Through vertical comparison, relevant experts summarized the role of foreign capital in China's economy from 10:
Promote economic growth. According to relevant analysis, during the period of 1980- 1999, about 2.7% of China's GDP grew at an average annual rate of 9.7%, which came from the direct and indirect contribution of utilizing foreign capital. According to the research results of the International Monetary Fund, in the average economic growth rate of China in 1990s 10. 1%, the direct contribution of foreign capital was about 3%.
Promote capital formation. In terms of gross domestic capital formation (GCF), 1983, foreign direct investment accounted for only 0.9% of China's total domestic assets formation. At 1993, it is12.1%; It reached the highest level at 199415.11%; In 2002, it was 10. 1%.
Improve industrial output value and added value. The proportion of foreign-invested enterprises in China's industrial output value rose from 9.2% in 1993 to 33.4% in 2002. In addition, the proportion of foreign-funded enterprises in China's industrial added value increased from 1.0% in 1994 to 25.7% in 2002.
Increase the export scale. 193 The export value of foreign-funded enterprises was 9 174 billion US dollars, and in 2002 it was1699.4 billion US dollars. The proportion of foreign-funded enterprises' exports in China's total exports rose from 27.5% in 1993 to 52.2% in mid-2002.
Create foreign exchange. In 2002, the surplus of foreign banks' settlement and sale of foreign exchange in China was $47,654.38+300 million, accounting for 72.7% of the surplus of Chinese banks' settlement and sale of foreign exchange in the same period and 63.7% of the added value of China's foreign exchange reserves. Although the foreign exchange surplus of foreign-funded enterprises in previous years was not significant, by comparing the product composition of foreign-funded enterprises and domestic enterprises, it was found that the capital goods imports of foreign-funded enterprises were higher than domestic 10- 15% on average. In other words, foreign-funded enterprises mainly import capital goods, rather than intermediate goods mainly based on raw materials, which can form future production capacity.
Pay taxes. From 65438 to 0993, foreign-invested enterprises paid 22.66 billion yuan, accounting for 5.7% of China's total tax revenue. By 2002, foreign-invested enterprises had paid 348.7 billion yuan in tax revenue, accounting for 2 1% of the total tax revenue in China.
Provide employment opportunities. By the end of 2002, there were more than 23.5 million direct employees in foreign-invested enterprises, accounting for about 1 1% of the urban working population in China.
Promote technology transfer and productivity improvement. Foreign investment has brought advanced technology and modern enterprise management skills to China's economy. In the past 20 years, foreign companies have introduced a large number of advanced equipment and technical projects, which not only bridged the technological gap between China and the outside world, but also developed many new products. The calculation shows that the average scale of foreign-funded enterprises is 43% larger than that of domestic-funded enterprises, and the ratio of assets to labor is higher. In addition to using more capital, foreign enterprises have higher capital productivity than domestic enterprises, and their labor productivity is also 88% higher than domestic enterprises. Foreign-funded enterprises are more efficient in utilizing scarce domestic resources. Foreign-funded enterprises did not compete with domestic enterprises for resources. On the contrary, the development of foreign-funded enterprises has promoted the adjustment of China's economic structure and contributed to China's sustainable development strategy.
Produce external effects. The entry of multinational corporations has promoted the development of supporting enterprises. A multinational company entered, and 60% supporting suppliers followed suit, which promoted the localization and localization of employees.
Enhance the competitiveness of enterprises in China. Foreign-funded enterprises have promoted the market competition in China, and their advanced technology and excellent performance have brought pressure to domestic enterprises in China, intensified the competition in China market and enhanced the competitiveness of domestic enterprises.
The deep-seated contribution to China's economy cannot be ignored.
For China, for a long time, the more foreign investment, the better. What we need to face is the problem of insufficient openness, not the problem of excessive openness.
The shortage of funds in China no longer exists, so we don't need more foreign capital. This statement is that we don't understand the background of introducing foreign capital in China. In fact, solving the funding gap is not the fundamental purpose of China's introduction of foreign capital, and the greatest contribution of foreign capital to China's economy is not to solve the funding gap, but to promote institutional change and innovation. At present, the main problem that China's economy needs to solve is still the system transition. Experience has proved that it is far from enough to rely solely on endogenous power, and external reform power must be introduced by introducing foreign capital.
Looking at various industries in China, we can find that the deeper foreign capital enters the industry, the better the system construction and the more standardized the industry management. On the contrary, the more restrictions on foreign investment, the more cautious management of the industry, the more problems.
Foreign capital has played a positive role in promoting the formation of a pattern in China in which the public ownership economy is the mainstay and various ownership economies develop together. This ownership structure is the micro-foundation of the socialist market economy.
Foreign capital has also accelerated the reform of enterprise system. After the grafting of foreign capital and state-owned enterprises, the umbilical cord between enterprises and the government was directly cut off and many administrative interventions were liberated. With labor, personnel, distribution, import and export management rights and investment autonomy in place, domestic enterprises can directly learn the governance system and management concept of foreign-funded enterprises, laying the foundation for the establishment of modern enterprise system.
