河北师范大学 硕士学位论文 外商在华直接投资的独资化倾向研究 姓名：许建亮 申请学位级别：硕士 专业：世界经济 指导教师：张增臣 20100531 III 摘 要 改革开放以来，尤其是中国加入WTO以后，我国利用外商直接投资取得了举世瞩目 的成就。随着我国投资环境的逐步改善，中国利用FDI的规模不断扩大，利用外资的水 平不断提高，与此同时，中国利用外资的方式也悄然发生了变化,出现了由合资和合作 经营企业向独资企业的逐步转变。 论文首先分析了外商在华直接投资独资化的背景、发展历程和现状，并根据外商在 华投资方式的不同按时间顺序将独资化趋势分为了三个阶段，即 80 年代的中外合作企 业阶段、90 年代的中外合资企业阶段和 90 年代末以后的外商独资企业阶段。目前，外 商对华直接投资不管是在投资项目数、合同金额还是实际利用金额上都呈现出明显的独 资化倾向。 究竟是什么原因导致了跨国公司在华纷纷设立独资经营企业或者采取增资扩股、 兼 并收购转变原来的合资合作经营企业为外商独资经营企业？而这种FDI的独资化倾向将 会对我国的经济产生什么样的影响？本文接着对外商直接投资独资化的原因及外商直 接投资对东道国影响进行了系统和全面的综述。分别从东道国的宏观经济环境与跨国公 司的自身发展需要两个角度对我国外商直接投资独资化趋势的动因进行了理论分析， 使 得外商直接投资独资化动因方面的分析更加完善和具有说服力。至于外商在华直接投资 的独资化对我国造成的影响，本文从正面影响和负面影响两方面进行了系统的分析，有 利影响包括跨国公司独资化可以扩大外资企业对华投资，提高中国利用外资的力量，能 改善我国金融危机时期的金融环境，独资化能对国内企业起到示范效应，能提高国内市 场的效率等等。其中关于跨国公司在华直接投资独资化造成的消极影响主要有以下几方 面：跨国公司在华技术溢出效应的弱化；使我国市场的垄断程度加剧，威胁国家经济安 全；利用转移定价造成我国税收大量流失等方面。 最后在系统研究外商直接投资独资化对东道国经济各方面的积极与消极影响的基 础上，针对性地为我国政府和企业提出了可行性的对策和建议。首先我国政府应完善整 个外商投资的法律体系，建立有效的有关反垄断的监督机制，完善政府的产业引导政策 并加强宏观管理；政府应充分发挥政府职能的作用，大力扶持本土企业，在有效的防御 范围内，激励企业技术创新。建立完备的市场监控体系，防范跨国公司的转移定价和避 IV 税行为；规范股权变更的审批等手续，维护中方在合资企业中应有的控制权。作为企业 来说，内资企业应该扬长避短，充分发挥内地优势，建立更加有效的管理制度，建立完 善的技术创新体系，从而提高自身的管理、营销及创新能力，从而提升企业的核心竞争 力，进一步参与同跨国公司的竞争，并努力在竞争中取胜,建立人才激励机制,具备在国 际市场上竞争能力的企业应积极发展“走出去”的战略。 关键词关键词：外商直接投资 独资化 经济影响 对策 V Abstract Since the open policy was implemented in 1979, especially after the entrance to WTO, China has got remarkable achievement in making use of FDI. With the gradual improvement of Chinas investment environment , the scale of making use of FDI expands and the level rises year by year, the modes of using FDI have gradually changed from joined ventures (JVs) and cooperative ventures(CVs) to wholly-foreign-owned enterprises. At first this paper analyses the background, development and current status of wholly-foreign-owned trend of FDI in China, the wholly-foreign-owned trend of FDI is divided into three phases according to different modes in different periods, in 1980s,it is enterprises with Sino-foreign cooperation, in 1990s, it is Sino-foreign joint ventures and in the late 1990s it is full foreign owned enterprise. Nowadays we can find an obvious tendency of wholly-foreign-owned enterprises increase no matter from the increase of investment projects amounts and contract value or the real using value Multinational companies directly establish exclusively foreign-owned enterprises, through increasing capital,alliance or annexation change Sino-foreign joint ventures and the enterprises with Sino-foreign cooperation into foreign-owned corporations. Why do they do that? What effect will the above change bring to Chinese economy? The thesis summarizes the theories about the cause of single proprietorship in foreign direct investment and its effect on amphitryon country. It analyses the causes of single proprietorship in foreign direct investment theoretically from two aspectsthe point of amphitryon country and the point of the multinational corporations. In this way the causes relating analysis should be intact and more convictive.As to the effect of wholly foreign-owned model of foreign direct investment on our country, the thesis systematically analyses the positive and negative influence of the tendency to wholly-foreign-owned entry mode. The exclusively-foreign-owned transnational corporations had more effects on China: Expand the foreign investment in China; Improve the strength of Chinas utilization of foreign capital;Improve our financial environment during the global financial crisis;Play a demonstration effect on domestic enterprises; Improve the efficiency of the domestic market and so on. As to the bad effect, A wholly foreign-owned VI enterprise can decrease the spread of technology. The trend of exclusive investment may lead to monopoly. Multinational corporations are prone to control the resources of the industrial field and it is a threat to national economic safety. Escape from the taxes by transferred Price etc. At last, after the intensive analysis of active effect and negative effect which in foreign direct investment the trend of single proprietor brings to us, I make some feasible suggestions to our government and enterprises to cope with that trend. As to the government, it should complete the law system of foreign investment and build up the effective anti-monopoly system. Reinforce the industrial guidance policy and enhance macroeconomic regulations. The Government should give full play to the role of government ,Give more supports on domestic enterprises.In the framework of effective defense,stimulate technological innovation.Establish a complete market monitoring system to guard against the behavior of the transferred price and tax evasion. Standardize the alteration procedures of the stockholders rights in the purpose of our Chinese dominating the joint venture. Domestic corporations should take advantage of Mainland and set up a more effective management system. And sta