In 2014, The Scale Of China'S Foreign Investment Was About 140 Billion Dollars.

According to the latest statistics released by the Ministry of Commerce, the scale of China's foreign investment in 2014 was about 140 billion US dollars, which exceeded the total scale of foreign capital utilization by about US $20 billion.

With China becoming a "net capital exporter", the pace of restructuring of enterprises in the global industrial chain, supply chain and value chain has accelerated.

Shandong Xinhua Group has acquired two well-known brands and two marketing companies in the US, forming an industrial chain of design, production, brand and sales.

And set up processing enterprises in Kampuchea, pfer some labor-intensive production, and form a clear product layout in the world.

Wang Hua, director of the Shandong Provincial Department of Commerce, said that capital export was increasing with the cross-border use of RMB. Shandong's active layout of value chain enterprises began to increase in recent years.

In addition to low factor costs in neighboring countries and regions such as Southeast Asia, some companies build factories in Europe and America in search of brand, technology and market.

South Carolina and North Carolina are the textile centers of the United States. They have a large number of skilled textile workers here.

After three or four years of searching, nearly 20 Chinese companies have invested and built factories here.

Zhejiang Cole group is one of the textile enterprises, and invested 218 million US dollars here in 2013.

Jin Chuanxin, general manager of Zhejiang Zhong Ma group, told financial news reporters that Chinese companies need to be closer to customers to simplify logistics procedures and reduce pportation costs.

"As the industry matures to a certain extent, production will naturally follow the market."

The textile industry center in the United States has relatively low wages and has a smooth logistics and financing channel.

With the capital going out, the trend of trade double flow is becoming clearer: China relies on the charm of the second major consumer markets, attracting many multinationals to build factories in China, which are suitable for local consumption of products with Chinese tastes, while Chinese enterprises invest abroad and layout international marketing networks, in order to get closer to customers.

More than 20 years ago, Chinese enterprises were embedded in the industrial chain of pnational corporations and made international brands by small profits. The global value chain has driven the release of China's economic growth and reform dividends.

However, from upstream research to downstream marketing, enterprises do not have the initiative. In the global industrial chain, the profit of R & D, marketing and retail accounts for about 90% of the total product profit, while manufacturing and trade links can only get 10% of the profits of the international trade chain.

Many expert analysis, which used to rely on low cost inlaid on the chain of multinational companies, has low spillover effects, and the global value chain is not necessarily able to bring technology pfer and progress, and often fall into low value-added areas to be locked at the low end.

Now, it is based on the layout of the production chain, the establishment of R & D centers overseas, marketing their own brands.

Although this trend is still a trickle, Yifu Lin, honorary president of the National Development Research Institute of Peking University, estimates that such streams will converge rivers.

He told the "finance and economics" reporter, just like Europe, America, Japan and even the four dragons of Asia experienced, China's superior industry has begun to move to the stage of outward pfer.

If we set up a global value chain or production and operation network dominated by Chinese enterprises in Southeast Asia, Africa and other regions, it will surely be more popular than local exports to help the local upgrade the level of industrialization.

Dongguan Huajian company, a shoemaking enterprise, invested in Ethiopia in 2011 and soon became a well-known local enterprise.

"Huajian's practice also proves the economic rationality of China's traditional manufacturing industries such as textiles, shoes and hats and glasses to Africa."

Yifu Lin said.

Today, Huajian has expanded its production in the "Oriental Industrial Park" in the outskirts of Addisababa, capital of Ethiopia. Huajian has become the largest export enterprise in Ethiopia, and the export of leather goods has increased by 57%.

The company has employed 1600 people, producing thousands of pairs of shoes every day for GUESS and other international brands.

The layout value chain has two categories: leading enterprises and following enterprises. In Egypt, Italy, France and other countries, a small number of small and medium-sized enterprises are guided by a leading enterprise, forming an industrial cluster production base.

These bases have shifted part of China's exports.

This is similar to that in Japan in the 80s of last century. Japanese enterprises realized the global layout of investment, production, sale and service. Most products were not produced or exported in their own country.

This makes Japan's foreign trade data not very high, but most of the profits gained by multinational enterprises are flowing back to China.

At the same time, Japanese companies are using Japanese yen appreciation to buy factories in Europe and America, build global value chains, and grow more comprehensive businesses spanning production, services and finance.

The acceleration of bilateral and regional cooperation also affects the trend of the global value chain.

China has signed 12 free trade agreements, involving 20 countries and regions, all of which are the new blue sea of the layout industry chain.

According to the statistics of the Ministry of Commerce, the trade volume between China and the countries along the belt and road has increased by an average of 19% over the past ten years, an increase of 4 percentage points over the same period of the year.

The director said that relying on the "one belt and one road" and the Sino Korean free trade area, Shandong has maintained a rapid growth in the growth of import and export of 32 Maritime Silk Road countries and 47 land Silk Road Economic Belt countries.

China and South Korea's FTA will be signed in 2015, which means that tariffs on over 90% of products will be abolished within 20 years.

South Korea has concluded free trade agreements with the United States and the European Union. Most tariffs have been lifted and customs clearance is convenient. The origin of South Korea's products can be described as South Korea.

In Korea, the new Wan Jin economic zone has already appeared the advantage grafting in the region.

The new Wan Jin is a development zone planned by the Korean government for China. China and South Korea will cooperate in the new high value-added industries such as new materials, new renewable energy, life and health industries.

To this end, it is also known as "China Valley".

It is worth noting that only with the cultivation and matching of the domestic value chain, the overseas production chain can be extended.

Some experts pointed out that the commercial reform and innovation drive in China is conducive to the establishment of a unified and fair market system, fostering a unified domestic market and enhancing the ability to participate in the global value chain division of labor.

China urgently needs to achieve efficient docking between the domestic value chain and the global value chain.

In fact, based on the integration of capital, investment and trade and the output trend of "Sanjiang convergence", the form of trade is no longer simply export processing or OEM export. The domestic and foreign boundaries of trade and the boundary of investment and trade are mixed and fuzzy, and the value chain is not a single one.

At the end of both sides, the global network layout of value chain is intertwined.

Lu Jinyong pointed out that at present, there are three dislocations in the value chain (industrial chain) of China's Overseas Direct Investment: the domestic and foreign industries are separated from the upstream and downstream industries (most of the overseas enterprises are alone or stragglers), investment and trade are out of line, and the construction of overseas outlets is out of line with the core business and leading industries of the company.

At the same time, there are "three deficiencies": lack of global value chains constructed by Chinese enterprises, lack of guidance from Chinese pnational corporations and famous brands, and lack of intra industry and intra company trade realized by outward direct investment.

He believes that only a small number of Chinese enterprises are beginning to pay attention to building global value chains, such as PetroChina, Sinopec [micro-blog], Baosteel Group, HUAWEI, BYD,

COFCO and Shuanghui.

Speeding up the construction of China's enterprise led global production and operation network, building Chinese enterprises' own global value chain, and realizing the rising from the low end to the middle and high end of the global value chain, also urgently need to eliminate the docking obstruction and build a relaxed environment for the chain, and also need to change the traditional trade thinking.

It is too early for us to discuss whether China will be "empty" in the future.