美国重振制造业背景下的中美双边投资研究.pdfVIP

摘 要 以增加出口和就业，发展先进制造业为目标的美国重振制造业战略自 2009 年底启动以来，已经取得了一定成效。本文重点分析了美国重振制造业 背景下影响中美双边投资的因素，以及在此背景下美国对华直接投资及中国 对美直接投资的规模、结构及行业分布情况。 重振制造业背景下影响中美双边投资的因素有：一、重振制造业战略以 发展先进制造业为根本目标，与中国未来制造业的发展方向趋同，因而未来 两国在先进制造业领域必然会产生激烈的竞争；二、美国为改善国内投资环 境、降低投资成本采取了诸多措施，投资环境有望改善，中美两国成本差距 正在缩小；三、美国出口翻番的目标下贸易保护主义抬头，人民币存在升值 压力，TPP 建设可能导致投资转向。 在这种背景下，在华美资波动剧烈且回流美国迹象明显，我国先进制造 业领域的美资年均增长率明显下降而且比重降低，一些资本密集型产业和原 材料重化工行业的美资增长率也有所下降，与此形成对比，我国服务行业的 美资增长率提高而且比重增加。另一方面，中国对美投资增速明显加快，赴 美投资越来越以获取先进技术和市场为导向，生物制药行业和材料行业等重 振制造业战略重点关注领域对美投资增速放缓。 关键词：美国重振制造业，美国对华直接投资，中国对美直接投资，先进制造业 Abstract In 2009, the White House proposed a strategy to revitalize American manufacturing which aims at promoting exports and employment as well as developing manufacturing. After4years,this strategy gets some positive responses.The article analyses how manufacturing revitalization influences bilateral direct investment between China and U.S. as well as changes in scale and structure of investment. Manufacturing revitalization could infuence bilateral direct investment between China and U.S. in ways of the following. 1.Competition in advanced manufacturing industry between China and U.S. is intensifying. 2.The U.S. investment environment and attractiveness of investing in America improved.Therefore,cost gap between China and U.S. is decreasing which may lead to some reverse flow. 3.In the target of ―double exports‖, the pressure of RMB appreciation is rising and the construction of TPP also makes negative influence on investment in China. The scale of U.S. direct investment in China fluctuated violently and reverse flow occurred frequently. In Chinese advancedmanufacturing industry ,the proportion and average annual growth rate of