The development of foreign-invested enterprises has also stimulated the change of income distribution system. Generally speaking, compared with domestic enterprises, the income of employees in foreign-funded enterprises is not only generally higher, but also the income gap between employees is very large. This income distribution mechanism, on the one hand, improves the income level of employees of foreign companies in China; On the other hand, it has broken the long-standing domestic system of "not suffering from poverty but suffering from inequality" and brought capital, technology, management and knowledge into the income distribution category, which can comprehensively improve the efficiency of resource allocation.
Foreign capital forms a market supply, rapidly changes the short-board structure of the market, brings market competition and impact, and expands market access, which is conducive to breaking the domestic market segmentation, accelerating the transformation of the existing administrative-led resource allocation mode to the market-led resource allocation mode in some fields, and accelerating the demise of the old economic system and the establishment of a new system.
Another important function of foreign capital is to promote the adjustment and upgrading of China's economic structure.
Foreign capital first promoted the reorganization between tangible assets. Through foreign holding and mergers and acquisitions, not only some state-owned enterprises have successfully reduced their investment ratio or withdrawn from the competitive field, but also the asset quality of the original enterprises has been improved because of the injection of high-quality foreign assets. Secondly, the reorganization of intangible assets and tangible assets. Using foreign brands and sales channels can save idle state-owned assets.
Foreign capital has also promoted enterprise restructuring. On the one hand, the presence of foreign-funded enterprises in China market can accelerate the transformation of domestic market from monopoly to competition. Under the competitive market structure, some enterprises are shrinking and have lost their ability to survive and develop. Some enterprises are in a state of expansion, and their international competitiveness has improved significantly. The widening gap between enterprises has created conditions for the reorganization among enterprises, which will eventually promote the significant improvement of production concentration in various industries. On the other hand, through joint venture and cooperation with foreign investors, enterprise restructuring can be directly realized and enterprise technology and management upgrading can be accelerated.
Due to the entry of foreign-invested enterprises, some industrial sectors will be created and developed, some industrial gaps in the domestic market will be filled, traditional industries will be transformed, and the pace of industrial restructuring and upgrading will be accelerated.
How to treat the negative effects of foreign capital
Does foreign investment have a negative impact on China's economy?
There must be, but compared with its positive contribution, the negative effect of foreign capital can be ignored. In addition, the inefficiency of state-owned enterprises and the improper intervention of some government departments have had a considerable negative impact on China's economy. Comparatively speaking, the negative impact of foreign investment is relatively small.
Be tolerant of foreign investment. Some problems in foreign investment just show that the amount of foreign investment is not large enough at present, and quality comes first.
There are two reasons to ensure that you don't have to worry too much about foreign investment:
First, the China market is large, and domestic enterprises have enough room for manoeuvre, which will not form a foreign oligopoly; Second, China enterprises are creative and good at learning and improving in the competition with foreign capital. In this case, it is difficult for foreign capital to suppress domestic enterprises.
And generally speaking, the government can "manage" foreign capital through the corresponding legal system, and it is not necessary to exclude foreign capital because of fear of monopoly and other issues.
Some negative effects on foreign investment mainly include:
Price transfer problem. Multinational companies generally implement global business strategy, and it is a common phenomenon for multinational companies to use their global networks to transfer prices or profits. In this regard, the government can take appropriate measures to prevent it.
Technology transfer problem. The fundamental motivation of transnational corporations' foreign direct investment is to pursue profits, transfer and adopt technology, which is mainly based on market competition. The competition here is not only the competition between foreign-funded enterprises and domestic enterprises, but also the competition between multinational companies. In fact, multinational companies have gradually transferred advanced technology to China. Due to the internationalization of China market and domestic competition, multinational companies must transfer new technologies to China. The shortening of product life cycle also forces multinational companies to transfer new technologies to China, such as the mobile phone industry. A complete, open and competitive market is beneficial for multinational companies to research, develop and transfer new technologies in China. The essence of technology transfer is the micro-behavior of multinational corporations. We can't ask multinational companies to use or transfer any technology, nor can we regard it as a negative effect of multinational companies just because they use backward technology or don't transfer technology.
Restrictive business measures, abuse of market monopoly power and some anti-competitive behaviors of multinational corporations are a world problem that needs to be solved urgently and further discussed. It is an effective method to formulate anti-monopoly law.
The investment cost is too high. At present, in order to enhance the competitiveness of attracting foreign investment, local governments at all levels give too many preferential measures to foreign investors, resulting in a lot of waste of land, low investment density, excessive tax relief, and even lowering environmental protection standards, resulting in high investment costs. This situation is not the problem of foreign-funded enterprises, but the result of disorderly competition of local governments.
Environmental pollution problem. Some multinational companies use the competitive attraction policy of developing countries to transfer heavily polluted industries to host countries and lower environmental protection standards in the process of production and operation. However, research shows that the environmental protection standards of multinational companies are generally higher than those of domestic enterprises. In addition, the host government is fully capable of controlling similar problems.