中国企业对外直接投资OFDI数据Excel格式(2005-2019)：Construction Contracts建造建设建筑施工合同
我国对外贸易结构对OFDI影响的研究_基于动态面板模型的实证分析_卢洪雨
2013年 3 月 国际商务研究 Mar. 2013总第34卷第190期 GUOJI SHANGWU YANJIU Vol. 34 No. 190我国对外贸易结构对OFDI影响的研究——基于动态面板模型的实证分析卢洪雨 张建兵（浙江工商大学经济学院，浙江 杭州 310018）摘 要：本文使用2003~2010年我国对外直接投资的面板数据，采用GMM估计方法进行动态面板数据分析，考察了我国对外贸易结构对OFDI的影响。
对世界样本的研究发现：我国制成品出口比重对OFDI有显著的促进作用，而对我国初级产品进口集中度、我国与东道国的贸易结合度以及总产品出口竞争力却会产生抑制作用。
对发展中国家样本的分析则显示我国制成品出口竞争力对OFDI有显著的促进作用，而对我国制成品出口比重和总产品出口竞争力却没有显著的影响。
关键词：贸易结构；对外直接投资；动态面板模型；GMM中图分类号：F830.59文献标识码：A文章编号：1006-1894（2013）02-0016-09一、文献回顾关于贸易和对外直接投资两者之间的关系，V e r n o n（1966）[1]认为出口的发展先于国外生产，投资前的出口可以作为市场风险最小化的途径。
A j a m i和B a r n i v （1984）[2]以及G r o s s和T r e v i n o（1996）[3]发现已有的美国与东道国的双边贸易量是FDI流入美国的一个正的决定因素。
Johanson 和Vahlne (1997)[4]认为，FDI与贸易是互相补充的战略，因为跨国公司对东道国市场的占领，可以通过出口或者FDI分别进行，也可以通过二者结合来完成。
在一个连续过程，跨国公司利用通过先前贸易积累起来的东道国市场资源在东道国进行投资。
另外，Barrell 和 Pain（1999）[5]使用日本对欧盟和美国的FDI的横截面时间序列年度数据，对日本20世纪80年代FDI 的规模与区位的决定因素进行了实证研究，结果表明，在控制市场规模、相对劳动成本等变量后，投资显著受贸易保护措施，尤其是反倾销活动的影响。
中国企业对外直接投资OFDI数据Excel格式(2005-2019)：Investments对外各国投资
China© Data Dataset 1Year Month Investor Quantity in MillionsShare Size2005January Minmetals $ 5002005January China Academy ofSciences $ 1,7402005February Minmetals $ 55050% 2005March MCC $ 67085% 2005April CNOOC $ 13017% 2005June Sinopec $ 12040% 2005July Jiangsu Yuejin $ 100100% 2005August CNPC $ 4,20067% 2005September CNPC, Sinopec $ 1,4202005September State-Owned EnterpriseInvestment Company,Beijing Jingdeshun $ 2002005October ChemChina $ 180100% 2005October Sinosteel $ 14050% 2005December CNPC $ 29016% 2006January ChemChina $ 480100% 2006January CNOOC $ 2,27045% 2006February Sinohydro $ 2802006March CITIC $ 2,920100%2006April Group of Shanghai statefirms $ 1,300100%2006May Sinopec $ 74075% 2006May MCC $ 120100% 2006June Sinopec $ 3,49049% 2006July CITIC $ 10051% 2006July CNPC $ 5002006August Wuxi Suntech $ 11067% 2006September Sinopec $ 43050% 2006October CITIC $ 1,9102006October CITIC, Chinalco $ 9402006October Jiangxi Copper $ 11075% 2006November China Nonferrous $ 310100% 2006November Sinosteel $ 23050% 2006November China Development Bank $ 8001% 2006November Ex-Im Bank $ 2,0002006November Three Gorges $ 14090% 2006December Sichuan Changhong $ 10075% 2006December Bank of China $ 970100% 2007January ChemChina $ 7002007January CNPC $ 20050% 2007January China Mobile $ 28089% 2007February Sinopec $ 1002007February Zijin Mining, ChinaNonferrous, Xiamen C&D $ 19045%, 35%,20%2007March Sinosteel $ 2502007May CIC $ 3,0309% 2007May China Mobile $ 18011% 2007May LinkGlobal Logistics $ 1302007June Chinalco $ 790100% 2007June China Ocean Shipping $ 14080% 2007July CITIC $ 1008% 2007July China Development Bank $ 3,0403% 2007July Golden Dragon $ 100100% 2007September Ansteel $ 33050% 2007September Sany Heavy $ 1502007October ICBC $ 5,60020% 2007October China Ocean Shipping $ 15020% 2007November Ping An $ 2,7004% 2007November Chinalco $ 1,20040% 2007November MCC, Jiangxi Copper $ 2,8702007November Youngor $ 120100% 2007December Sinopec $ 2,01051% 2007December CIC $ 5,00010% 2007December Minmetals, Jiangxi Copper $ 450100% 2007December Sinosteel $ 10067%2007December Shenzhen Energy, ChinaDevelopment Bank $ 2002008January SAFE $ 1801%, 1%2008January Jinchuan Group $ 2102008January Wuxi PharmaTech $ 160100% 2008January State Grid $ 1,58040% 2008February Sinochem $ 47017% 2008February Chinalco $ 12,8005%2008February Minmetals and XinxingIron $ 1,20020%, 35%2008February MCC $ 370100% 2008March Sinopec $ 56060% 2008March Huaneng Power $ 3,040100% 2008March China Life $ 2601% 2008March CIC $ 1002008March Mindray Medical $ 2002008April CNOOC $ 13050% 2008April SAFE $ 2,8002% 2008April SAFE $ 2,0101% 2008April CIC $ 1,40080% 2008April Hopu Investment $ 1502008May Chinalco $ 2,160100% 2008June COFCO $ 1405% 2008June CNPC $ 4,990100% 2008June SAFE $ 2,51020% 2008June China National Nuclear $ 1902008June Zoomlion $ 25060% 2008June Huadian $ 5802008July Sinochem $ 20051% 2008July CNOOC $ 2,490100%2008July China RailwayEngineering $ 1,19028%2008July MCC, Sinohydro $ 1,35020%, 20% 2008July Sinosteel $ 1,32051% 2008July China Nonferrous $ 81050% 