Keywords: Zhejiang's current situation of attracting foreign investment, cost-effectiveness
(A) Zhejiang's current situation of attracting foreign investment
Compared with the developed private economy, attracting foreign investment is undoubtedly an "economic short leg" of Zhejiang. In 2002, the actual utilization of foreign capital in Zhejiang was only 27.3% of that in Jiangsu. 4 1.7% in Shanghai. As a major city in the Yangtze River Delta, Hangzhou actually utilized US$ 522 million (in 2003) and Ningbo US$ 65.438+24.7 million, far lower than Shanghai's US$ 5.030 billion and Suzhou's US$ 4.8 1.4, and even worse than Nanjing and Wuxi. (See Figure 1)
Fortune 500 companies play a decisive role in foreign investment, while Zhejiang seems to lack "charm" in attracting Fortune 500 companies. Up to now, more than 400 of the world's top 500 enterprises have entered the Yangtze River Delta, and the accumulated contracted foreign investment is nearly 654.38+050 billion US dollars. More than 200 of them entered Shanghai, and more than one third settled in Jiangsu. According to the data, in recent 10 years, foreign capital such as the world's top 500 companies invested more than 60 billion US dollars in Jiangsu, which injected a strong impetus into its economy. However, only 54 Fortune 500 companies invested in Zhejiang in the same period. The investment attracted by the top 500 enterprises in the world is 365,438+0.8% in Jiangsu and 65,438+08.0% in Shanghai.
Zhejiang not only attracts a small amount of foreign investment, but also has a very uneven urban distribution. Ningbo reached $6,543.8+$24.7 million, and Hangzhou, Jiaxing and Huzhou were between $300 million and $600 million. Taizhou100000 USD, Lishui120000 USD and Quzhou $20 million USD. According to the data, most cities that attract more foreign investment are concentrated in the Yangtze River Delta. In addition, of the 54 Fortune 500 enterprises invested in Zhejiang, 37 have settled in Hangzhou, accounting for 43.5% of the total in the province, followed by Ningbo, accounting for 40.9%. In Quzhou, Lishui and many other cities, there is not a Fortune 500 company to invest.
Obviously, in this round of attracting foreign investment, Zhejiang lags behind the surrounding coastal areas.
Actual utilization of foreign capital in major cities of Yangtze River Delta in 2003 (US$ 100 million)
Cities (Shanghai and Jiangsu) Shanghai Nanjing Zhenjiang Wuxi Changzhou Suzhou
The actually utilized foreign capital (USD 100 million) is 50.3015.025.017.40 5.6438+0 48.438+04.
City (Zhejiang Province) Hangzhou Ningbo Jiaxing Huzhou Shaoxing Zhoushan
The actually utilized foreign capital (USD 100 million) is 5.2212.474.813.853.820.11.
Source: Shanghai Statistical Yearbook 2003, Jiangsu Statistical Yearbook 2003, Zhejiang Statistical Yearbook 2003, China Statistical Publishing House.
Change the status quo and seek development.
The capital supply of Zhejiang's last round of economic development is basically endogenous. Although good results have been achieved at present, in the long run, measures such as introducing foreign capital must be taken to promote the upgrading and optimization of economic growth mode, otherwise it is likely to be at a disadvantage in the new round of growth. Now local governments seem to have realized the importance of introducing foreign capital. Take Jiaxing, Zhejiang as an example. Jiaxing is located at the intersection of Pudong, Jiangsu, Suzhou and Wenzhou, Zhejiang, and has a unique geographical advantage. In 2002, the contractual utilization of foreign capital was US$ 2.089 billion, ranking second in Zhejiang Province, and the actual utilization of foreign capital was US$ 4.865438 billion, an increase of 77%. The quality of foreign investment has improved simultaneously, with 66 large projects with total investment exceeding100000 USD, accounting for 66% of the total contracted foreign investment. From June to September, 2003, Jiaxing approved 472 foreign-invested enterprises, a year-on-year increase of 60%; The contractual utilization of foreign capital was US$ 6,543.8+US$ 47 million, up 82.8% year-on-year; The actual utilization of foreign capital was US$ 506 million, up 80.9% year-on-year. At the same time, the Zhejiang provincial government is actively planning to plan a Hangzhou Bay Economic Development Zone in Jiaxing to adapt to the competition with southern Jiangsu and Shanghai. In this brand-new open platform, the provincial government has given more favorable policies than Shanghai's "173 Plan", including "closed financial development in the region" and "balance of land use indicators in the whole province". In addition, in this economic development zone, enterprise income tax will also enjoy the preferential policies of national development zones, which is not available in the "173 plan".
