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An empirical analysis of the impact of foreign direct investment on the upgrading of the industrial structure of Guangdong

Author: TangManLan From: www.yourpaper.net Posted: 2010-06-09 20:45:13 Read:
[Keywords] foreign direct investment   and upgrading of the industrial structure; financial crisis
[Abstract] foreign direct investment is generally regarded as a kind of methods of utilizing foreign capital is most attractive to developing countries, foreign direct investment is a capital, technology and management experience in a package of elements.
Reform and opening up over the past 3O years, foreign direct investment has occupied a very important position in the economic operation and development in Guangdong Province, Guangdong Province has forcefully promoted the development of economy and society, this contribution is not only reflected in foreign direct investment into the construction of Guangdong Province economy much-needed capital, technology and management experience, to create the employment opportunities, increase revenue, but also in the entry of foreign direct investment plays an important role in adjusting and upgrading of the industrial structure optimization.Therefore, study on the impact of foreign direct investment in Guangdong Province, the adjustment of industrial structure, especially in the global financial crisis in the background, how to make rational use of foreign capital to promote Guangdong Province to further optimize the industrial structure has become the focus of attention.
(a) Guangdong Province and the industrial structure of F0I
The history and status quo of Guangdong Province is 1 FDI and the industrial structure
In the early eighty century, because of the construction of Guangdong especially infrastructure construction has just begun, foreign investment in China worry more, so the small amount of investment.In the late eighty, the investment environment has been improved, in the introduction of foreign capital, Guangdong proposed "structural adjustment, on the level, quality, and efficiency" principle, the use of foreign capital and Guangdong Province industrial structure adjustment and upgrade organically.Through the development and accumulated experience of the early ninety's, especially in 1992, Deng Xiaoping's southern tour speech published, making the investment confidence in Guangdong foreign full, Guangdong has entered since the reform and opening up the introduction of foreign capital is the fastest growing, the most active period, foreign sources of the Hong Kong and Macao regions gradually diversified, and the investment has been expanding, the upgrading of the industrial structure.In 2001 China's successful accession to the WTO, the Guangdong gradually get rid of the impact of the Asian financial crisis in 1997, the recovery of growth were obtained by the use of foreign capital, the upgrading of the industrial structure adjustment efforts will further increase, further optimize the investment structure.But in 2008 caused by the United States sub-loan crisis of the global financial crisis makes the Guangdong foreign direct investment by the impact, the contract amount of foreign investment and the actual use of foreign investment are reduced.But at all levels of government and enterprises in Guangdong showed a positive and optimistic attitude, and actively promote enterprises independent innovation, promote economic restructuring and upgrading, has become a broad consensus in Guangdong at all levels of government, enterprises and conscious action.Table 1 below reflects the general situation of utilization of foreign direct investment in Guangdong Province in recent 10 years since the reform and opening up.

According to the data in the table, can be derived from a number of projects, contractual foreign direct investment, the actual utilization of foreign direct investment three to compare,: 2007 foreign direct investment projects signed contract number, foreign direct investment and the actual utilization of foreign direct investment in 1997 has greatly improved.When combined with reduction of the statistics of the real growth rate, than the above data.
Distribution characteristics of industrial structure of 2 Foreign Direct Investment
Since the ninety's Guangdong Province FDI in the three major industries in the distribution, the following table 2 reflects the Guangdong Province of FDI distribution in the three major industries in the ninety years since.

From the table we can see that, since the ninety's has the following characteristics distribution of Guangdong Province in three major industries in the FDI:
(1) the first industry the actual use of the proportion of FDI is very small.From 1997 to 2007 during the 10 years, the first industry Guangdong Province has actually utilized foreign direct investment amounted to $1724000000, accounting for the same period of Guangdong Province the actual use of FDI 1.18% of the total; the main reasons for this are: in the first industry, especially the foreign Multi-National Corporation and the industry itself is less; the first industrial development investment, long production period, low controllability, high risk, foreign investment will lower.
(2) second industry actual use of FDI dominant.During the period from 1997 to 2007 each year the second industry in Guangdong Province, the proportion of all above 60%, the highest reached 86.4%.However, from a different time period the proportion, from 1999, accounting for the actual use of foreign direct investment declined from 86.4% in 2007 to 63.66%, Guangdong Province second industry shows the actual use of foreign direct investment by the period of decline, mainly because of the continuous development of Guangdong Province social economy growing, upgrading industrial structure, industrial structure FDI has been in continuous optimization.
(3) the tertiary industry the actual use of FDI rising proportion.During the period from 1997 to 2007 in Guangdong Province, the tertiary industry from the average annual growth, annual average growth rate of 186.14%, the growth rate of speed of the three industry growth in the first.However, from the Guangdong Province accounts for the actual use of the proportion of FDI, the tertiary industry the proportion is still relatively small, especially the process to upgrade the industrial structure in Guangdong Province, have to be strengthened to guide the development of the tertiary industry to FDI tilt.
Analysis of the distribution of 3.FDI in the three major industries

The table, agriculture, forest, animal husbandry, fishery constitutes the first industry; second industries including mining, manufacturing, electricity, gas and water production and supply industry and the construction industry; other all belong to the category of the tertiary industry.So that we can also see distribution of FDI within the three major industries.

The main characteristics of FDI from the second industry awards are: (1) foreign direct investment mainly concentrated in the manufacturing industry.From the point of view of distribution in recent years, foreign direct investment in second industries (Table 2 ~ 4), the proportion of manufacturing industry is very high, the other three industry investment proportion is low.In 2004 to foreign direct investment in 2007, the average proportion of manufacturing industry accounted for 92.7%7, mining industry, coal water industry and the construction industry accounted for only 0.56%, 5.1% and 1.34%.(2) the electronics industry FDI mainly to light industry, labor-intensive industry and technology-intensive, Guangdong Province formed the whole industry "light outgoing" development pattern, its features are: light industry the proportion of FDI is higher than that of heavy industry; the proportion of processing industry is very high, the proportion of raw material industry and technology-intensive small; industry proportion than the general processing industry.In 2006 as an example, according to the statistical yearbook of Guangdong Province, the foreign direct investment in 2006, light industry investment accounted for the proportion of 56.%8, the heavy industry investment accounted for 43.2%; the raw materials industry in the proportion of 10.82%, accounts for the processing industry to non-agricultural products as raw materials the proportion of FDI is 59.03%, the processing industry of agricultural products as raw materials the proportion of 28.22%.
(two) the problem of industrial structure in Guangdong
Before the reform and opening up, Guangdong industrial structure based on the second industry, three industry first, supplemented by.After the reform and opening up, the industrial structure adjustment and upgrading of Guangdong continuously, rapid growth in the adjustment of the two or three industry.The last few years, the industrial structure of Guangdong has been along the first industrial added value proportion is decreasing year by year, the proportion of the two or three industry in stability to keep up this trend in the optimization adjustment, however, from the reality of the situation, Guangdong Province industry structure still exists in some of the larger problem:
1 irrational industrial structure
According to international experience, the general rules of industrial structure evolution is, the "one two three" mode (pre-industrial society, Pyramid), after "two one three" mode (the early stage of industrialization, olive type) and "two three one" mode (the middle stage of industrialization, olive), into "three two one" mode (the late industrialization, inverted Pyramid).In 2006, Guangdong per capita GDP of 28077 yuan, more than $3500 per capita level.In accordance with the stage division standard of industrialization, the pattern of economic development in Guangdong has been industrialized development stage, this stage is the continued to decline in second industries, the tertiary industry accounted for the dominant position.From the current view of the industrial structure of Guangdong, Guangdong industrial structure proportion
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