The Impact of Host Countries’ Digital Infrastructure on OFDI of China’s High-Tech Manufacturing Industry: An Empirical Study of 55 Countries along the “Belt and Road”
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The Impact of Host Countries’ Digital Infrastructure on OFDI of China’s High-Tech Manufacturing Industry: An Empirical Study of 55 Countries along the “Belt and Road”
XU Xiangyu, LIN Shanlang
School of Economics and Management, Tongji University, Shanghai, 200092, China
Abstract Taking countries along the “Belt and Road Initiative” as samples, the paper examines the mechanism and effect of digital infrastructure development in countries along the route to promote investment in China’s high-tech manufacturing industry, and analyzes its heterogeneity at the country, industry and investment model levels. The findings are as follows: (1) The development of digital infrastructure in the countries along the “Belt and Road” promotes investment from China’s high-tech manufacturing sector, and the investment-promoting effect of the host countries’ “digital locational advantage” is significant. (2) The digital infrastructure of host countries positively promotes FDI of China’s high-tech manufacturing by enhancing their technological innovation capacity, investment efficiency and investment convenience. (3) In terms of heterogeneity, digital infrastructure promotes foreign capital more in countries with higher economic levels, in “conventional” high-tech industries such as pharmaceuticals or in “cross-border mergers and acquisitions”. Conversely, its role is weaker in countries with lower economic levels, in “naturally digital” industries like computers, communications, and electronics, or in “greenfield investments”. The above conclusions can provide reference for optimizing foreign investment in high-tech manufacturing and high-quality joint construction of the “Belt and Road”.
XU Xiangyu,LIN Shanlang. The Impact of Host Countries’ Digital Infrastructure on OFDI of China’s High-Tech Manufacturing Industry: An Empirical Study of 55 Countries along the “Belt and Road”. Economic Survey, 2025, 42(3): 058.
2025, Vol. 42 
