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The study aims to analyze the role of the Made in China 2025 (MIC2025) initiative in China's Outward Foreign Direct Investment (OFDI) and the factors affecting the success or failure of Chinese enterprises' OFDI from the perspectives of the heterogeneity of home country enterprises.

Based on data on China's OFDI obtained from the China Global Investment Tracker (CGIT), the study uses the difference-in-differences model to analyze 2,670 completed OFDI deals and 211 failed OFDI deals by Chinese enterprises, from 2009 to 2018.

The study found that the effect of MIC2025 on Chinese enterprises' OFDI varies according to the ownership structure of the home country's enterprises. For successful OFDI, MIC2025 significantly impacted central state-owned enterprises (CSOEs), while it did not significantly influence local SOEs and privately owned enterprises. For failed OFDI, the MIC2025 plan only increased the failure of CSOEs' OFDI for the technology-seeking motivation in high-income host countries. Further, the investment options of local SOEs differ from those of CSOEs. Considering their aim to drive the local economy and seek profits, they are more similar to those of privately owned enterprises.

This study used a new database (i.e. the CGIT) to analyze Chinese enterprises' OFDI. It discussed the role of MIC2025 for different enterprises from the perspectives of successful and failed OFDI. It thus provided a new basis for analyzing policy affecting the OFDI of Chinese enterprises.

This comment aims to join the discussion raised by Peng et al. regarding the social responsibility of international business (IB) scholars in the case of Chinese outward foreign direct investment (OFDI), and to provide a subject overview about it.

In response to Peng et al.'s paper, this comment focuses on three issues, i.e. the myth of Chinese OFDI, round‐tripping, and state‐owned enterprises (SOEs).

Owing to a short period of accumulation, the scale of Chinese OFDI stock is small compared to the global total. However, with its momentum, it may become a threat in the long term. Apart from round‐tripping, tax havens such as Hong Kong have multiple functions for Chinese companies to invest in. Although the size of foreign investments conducted by private companies remains small, their role in Chinese OFDI should not be ignored.

The arguments made in this comment are mainly built upon the data from the official publications, which could present a broad but superficial view of the Chinese OFDI. In order to fill research gaps such as the internationalisation behaviour of Chinese OFDI in tax havens, more stories need to be explored.

This comment discusses several issues that have been mentioned by Peng et al. but have been explored less in the literature, such as how to view Chinese OFDI in Hong Kong, and how to view the role of private companies.

We investigate the impact of the strength of intellectual property (IP) institutions on Chinese outward foreign direct investment (OFDI).

We use two different measures of IP on a sample of 21 European countries in the period 2003–2015. Panel quantile methodology is applied to assess the relationship at several points of the conditional distribution of OFDI.

We provide novel and robust evidence revealing a highly negative relationship between OFDI and the strength of IP institutions in Europe. This relationship which is more pronounced in the median and upper-quantiles, bolsters the conventional theoretical expectation that high institutional distance between home and host countries is inversely related to OFDI. Equally important is the preliminary evidence of the non-linear impact of IP at the median and upper-quantiles as well as the impact of other controlling variables such as GDP, population, trade openness and unit labour costs on Chinese OFDI.

The ensuing theoretical implications are of great significance for future studies on the institutional distance and drivers of OFDI by emerging economies as well as for European policymakers in so far as the strengthening of IP institutions constitutes a gravitational point for inward investment flows from China.

The purpose of this paper is to identify and analyse determinants of Chinese outward foreign direct investment (OFDI) into a number of African countries for the period 2003-2012.

A series of panel data models are used to estimate the determinants of Chinese OFDI into eight African countries: Nigeria, South Africa, Zambia, Ghana, Kenya, Algeria, Egypt and the Sudan.

Results highlighted that Chinese investment in African countries is driven by access to natural resources, and factors related to infrastructure quality and the regulatory environment enforced by host governments.

To the best of the authors’ knowledge, this is one of the first papers to identify empirical determinants of Chinese OFDI in Africa and it contributes from two perspectives. Firstly, it identifies drivers behind Chinese OFDI, but also importantly from the African perspective helps understand the reasons that attract investment from one of the world’s largest investors into one of the world’s poorest regions, given the emphasis that is placed on foreign direct investment today as an instrument of growth and development.

The purpose of this paper is to contribute to a better understanding on relations between Chinese Outward Foreign Direct Investment (OFDI) and host country political risk. To contribute to a better understanding of whether traditional wisdom on foreign direct investment (FDI) is sufficient to explain the internationalization of Chinese multinational enterprises, the author collected 15 proxy variables from the PRS Group and Heritage Foundation and applied principal component analysis (PCA) to construct a new political risk index (PRI) that measures multiple facets of political risk for 139 countries.

Using this new PRI as a criterion, the author investigated changes in the political risk distribution (PRD) of Chinese outward FDI (OFDI) regarding investment destinations, large projects, annual investment outflows and sectorial distributions from 2006–2017.

The author found that the vast majority of Chinese OFDI during this period is concentrated in moderate- and low-risk countries, even at the sectorial level. This paper also shows that the continuing reform of Chinese OFDI policy and strong government support have led to an unprecedented increase in Chinese OFDI, while the PRD of Chinese OFDI has maintained a gradual decline over the past decade.