2008September Sinopec $ 1,990100%2008September Jiangsu Shagang, RGLGroup $ 36045%2008September Sany Heavy $ 1402008September China Ocean Shipping $ 33029% 2008October Datong $ 7602008October CIC $ 2003% 2008October Shenhua $ 1902008November China Ocean Shipping $ 5,7902008December Xinjiang Guanghui $ 25049%2008December Wuhan Iron and Steel,China Development Bank $ 1102008December Datang $ 2602008December Union Development $ 1102009January CNPC $ 1,7602009January CNPC $ 5002009February Hunan Valin $ 77017% 2009February Shougang $ 9902009March Wuhan Iron and Steel $ 24020%, 25% 2009March CIC $ 8002009March CNPC $ 2,9902009April CNPC $ 2,6002009April Tianjin Pipe $ 1,300100% 2009April Jiangsu Taihu $ 3202009May MCC $ 52010% 2009May CNOOC, Sinopec $ 320100% 2009May CNPC $ 1,02046% 2009May HNA $ 1502009May China Nonferrous $ 37085% 2009May Najinzhao $ 100100%2009May Guangdong Rising AssetManagement $ 14020%2009June CNPC $ 1,02051% 2009June Sinopec $ 7,200100% 2009June CIC $ 1,2101% 2009June CIC $ 5002009June CIC $ 7102009June Ansteel $ 13024% 2009June Minmetals $ 1,39051% 2009July CIC $ 3701% 2009July Shenhua $ 23070%2009July Chinalco $ 1,5004% 2009July CIC $ 1,50017% 2009July Haicheng Xiyang Group $ 480100% 2009July Tianjin Development $ 2802009July Taiyuan Iron, ChinaDevelopment Bank,Shanxi Coking Coal, andTianli Enterprises $ 74034%, 33%,21%, 12%2009August Yankuang $ 2,950100% 2009August CNOOC $ 1002009August CNPC $ 1,74060% 2009August CNPC $ 47060% 2009August Sinochem $ 880100% 2009August CIC $ 45019% 2009August CIC $ 1,0902009September CIC $ 94011% 2009September CNPC $ 1,16050% 2009September ICBC $ 5302009September Shanghai Electric $ 35040% 2009September CIC $ 1,2002009September Unicom $ 1,0001%2009September State ConstructionEngineering $ 1003%2009October CIC $ 25013% 2009October CIC $ 30045% 2009October CNPC $ 2602009October CNPC $ 5,59037% 2009November CNOOC $ 1002009November CIC $ 1,58015% 2009November Baosteel $ 24015% 2009November Wuhan Iron and Steel $ 40022% 2009November Wuhan Iron and Steel $ 25015% 2009November Shougang $ 1002009November Great Wall Motor $ 1202009December CIC $ 5002009December China Mobile $ 5002009December Jin Jiang Hotels $ 15050% 2009December Beijing Auto $ 2002009December Shanghai Auto $ 35050% 2009December AVIC $ 14081%2010January China RailwayConstruction and ChinaNonferrous $ 650100%2010January Baiyin Non-Ferrous,CITIC, Chang Xin $ 19060%2010January Shandong Sun Paper $ 200100% 2010January Jinsheng Trading $ 100100%2010January Shunde Rixin andMinmetals $ 1,91070%2010February Wanhua Industrial $ 1902010February CIC $ 9602% 2010February CIC $ 1,5002010February Chinalco $ 35035% 2010February Sany Heavy $ 200100% 2010March CNPC $ 1,58050% 2010March CNPC $ 18051% 2010March CNOOC $ 3,10050% 2010March CIC $ 2002010March East China MineralExploration andDevelopment Bureau(Jiangsu) $ 1,2002010March Geely Auto $ 2,7002010March First Auto Works andChina Development Bank $ 1002010March Sinomach $ 5002010March Sinomach $ 5402010April CNOOC $ 2705% 2010April Sinopec $ 4,6509% 2010April CNPC $ 9002010April Jinchuan $ 12049%2010April China RailwayConstruction $ 26013%2010April Sichuan Hanlong $ 14055% 2010April Tencent $ 30010% 2010April CIC $ 4902010May Jiangsu Zongyi $ 200100% 2010May Hopu Investment $ 1001%2010May CIC $ 1,2205%, 45% 2010May Sinochem $ 3,07040%2010May CNPC $ 1,48035% 2010May State Grid $ 1,720100% 2010May CNPC $ 1502010May Jinchuan, ChinaDevelopment Bank $ 23051%2010May Tangshan Jidong Cementand China DevelopmentBank $ 12060%2010May Jiangsu Qiyuan $ 140100% 2010May Tianyu Group $ 990100% 2010June Shaanxi Chemical $ 1,0102010June Yunnan Metallurgical $ 10050% 2010June Shanghai Electric $ 1,15060%2010July Sinomach $ 1402010July Tempo Group, Beijingmunicipal government $ 440100%2010July China Merchants $ 550100%2010August China CommunicationsConstruction $ 130100%2010August Chery Auto $ 4002010September Inner Mongolia Hongkun $ 18051% 2010September Huadian $ 36051% 2010September Bosai Minerals $ 1,20080% 2010September Norinco $ 1,4802010September Jinchuan $ 420100% 2010September CITIC $ 1502010September