion of inward FDI in the form of IJVs, the promotion of which was a cornerstone of China?s ?Open Door? policy. The JV form was seen as a vehicle for promoting the in?ow of foreignowned technology, manage
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