This research provides a new measurement that covers multiple facets of political risk.

The paper aims to investigate the determinants of outward foreign direct investment (OFDI) by Chinese enterprises during China's institutional and economic transition, specifically from the institutional perspective.

An analytical framework was conceptualized by introducing several institutional‐based advantages peculiar to Chinese firms and a series of hypotheses developed regarding the influences of these advantages on the OFDI strategies of Chinese enterprises.

The findings confirm the specific institutional‐based advantages in terms of home government support, investor's financing capacity and host ethnic Chinese resources have salient impacts on OFDI behavior of Chinese firms, as predicted by initial hypotheses. Evidence from sub‐samples tests indicates there are varied determinant mechanisms for trade‐oriented, produce‐oriented, and other types of OFDI, respectively.

The paper offers two primary contributions. On one hand, by integrating conventional eclectic theory and Chinese institutional context, a series of novel hypotheses is proposed that highlights some specific institutional advantages Chinese outward investors could exploit. In this way, the paper provides an analytical framework useful for better understanding of internationalization of enterprises from other emerging and transitional economies.

This paper aims to analyze how the Brazilian and Chinese outward foreign direct investment (OFDI) policies can contribute to the economic development of their home countries.

The aforementioned objective is achieved through a comparative analysis of the Brazilian and Chinese OFDI policies within a new theoretical framework for examining the developmental implications of OFDI. Both primary and secondary data are utilized to compare Brazilian and Chinese strategies.

It was concluded that Brazil and China have shifted from a development strategy centered on internal market self-sufficiency to one that seeks international economic prominence by, among other strategies, adopting OFDI support as a part of their industrial policy agenda. However, while the Chinese Government has focused on cross-national acquisitions of assets that are scarce within the country, the Brazilian Government has preferred to support industries that are already highly competitive internationally. The Chinese strategy has a greater potential to generate positive spillovers to domestic economy.

This paper ends with recommendations on how Brazil, in particular, and emerging economies, in general, may improve their OFDI policies.

The contribution of this paper to the existent literature relies both on its approach and on its theoretical framework. Differing from the majority of the studies on the internationalization of companies from emerging economies, this paper emphasizes the importance of industrial policies to support OFDI and the developmental dimension of these policies. The authors believe that the theoretical framework developed here can be extended to further analysis of OFDI policies from other emerging economies. Policymakers may also benefit from the conclusions of this research.

This paper aims to investigate the host country determinants of Chinese Outward FDI (OFDI) and, given these determinants, examines whether Chinese OFDI in MENA is less than elsewhere.

Data for the top 40 Chinese OFDI recipients including seven MENA countries from 2003 to 2012 were obtained. A pooled ordinary least squares estimation technique on the lagged explanatory variables and the lagged dependent variable – flows and stocks alternatively – with robust standard errors was used.

Chinese OFDI is market, resource and efficiency seeking and is attracted by poor governance. The seven MENA countries seemingly receive significantly less Chinese OFDI flows compared to other countries. However, careful inspection shows that UAE is creating this bias. This maybe because exporting to UAE rather than licensing or FDI seems like the best scenario, or UAE is already satiated with FDI from other countries, or China is waiting for the right time to enter such an FDI-competitive market like that of UAE.

Chinese OFDI is particularly important for MENA because it has a comparative advantage relative to other FDI source countries, and no research so far has investigated if it is less than in other regions, which could provide insights on how to attract it.

The purpose of this paper is to provide a critical overview of the recent phenomenon of outward foreign direct investment (OFDI) from China, from a more macro and historical perspective.

The paper critically reviews the extant literature and re-assesses available data on OFDI from China.

It is argued that despite the explosion of academic interest the phenomenon was neither unpredicted nor sudden.

The paper also argues that OFDI from China is not yet so important and neither presents insurmountable challenges to the established literature on FDI.

This paper aims to examine the question, “How do firm-level, home-country and host-country environmental performance (EP) affect the outward foreign direct investment (OFDI) of Chinese multinational enterprises (MNEs)?”

The authors examine the relationships between EP and OFDI propensity and between EP and OFDI intensity using a sample of 359 Chinese firms in industries with a significant environmental footprint between 2009 and 2019 (2,002 firm-year observations) and a Heckman two-stage model.

This study shows that the propensity for OFDI by Chinese MNEs is significantly and positively related to the firm’s prior EP and the country-level EP of China. However, the amount of FDI invested is significantly and positively related to the firm’s prior EP and negatively related to the EP of the host country.

The findings suggest that FDI in a country by an MNE is determined by a combination of firm-level EP, home-country EP and host-country EP. This study finds that the decision to undertake FDI (propensity) and the decision about how much to invest (intensity) are determined by different factors. The propensity for FDI is determined by the home-country EP and firm-level EP. However, the intensity of FDI is determined by a combination of the host country EP and firm-level EP. A limitation is that this study only examines MNEs in China, so the findings may not apply to other countries.

This paper shows that MNEs’ EP is positively related to the propensity and intensity of their OFDI decisions. However, this paper shows that the home-country and host-country EP may also play an important role in determining the propensity or intensity of OFDI.