Shanda Interactive $ 100100% 2010October ChemChina $ 1,44060% 2010October CNOOC $ 2,37033% 2010October Sinopec $ 7,10040% 2010October Minmetals $ 2,500100% 2010November Guangdong Rising $ 400100% 2010November CNPC, Sinopec $ 6102010November Huaneng Power $ 1,23050% 2010November Chongqing Chonggang $ 27060% 2010November CIC $ 1,0302010November Shanghai Auto $ 5001%2010November China Merchants andChina Development Bank $ 15048%2010December Taiyuan Heavy $ 130100% 2010December Sinopec $ 68018% 2010December Sinopec $ 2,4702010December Three Gorges $ 1702010December CIC $ 2002010December China RailwayConstruction, NanjingGovernment, ChinaDevelopment Bank, andGuangdong Xinguang $ 1,91060%2010December Ashima Cultural Group $ 5002010December Xinjiang Hualing,Shanghai Boda $ 100100%2010December Sinochem $ 27050% 2010December AVIC $ 190100% 2010December Sinohydro $ 1,03085% 2010December Reignwood $ 170100% 2010December Bank of China $ 1702010December Sinomach-led consortium $ 10068% 2011January ChemChina $ 2,010100% 2011January Yankuang $ 920100% 2011January CNPC $ 51050% 2011January CNPC $ 51050% 2011January ICBC $ 14080% 2011January Wuhan Iron and Steel $ 12060%2011January Jiangsu Jinsheng $ 13050% 2011January China Unicom $ 5001% 2011January Sinohydro $ 14090% 2011January Lenovo $ 18051%2011January Shangdi GuanqunInvestment $ 2,0002011February Wanhua Industrial $ 1,66058% 2011February Sinopec $ 1,52015% 2011February CNPC $ 370100% 2011February CNOOC $ 3302011February CIC $ 1002011February CIC $ 1902011February Nanshan Group $ 160100% 2011February Tencent $ 40084% 2011February Fulida Group $ 250100% 2011February AVIC $ 200100% 2011March Chongqing Grain $ 5702011March Sichuan Hanlong $ 18016% 2011April Evergreen $ 120100%2011April Datang Power, ChinaSouth Industries $ 2,03064%2011April ICBC $ 100100% 2011April Chinalco $ 8002011April Sany Heavy $ 200100% 2011April ZTE $ 200100% 2011April Ningbo Joyson $ 10075% 2011May Sinopec $ 54080% 2011May Shandong Iron $ 1,49025%2011May CITIC, China DevelopmentBank, Long March Capital $ 47075%2011May Zijin Mining $ 1002011May Fosun $ 12010%2011May China National BuildingMaterial $ 3502011May China Chengtong $ 3502011May Chery Auto $ 200100%2011June Heilongjiang BeidahuangNongken $ 1,5102011June ICBC $ 68075% 2011June Suning Appliance $ 11031% 2011June Dreal Group $ 1,19070% 2011June HNA $ 27090% 2011June Lenovo $ 67082% 2011June Beijing Auto $ 270100% 2011June Fuyao Glass $ 200100% 2011June Three Gorges $ 2,29050% 2011June Gold One $ 2502011July COFCO $ 14099% 2011July Guodian $ 26070% 2011July Shenhua $ 1,01021% 2011July CNOOC $ 2,040100% 2011July Jinchuan $ 1,360100% 2011July Jilin Nonferrous $ 930100%2011July Sinosteel $ 3002011July Haier $ 1302011July CITIC $ 420100% 2011July Chery Auto $ 1702011August Bright Foods $ 39075% 2011August CIC $ 36019% 2011August Yankuang $ 210100% 2011August CIC $ 3,24030% 2011August SAFE $ 7203% 2011August Jilin Nonferrous $ 4002011August Taiyuan Iron, CITIC,Baosteel $ 1,95015%2011August Guangdong Midea $ 23051% 2011August JAC Motors $ 10020% 2011August HNA $ 53050% 2011September Yankuang $ 2602011September Xinjiang Goldwind $ 200100% 2011September Yankuang $ 300100% 2011September United Energy $ 7502011September Minmetals $ 1,280100% 2011September Qingdao Tianzhong $ 100100% 2011September China Merchants $ 28055% 2011October Tsingtao Beer $ 100100% 2011October Wanhua Industrial $ 26096% 2011October CNPC $ 4002011October Sinopec $ 2,100100% 2011October China Nickel Resources $ 27080% 2011October Soho China $ 57049% 2011October Wolong Holding $ 140100% 2011November CIC $ 85010% 2011November Sinopec $ 4,80030% 2011November ICBC $ 1005% 2011November Guangxi Nonferrous $ 5002011November Anhui Foreign EconomicConstruction $ 20050%2011November Zhouda Real Estate $ 7902011November Huawei $ 1302011November China Railway $ 12010% 2011December Shenhua $ 30075% 2011December Yankuang $ 2,21077% 2011December Sinopec $ 99010% 2011December CNPC $ 15051% 2011December Three Gorges $ 3,51021% 2011December CIC $ 25025% 2011December Shougang Group $ 24040% 2011December CIC $ 8002011December Three Gorges $ 130100% 2011December Sinopec $ 3,71038% 2011December CNPC $ 27050% 2011December Geely Auto, CITIC $ 13040%2012January Sinopec $ 2,20033% 2012January CNPC $ 67040% 2012January Jilin Nonferrous $ 100100% 2012January CIC $ 9209% 2012January Sany Heavy, CITIC $ 480100% 2012January Shanghai Wanfeng $ 520100% 2012January HNA $ 1302012January Shandong Heavy $ 46075% 2012January China Merchants $ 15030% 2012February Xinjiang Goldwind $ 19050% 2012February CNPC $ 1,03020% 2012February Sinochem $ 9802012February CIC and Sinopec $ 3002012February Sinochem $ 26035% 2012February CNOOC $ 1,47033% 2012February State Grid $ 51025% 2012February Golden Dragon $ 100100%2012February Guangxi LiugongMachinery $ 1002012February China Shipping $ 1202012February Guangdong NuclearPower and ChinaDevelopment Bank $ 99090%2012March Bosai $ 1002012March Guangdong Nuclear andChina Development Bank $ 2,380100%2012March Zijin Mining $ 1002012March China National BuildingMaterial $ 2302012April Shanghai Pengxin $ 170100%2012April China Power Investmentand AVIC $ 85053%2012April CIC $ 2002012April Norinco $ 5002012April Hebei Iron and Steel $ 20020%2012April Xuzhou ConstructionMachinery $ 33052%2012May Bright Foods $ 1,94060% 2012May Wanxiang $ 4202012May United Energy $ 2002012May State Grid $ 9402012May China Construction Bank $ 200100% 2012May Sinomach $ 12060% 2012May CIC $ 4205% 2012May Ex-Im Bank $ 2402012May Dalian Wanda $ 2,600100%2012May China Architecture Designand Research $ 150100%2012May SAFE $ 4402012May Huawei $ 1,500100% 2012June Hanergy $ 510100% 2012June Tebian Electric Apparatus $ 200100% 2012June Xinjiang Hualing $ 10090%2012June CIC $ 90050% 2012June China Nickel Resources $ 1,26061%2012June China RailwayEngineering $ 4102012June Zijin Mining $ 240100% 2012June Tencent $ 33040% 2012June SAFE $ 20010% 2012June CIC $ 4907% 2012June Huadian $ 590100% 2012June Chery Auto $ 1202012July China Electric Equipment $ 6002012July Sinopec $ 1,50049% 2012July SAFE $ 1,5002012July China Copper Mines $ 1002012July SAFE $ 5002012July Sichuan Bohong $ 250100% 2012July China South Locomotive $ 1302012August Wanbao Grain $ 210100% 2012August Huadian $ 640100% 2012August CIC $ 5002012August Zhejiang Huayou Cobalt $ 3502012August China Merchants $ 19050% 2012September Shandong Ruyi $ 26080% 2012September Synutra $ 1202012September Shandong Energy $ 210100% 2012September China Power Investment $ 1302012September China Nonferrous $ 830100% 2012September Sinomach $ 100100% 2012September Wuhan Iron and Steel $ 450100% 2012September Shandong Gold $ 24051% 2012September Shandong Heavy $ 93025% 2012September BGI $ 120100% 2012September Xinwei $ 3002012September Lenovo $ 150100% 2012September Beijing Auto $ 3002012September Harbin Electric $ 13050% 2012September HNA $ 1102012October Beijing Jingmei $ 10024% 2012October CNOOC $ 1,9302012October CNPC $ 1,51050% 2012October Sinopec $ 17050% 2012October Haier $ 680100% 2012October Shanghai Greenland $ 900100% 2012October Shandong Linglong Tyre $ 120100% 2012October Shanghai Auto $ 15051% 2012October CIC $ 73010% 2012October Sailun Tire $ 100100% 2012November Shanghai Zhongfu $ 730100% 2012November Sinopec $ 2,50020% 2012November State Grid $ 51041% 2012November CIC $ 11013%2012November China National BuildingMaterial $ 3002012November CIC $ 4002012November CIC$ 46033%2012November Mengniu $ 150100%2012December Yili Industrial $ 170100%2012December Wanxiang $ 2602012December Three Gorges $ 47049%2012December CNPC $ 1,6302012December CNPC $ 2,18049%2012DecemberCNOOC$ 15,1002012December Hebei Iron and Steel,General Development,Tewoo $ 38035%,25%,20%2012December Sinosteel$ 6602012December Chengdu Tianqi Industry and CIC$ 84065%, 35%2012December Jiangsu Jinsheng$ 7002012December Zoomlion $ 24040%2012December Country Garden Holdings $ 3302012December China Shipping, China Ocean Shipping, China Merchants $ 14010%,10%,10%2012December CNPC $ 5002012December Anhui Conch $ 200100%2012December Hualing $ 1702012December China Merchants $ 19024%2012December MCC $ 1,09085%2013January Xiamen University $ 1902013January Sinochem $ 1,70040%2013January