Wenzhou, which has always been characterized by private economy, has become more and more urgent to attract foreign investment. Before 2003, none of the Fortune 500 enterprises settled in Wenzhou, which ranked third in Zhejiang in terms of economic aggregate. Now, it is reported that the Fortune 500 companies, including General Electric, have set up purchasing and sales centers in Wenzhou. After the introduction of a series of investment promotion measures, the actual utilization of foreign capital in Zhejiang has been greatly improved. According to the latest research report of China Economic Climate Monitoring Center of China National Bureau of Statistics, foreign capital in the eastern region was transferred by provinces, and the actual utilization of foreign capital in Zhejiang increased by 30.8%.
Due to the backwardness of the last round of introducing foreign capital, there is actually a big gap. According to the usual thinking, it is difficult for Zhejiang to shake the advantages of Shanghai and Jiangsu. Especially in April 2003, Shanghai officially implemented the so-called "173 Plan". According to this plan, Shanghai decided to take 173 square kilometers as the pilot park on the basis of the original three municipal industrial parks of Jiading, Songjiang and Qingpu, and adopted a series of preferential measures to reduce the business cost of the pilot park, aiming to make it a "basin" of business cost, a "highland" of government service and a "blessed land" of foreign investment in Shanghai. Undoubtedly, this plan has brought a lot of pressure to Zhejiang. The countermeasure given by Zhejiang is to "attract foreigners and promote people from outside". According to the research, since the early 1990s, the way for the top 500 enterprises to enter China is changing. From the low-cost strategy in the early 1990s to the investment in the industrial chain (including products in the upper, middle and lower reaches) in the mid-1990s, the top 500 enterprises will drive their overseas suppliers to make follow-up investments at the same time. By the late 1990s, the top 500 enterprises had entered the mainframe market through mergers and acquisitions, which not only quickly occupied the market, but also realized the realization of resources. ② Perhaps it is a rare opportunity for Zhejiang, where the private economy is developed. And there are many successful precedents in this regard. Jiashan county is a place without any forest resources, but driven by Taiwan and private capital, it has become a major timber county with plywood production capacity accounting for one-third of the country.
(B) Zhejiang to attract foreign investment cost-benefit analysis
I. Benefits of attracting foreign investment
1. It is beneficial for enterprises to introduce advanced hormone equipment and management mechanism and improve the management quality of enterprises. Sino-foreign joint venture is the main way to introduce foreign capital. Although Zhejiang's private economy is developed, the enterprises themselves have accumulated some experience. However, under the new economic conditions, it is difficult to meet the needs of its own development, and it is even more impossible to achieve the strategic goal of Zhejiang's economic upgrading. On the other hand, compared with international and domestic advanced enterprises, most private enterprises are backward in technology and outdated in equipment. Some enterprises are still in the stage of low-tech workshops and family businesses. The essence of foreign direct investment is the transfer of enterprise resources. Enterprise resources flow from areas with low marginal productivity to areas with relatively high marginal productivity, and entrepreneur resources "overflow". As a major manufacturing, exporting and economic province, Zhejiang has a relatively perfect market, sufficient capital and labor supply, and good infrastructure conditions. At the same time, the Zhejiang provincial government put forward the development strategy of "introducing from outside and promoting from inside". All these provide good conditions for the "overflow" of entrepreneurial resources. If private enterprises can introduce advanced technology and management system at the same time as introducing foreign capital, improve production efficiency and improve loose management system, I believe they will achieve good benefits. There are already successful examples of cooperation in this field, such as spreading and learning Chinese characters.
2. It is beneficial to connect with the international market and enhance the comprehensive competitiveness of Zhejiang economy. Most private enterprises in Zhejiang have grown up from "grassroots". Because the management level can't keep up with the development needs of enterprises, and lack of understanding of the international market, it often encounters development bottlenecks after a certain stage. Foreign enterprises, especially multinational companies, are well-informed, innovative in concept and flexible in operation, and have been operating international sales networks and channels for many years. Private enterprises can strengthen their market concept through joint ventures, and can use the sales networks and channels of foreign enterprises to expand their production and operation fields to the international market. For the whole Zhejiang economy, attracting foreign investment is also of great positive significance. In 2002, the extroversion of Zhejiang economy was 42%, and the contribution rate of foreign-funded enterprises to Zhejiang economy reached 10%. However, the vast majority of foreign trade exports are relatively low, and almost all of them are concentrated on labor-intensive, low-tech and low value-added products. Introducing high-quality foreign capital can provide another way for the internationalization of Zhejiang's economy, and it is also conducive to the advanced development of Zhejiang's economic structure.
3. Optimize allocation and integrate related industries. With the development of vertical integration of enterprises, industrial chains in some fields have been formed. The movement of a large enterprise, especially one that is in line with the world, will also drive the movement of its upstream and downstream suppliers. A typical example is BenQ, 1994, the dominant peripheral manufacturer in Taiwan Province province, China, and one of the top five peripheral manufacturers in the world.