From world factory to global investor : a multi-perspective analysis of China's outward direct investment

Chinese outward direct investment (ODI) is growing rapidly in recent years. As an important phenomenon in the global economy, China’s ODI deserves more thorough analysis. This book looks at China’s ODI activities from multi-perspectives. With the rebalancing of China’s own structural growth and China’s shift towards a net capital exporter, her initiatives such as "One Belt One Road (OBOR)" have brought profound implications to the traditional super-sovereign or multilateral financial and investment cooperation mechanism. As her investment destinations and investment methods become more diversified and sophisticated, this book offers unique and refreshing insight into China’s ODI activities. The book covers the whole range of history and policy development of China’s ODI and analyses China’s ODI trends and characteristics in the recent years. It reviews China’s major policy changes after the Third Plenary Session of the 18th Central Committee of the Communist Party and how they may impact China’s ODI strategy and activities. The book addresses potential challenges and risks of rising ODI activities from practitioners’ perspective, and discusses how recipient countries may react and respond to the surge of Chinese capital. The book also offers policy implications and future research agenda in relation to the Chinese investments. Review of Chinese outward direct investment -- Overseas direct investment by Chinese enterprises : a survey (2005-2016) / Chen Meng, Zhihua Lyu and Chunyang Jiang -- From "world factory" to international capacity cooperation : China's evolving role in the global value chain / Xuedong Ding -- China's economic transition and overseas direct investments / Lawrence J. Lau -- Challenges in gvc and ODI development: what can China do? / Jiong Gong, Xinding Yu and Zhongxiu Zhao -- Chinese outward foreign direct investment : an opportunity to revisit international business theory / Peter J. Buckley -- Policy development and implications -- Recent changes in China's outbound investment policies and their implications / Zucai Hu -- China builds up free trade areas to facilitate OFDIi / Xiangchen Zhang -- Asian infrastructure investment bank (AIIB) : a new mechanism for global financial cooperation / Yaobin Shi -- RMB internationalization : history and outlook / Jun Ma and Huaizhu Xie -- Japan's experience of foreign investment and China's policy options / Wenling Chen and Guanqun Mei -- The dynamics of Chinese ODI 11 : from active buyers to active owners / Gordon Orr and David Cogman -- Execution is the strategy : the key to Lenovo's success in IBM PC division acquisition / Chuanzhi Liu and Neng Liang -- Why go global? : the logic behind investing overseas / John Zhao -- The dynamics of Chinese outbound investment : challenges and case studies / Andrew Wood and Yu Cao -- Capitalizing on opportunities and tackling major legal challenges And risks : a practitioner's perspective / Joseph C. Shenker, Chun Wei and Jordan Oreck -- Chinese ODI in a global context -- Policy implications of FDI on financial sector development / Andrew Sheng -- The history and evolution of Chinese companies going global : what to expect in the years ahead / Yibing Wu -- Chinese investment in the UK : great expectations? / Lord Sassoon and Giles Blackburne -- The "new normal" and its implications for Chinese investment in Africa / Jacko J.H. Maree and Jeremy J. Stevens -- The return of bilateralism : China, post-brexit Britain and Trump / Erik Berglof and Vince Cable -- Conclusion -- Summary and conclusions / Xuedong Ding and Chen Meng Cover Title Copyright CONTENTS List of figures List of tables Foreword Foreword Acknowledgements List of contributors Abbreviations Introduction and overview PART I Review of Chinese outward direct investment 1 Outward direct investment by Chinese enterprises: a survey (2005–2016) 2 From ‘World Factory’ to international capacity cooperation: China’s evolving role in the global value chain 3 China’s economic transition and outward direct investments 4 Challenges in GVC and ODI development: what can China do? 5 Chinese outward foreign direct investment – an opportunity to revisit international business theory PART II Policy development and implications 6 Recent changes in China’s outbound investment policies and their implications 7 China builds up free trade areas to facilitate OFDI 8 Asian Infrastructure Investment Bank (AIIB): a new mechanism for global financial cooperation 9 RMB internationalization: history and outlook 10 Japan’s experience of foreign investment and China’s policy options PART III The dynamics of Chinese ODI 11 11 From active buyers to active owners 12 Execution is the strategy: The key to Lenovo’s success in IBM PC division acquisition 13 Why go global? The logic behind investing overseas 14 The dynamics of Chinese outbound investment – challenges and case studies 15 Capitalizing on opportunities and tackling major legal challenges and risks: a practitioner’s perspective PART IV Chinese ODI in a global context 16 Policy implications of FDI on fi nancial sector development 17 The history and evolution of Chinese companies going global: what to expect in the years ahead 18 Chinese investment in the UK: great expectations? 19 The ‘New Normal’ and its implications for Chinese investment in Africa 20 The return of bilateralism: China, post-Brexit Britain and Trump PART V Conclusion 21 Summary and conclusions Index Chinese outward direct investment (ODI) has been growing rapidly in recent years. As an important phenomenon in the global economy, China's ODI deserves more thorough analysis. This book looks at China's ODI activities from multiple perspectives. With the rebalancing of China's own structural growth and China's shift towards a net capital exporter, her initiatives such as 'One Belt One Road' (OBOR) have had profound implications on the traditional super-sovereign or multilateral fi nancial and investment cooperation mechanism. As China's investment destinations and investment methods become more diversifi ed and sophisticated, this book offers unique and refreshing insight into China's ODI activities. The book covers the whole range of history and policy development of China's ODI and analyses China's ODI trends and characteristics in recent years. It reviews China's major policy changes after the Third Plenary Session of the 18th Central Committee of the Communist Party and how they may impact China's ODI strategy and activities. The book addresses potential challenges and risks of rising ODI activities from practitioners' perspective, and it discusses how recipient countries may react and respond to the surge of Chinese capital. The book also offers policy implications and a future research agenda in relation to the Chinese investments