Minmetals $ 1,570100%2013January China Merchants $ 53049%2013February COFCO $ 180100%2013February Sinopec $ 1,02050%2013February CIC $ 10020%2013February CITIC $ 47013%2013February Guangxi Beibu $ 650100%2013February SAFE $ 11049%2013February SAFE $ 84040%2013February Vanke $ 43070%2013February HNA $ 31020%2013February Geely Auto $ 150100%2013February Guangxi Beibu $ 48040%2013March CNPC $ 4,21029%2013MarchState Grid $ 1,1402013March Anhui Foreign Economic Construction $ 1702013March Beijing Enterprises $ 100100%2013March State Construction Engineering$ 2502013March Shandong Bright Ruby $ 2002013March SAFE $ 24033%2013April COFCO $ 3202013AprilChina National Aviation Fuel$ 13026%2013April Hongye Investment $ 1002013April China Nonferrous $ 75050%2013April Tianjin Development $ 5002013April CIC $ 10021%2013April Vanke $ 11030%2013April Fosun $ 24096%2013May Shuanghui $ 7,100100%2013May State Grid $ 81020%2013May State Grid$ 3,81060%2013May China Construction Bank $ 1002%2013May Fosun$ 1002013May Shandong Qixing $ 1402013May Keep Glory $ 120100%2013May CDH $ 11020%2013May Fosun$ 36046%2013June Comtec Solar $ 380100%2013June CNPC $ 94020%2013June Sinopec$ 1,52010%2013June Xugong Construction Machinery $ 200100%2013June Dalian Wanda $ 1,0902013June AVIC$ 260100%2013June Soho China $ 68020%2013June Zarsion$ 7502013JuneMindray Medical $ 110100%2013June Shanghai MicroPort Scientific$ 2902013June Dalian Wanda $ 50092%2013June State Construction Engineering $ 45045%2013July Sinopec $ 1102013July CNPC$ 5,3008%2013July Meidu Holding$ 140100%2013July Yunnan Copper-led consortium$ 180100%2013July China Molybdenum $ 82080%2013July Kingho Energy $ 1,700100%2013July Tencent $ 3506%2013July Ping An$ 3902013July Shanghai Greenland $ 9902013July Shanghai Greenland $ 2402013July Tsingshan Steel $ 32050%2013July MCC$ 2402013AugustThree Gorges $ 1,6502013August Sinopec$ 3,10033%2013August Shanxi Coking Coal $ 140100%2013August Belle International and CDH$ 16055%2013August Shandong Bright Ruby $ 9102013AugustChina Ocean Shipping$ 3002013August China Railway Rolling Stock $ 130100%2013September CIC$ 2,04013%2013September CNOOC $ 2,00085%2013September Sinopec $ 1,4002013SeptemberAnsteel$ 23012%2013September Shenzhen Zhonglin Lingnan $ 11047%2013September Sinoma $ 14059%2013September Dreal$ 60070%2013September Shaanxi Yanchang Petroleum $ 300100%2013October CNOOC $ 12010%2013October CNPC$ 62049%2013October CNOOC and CNPC $ 1,40010%, 10%2013October Sinopec$ 1502013October China Construction Bank $ 72074%2013October Zongshen Industrial $ 100100%2013October Alibaba $ 11018%2013October Fosun $ 1002013October Fosun $ 73070%2013October Huawei$ 200100%2013OctoberHenan Meijing $ 100100%2013October State Construction Engineering $ 2702013October HNA$ 470100%2013November CNPC $ 1,25025%2013November CNPC$ 2,8902013November Shanghai Greenland $ 98041%2013November Shanghai Zendai $ 1102013November CIC $ 2802013November CSR$ 4002013November Evergreen $ 1,1502013December Shenhua$ 46050%2013December Three Gorges $ 13050%2013December Three Gorges$ 25050%2013December Anhui Foreign Economic Construction $ 500100%2013December Keer Group $ 220100%2013December AVIC$ 26059%2013DecemberOceanwide Holdings $ 180100%2013December Guangzhou R&F Properties$ 1,3702013December Shenzhen Hepalink $ 340100%2013December Shenzhen Hazens $ 1002013December China South Industries $ 100100%2013DecemberHenan Civil Aviation $ 22035%2013December Shenhua $ 12051%2013December Norinco$ 18085%2013DecemberShanghai Greenland$ 9802013December CIC$ 1,2802013December Huaneng$ 41051%2013December Wanfeng Auto $ 170100%2013December Meidu Holding $ 2902014January Fosun$ 2,03080%2014January China National Nuclear $ 19025%2014January Lenovo $ 2,910100%2014January Lenovo$ 2,1402014January Fuyao Glass $ 200100%2014January Goodbaby $ 100100%2014February COFCO$ 2,04051%2014February Three Gorges $ 39033%2014February Shaanxi Coal and Chemical$ 430100%2014February Goldleaf Jewelry $ 67095%2014February ICBC$ 69060%2014February China Nonferrous $ 150100%2014February Bank of China, China Life, and Hopu$ 1602%2014February Shanghai Greenland $ 540100%2014February Beijing Capital $ 1002014February Anhui Landing $ 1,10050%2014February Huaxin Post and $ 31085%2014February Dongfeng $ 1,10014%2014February Wanxiang $ 150100%2014February China Energy $ 1602014February Alibaba$ 20025%2014March Zhenfa New Energy Science$ 250100%2014March Geo-Jade Petroleum $ 53095%2014March SAFE $ 2,7602%, 3%2014March Fosun $ 14019%2014March Tencent$ 50028%2014March Shandong Ruyi $ 1202014March Beijing Capital $ 8002014March Cinda$ 21070%2014March Shanghai Greenland $ 3202014March Shanghai Greenland $ 1,0602014March Alibaba $ 22020%2014March Geely Auto$ 200100%2014MarchChina Power Investment $ 44033%2014April Zhejiang Rongsheng,Shanghai ZhongRong,and Legend$ 4402014April Sinopec $ 1,09050%2014April ICBC$ 32076%2014April Minmetals, Suzhou Guoxin, and CITIC $ 6,99063, 22,15%2014April Sanpower$ 76089%2014April Shanghai Greenland $ 7402014April Hubei Fuxing Science $ 510100%2014AprilChina Mobile$ 520100%2014April China Merchants $ 82050%2014April COFCO and Hopu Investment $ 7502014May Bright Foods$ 1,56078%2014May Sinopec and Huadian $ 1,24010%, 5%2014May Shanghai Electric $ 56040%2014May Hongqiao $ 11090%2014May MCC $ 3502014May Chinalco $ 1,35041%2014May Alibaba$ 25010%2014May Shenzhen Genzon $ 35095%2014May Baidu $ 300100%2014May HNA $ 1802014May AVIC $ 640100%2014May CNPC$ 600100%2014June Tebian Electric$ 1002014June Shanghai International Group and Sanpower $ 170100%2014June LeEco $ 2002014June Yida$ 740100%2014June Dalian Wanda $ 3602014June China Life$ 95070%2014June China Construction Bank $ 1902014June China Mobile $ 88018%2014June Goodbaby$ 140100%2014June Heilongjiang Grand Farm $ 19020%2014June China RailwayConstruction and China Nonferrous $ 2,0402014July Huapont $ 22020%2014July Legend $ 1,540100%2014July SAFE $ 17049%2014July CIC$ 1,36019%2014July Baosteel $ 86065%2014July Alibaba$ 1202014July Shandong Daiyin $ 200100%2014July Sany Heavy$ 300100%2014July State Development and Investment Corp and Anhui Conch$ 3202014July Country Garden Holdings $ 470100%2014July Jinhua Huajian $ 300100%2014July ZTE $ 1002014July SAFE $ 5202%2014July SAFE $ 1102%2014July SAFE $ 2802%2014July Fosun$ 11023%2014July Fuyao Glass $ 2002014JulySolargiga$ 11090%2014August Sichuan Department of Agriculture $ 3002014August CNPC$ 1,09040%2014AugustRongsheng Heavy Industries$ 28060%2014August Fosun$ 440100%2014August China Construction Bank $ 72072%2014August China Life $ 2502%2014August SAFE $ 6302%2014August Fosun $ 46020%2014August Hongqiao$ 84056%2014August China General Nuclear $ 1,92090%2014August SAFE$ 29050%2014August Dalian Wanda, Ridong $ 4602014August Shanghai Shenglong $ 1202014August MCC$ 3802014August Exim Bank$ 20050%2014August Shenzhen Hazens $ 110100%2014September CNPC $ 99010%2014September Sinomach$ 1,2002014September Hebei Iron and Steel $ 40051%2014September Huayi Brothers $ 130100%2014September Fosun$ 20048%2014September Dalian Wanda$ 4802014September Shanghai Shenglong $ 1502014September China Merchants and China Communications Construction $ 3902014September Reignwood $ 220100%2014September CITIC$ 1402014September Shanghai Greenland $ 1102014October Risen Energy $ 230100%2014October SAFE $ 1402%2014October Anbang $ 310100%2014October SAFE $ 6302014October Fosun $ 59096%2014October Huawei $ 1802014October Anbang$ 1,9502014October State Construction Engineering $ 230100%2014October Lifan $ 290100%2014October SAFE$ 17050%2014November Yili Industrial $ 3102014November ChemChina $ 640100%2014November Yankuang$ 2,9602014November Power Construction Corp $ 1,46049%2014November State Grid$ 2,76035%2014November Hebei Zhongbo Platinum $ 230100%2014November Vision Investment $ 1302014November Jin Jiang Hotels $ 1,490100%2014November Sunshine Insurance $ 4002014November CITIC$ 1202014November Harbin Electric $ 450100%2014November Texhong Textile$ 2102014November Shandong Landbridge $ 170100%2014November Beijing Auto $ 300100%2014NovemberXinyi Glass$ 200100%2014November Dreal$ 2,000100%2014December China General Nuclear $ 1602014December SAFE $ 1002%2014December Anbang$ 2302014December Haitong Securities $ 4702014December Fosun$ 430100%2014December Dalian Wanda $ 7402014December BlueFocusCommunications $ 18051%2014December Shanghai Greenland $ 3,22070%2014December Dalian Wanda $ 9002014December Bank of China $ 6002014December Baidu$ 6002014December Sichuan Xinglida $ 1602014December Shandong Gaosu$ 19025%2014December China Communications Construction $ 7902014December Three Gorges$ 14049%2014December Guanzhou Dongsong $ 620100%2014December Taikang Life $ 3002014December Guodian $ 1502014December Ctrip$ 160100%2014December Yunnan Dongyan $ 13075%, 5%2014December Zhejiang Hengyi $ 3,4402014December CIC$ 1908%2015January Shanghai Greenland $ 3,2202015January Ping An$ 480100%2015January Dalian Wanda$ 790100%2015January Oceanwide Holdings $ 3002015January Shanghai Greenland $ 5302015January Tencent and Renren $ 1002015January Ningbo Joyson $ 11075%2015JanuaryGansu Tianqing $ 1202015January Jiangsu Changjiang,Semiconductor ManufacturingInternational, IC Fund $ 1,660100%2015January Zijin Mining $ 15060%2015January Fosun $ 1,1302015February Anbang $ 1,03063%2015February Anbang$ 1,670100%2015February Dalian Wanda $ 1,19068%2015February CIC $ 1,1902015February Anbang $ 4002015February Huawei$ 1702015February China Launch andTracking Control General $ 3002015February Sunshine Insurance $ 230100%2015February Anhui Zhongding $ 110100%2015FebruarySinomach$ 38075%2015February China Communications Construction$ 1002015February Shanghai Auto and $ 39056%2015March Jinko Solar$ 100100%2015March Geo-Jade Petroleum $ 350100%2015March Geo-Jade Petroleum $ 120100%2015March CITIC $ 73055%2015March Cinda $ 14065%2015March Alibaba $ 2002015March Fosun$ 1405%2015March Geely Auto $ 370100%2015March Hunan TV $ 3802015March Huadian $ 87055%2015March Guodian$ 3802015April Power Construction Corp $ 1,07051%2015April Shandong Iron $ 77075%2015April Fosun$ 30020%2015April China Life and Ping An $ 3302015April China Vanke$ 13051%2015April Fosun $ 38075%2015April Tencent$ 13015%2015April Hua Capital and CITIC $ 1,900100%2015April Cybernaut $ 1002015April SAFE$ 7302015April Yantai Xinchao$ 3202015April CSR $ 190100%2015April AVIC$ 220100%2015May Trina Solar $ 160100%2015MayBYD$ 1002015May China Communications Bank $ 17080%2015May Fosun$ 1,84080%2015May Guangdong Rising Asset Management $ 81080%2015May Zijin Mining $ 41050%2015May Zijin Mining $ 30050%2015May CITIC$ 12080%2015May CITIC$ 12080%2015May Shanghai Shenglong $ 1402015May Shandong Bright Ruby $ 3402015May CIC$ 1,800100%2015May Shanghai Auto $ 28049%2015May Sichuan Hanlong $ 2,7002015May Geely Auto$ 500100%2015May Zhongrun Resources $ 1,9402015May Jumei $ 1302015MayCEFC$ 1005%2015MayChina National Building Material$ 190。
对外投资调查表Excel模板
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对外投资调查表
地位”一栏，“1”表示独资，“2”表示控股，“3”表示参股，“4”表示其他。
底累计实际投入资本数（元）
其他固 土地使 其他无 定资产 用权 形资产
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对外投资调查表
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注：1、截至××年××月底；2、被投资单位（项目）情况和投资收益栏按××年数额填写；3、“资本地位”一栏，“1”表示独资，“
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情况（元）
销售（营 业）收入
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再投资 备注 级次
被投资单位项目全称资本初始投入时间初始投入资本数元资本追加投入时间追加投入资本数元是否报经审批非转截至年月底累计实际投入资本数元资本地位所占股份比例被投资单位实收资本总被投资单位所有者权益总额元被投资单位项目情况交通运输工具通用和专用设备其他固定资产土地使用其他无形资产销售营业收入年实收投资收益累计实收投资收益
ofdi与中国区域经济增长的实证分析
OFDI与中国区域经济增长的实证分析OFDI与中国区域经济增长的实证分析【摘要】近年来我国对外直接投资（OFDI）发展势头突飞猛进，但各地区企业OFDI活跃程度不同，这对我国区域经济发展产生了不同的影响。
本文利用中国26个省（市）2004年到2012年的OFDI数据，建立面板数据回归模型。
通过对东、中、西部OFDI与GDP之间的实证分析，得出OFDI对三个区域经济增长影响有较大差异的结论，并给出相关建议。
【关键词】对外直接投资；区域经济增长；面板数据一、问题的提出随着中国企业对外直接投资（Outward Foreign Direct Investment （OFDI））规模不断扩大，其对中国整体经济增长的正效应在以往的研究中并不匮乏，那么对中国区域经济增长的影响如何呢？在此背景下，继外商直接投资之后，OFDI与区域经济增长问题逐渐成为新的研究热点。
但对该问题的研究一直以来有一个被忽略的问题，就是OFDI作用于整体经济增长的同时，我们并没有考虑到中国不同区域OFDI活跃性不同这个特殊性，因此，本文尝试从东、中、西部三个区域的角度研究OFDI与经济增长的关系，并得出相关的结论。
二、模型构建本文选取了中国26个省（市）2004-2012年的OFDI数据以及GDP 数据来构建面板数据模型，并且将26个省（市）分为东部、中部、西部三个区域来分别进行回归分析。
面板数据计量经济模型在实际研究中常用的panel data回归模型是固定效应模型（FEM）和随机效应模型（REM）。
在实证研究中一般通过对数据的Hausman检验来确定选用何种模型。
固定效应模型可表示为：yit=ai+Xit+uit。
利用F检验来进行模型设定检验，以此确定面板数据分析模型。
首先用Chow检验的F统计量F1检验是否接受零假设；若拒绝零假设，再进行第二步检验。
公式如下：F2=[（RRSSURSS）/N1]/[URSS/（NTNK+1）]～F[N1，N（T1）K+1] 其中，RRSS、URSS分别表示有约束模型（即混合数据回归模型）和无约束模型ANCOVA估计的残差平方和或者是LSDV估计的残差平方和。
负责任的国际投资：ESG与中国OFDI
负责任的国际投资：ESG与中国OFDI一、本文概述随着全球经济的深度融合和持续发展，国际投资在推动全球经济增长、促进技术进步、增加就业和提升生活水平等方面发挥着越来越重要的作用。
然而，与此国际投资也面临着诸多挑战，其中包括环境、社会和治理（ESG）问题。
这些问题不仅影响着投资项目的长期可持续发展，也关系到投资国和被投资国的经济、社会和环境福祉。
本文旨在探讨负责任的国际投资，特别是中国在对外直接投资（OFDI）中如何更好地融入ESG理念。
我们将首先分析ESG在国际投资中的重要性，以及当前中国OFDI在ESG方面的现状和挑战。
然后，我们将探讨如何在投资决策、项目管理和风险评估等各个环节中有效融入ESG原则，以实现负责任的投资行为。
我们将提出一些具体的建议和措施，以促进中国OFDI在ESG方面的进一步提升，为全球经济的可持续发展做出贡献。
通过本文的研究和讨论，我们希望能够为投资者、政策制定者和相关利益方提供有价值的参考，推动国际投资向着更加负责任、可持续的方向发展。
二、ESG与负责任的国际投资随着全球化和经济一体化的深入发展，国际投资活动日益频繁，跨国企业的影响力也在不断扩大。
然而，投资活动在推动经济发展的也可能带来一系列的环境、社会和治理（ESG）问题。
因此，负责任的国际投资（Responsible International Investment，简称RII）逐渐成为国际社会关注的焦点。
负责任的国际投资强调企业在海外投资过程中，不仅要追求经济利益，还要充分考虑投资活动对环境、社会和治理的影响，确保投资行为的可持续性和合规性。
ESG理念正是负责任的国际投资的重要体现，它要求企业在投资决策中融入环境、社会和治理三个维度的考量，以确保投资活动符合可持续发展原则。
环境（E）维度主要关注投资活动对环境的影响，包括减少碳排放、提高能源效率、推动绿色能源等方面。
社会（S）维度则强调企业在投资过程中要关注对当地社区、员工和消费者权益的影响，确保投资行为符合社会公正和道德标准。
中国企业对外直接投资OFDI数据Excel格式(2005-2019)： Troubled Transactions问题合同
China © Data Dataset YearMonthChinese EntityQuantity in Millions2005July CNOOC$18,0002006July China Mobile $5,3002006July CNPC $1,3902006July CNPC$2,5002006JulyChina Ocean Shipping $1402006September CNOOC$16,0002006October Southern Power Grid $1902006November Chinalco$7902006November China Railway Construction $7,4502006December Jinchuan $1,0002007January Minmetals $5002007March Sinopec $3,4002007April Gezhouba $1,4402007April Sinopec$1102007April China Merchants $1,0002007May TCL $3002007JuneCNOOC $3702007September China Development Bank, Jilin Fuhua Agricultural Science and Technology $4,1302007September Tianye Auto, Chamco $3002007November Perfect Field $1,7502007December ChemChina$1,3102008January China Development Bank $2,0002008February ZTE $3002008March CITIC $1,0002008March Sinoma $2,5702008March Huawei $6002008April Shougang$3602008AprilGreat Wall Technology $3002008September Shandong Energy$1,2102008September China Development Bank $13,9002008September SAFE $1002008September Ping An $3,0002008September Minmetals $1,4502008October CIC $1,9702008November Ping An $2,7002008December Chinalco$6,8902009January China Development Bank $1,7802009January Zijin Mining $1,4002009January Baosteel$2,8802009January Shanghai Auto $5202009February Minmetals $3502009March Dongfang$5202009March 10 property companies $5202009April Bright Foods $1,4802009April Sinosteel $1,5002009June Chinalco $19,5002009August Ex-Im Bank $3,0002009September CNPC$4602009September Sinopec and CNPC $1,3002009September China Nonferrous$2202009October State Construction Engineering $1802009November A-Power$9002009November Minsheng Bank $1202009December CITIC $1402010January State Development and Investment Corp$1,2002010February Sichuan Tengzhong $1502010March Tonghua Iron and Steel $8702010May Haier $9102010May CIC$5502010June State Grid $1,2002010July Chinalco $2,2002010July Chinalco $1,3502010July Zijin Mining $5002010July Huawei $4802010August CIC $6902010August Huawei$1,3002010August China Railway Construction $7902010September MCC $3702010September CIC$3602010September Zijin Mining$2802010October Wuhan Iron and Steel$8002010October China Railway Construction $6202010October HNA$3802010November Huawei and ZTE$5,0002010December China National Nuclear $3502010December Sinomach $1,4302011March Bright Foods $2,4102011March Sinohydro $1,8002011March Sinomach $6002011March Gezhouba $8402011March MCC$8202011March China Communications Construction $1,9102011March State Construction Engineering $2,6802011March China Railway Construction $3,5502011May Hawtai Motor $1702011June CNPC $5,3902011June Sinosteel$1,9902011June China Railway Engineering and MCC $4002011June China Railway Engineering $4502011JulyAnshan$1702011September China Power Investment $3,6002011September Sinohydro $5602011October Anshan$1702011October Sichuan Hanlong $1502011October AVIC$5002011October China Railway Engineering $3202011November CNOOC $7,1002011November Zhongkun $2002011December HNA$4402011December Pang Da and Youngman $1402011December Sinomach$1,3002012January Sichuan Hanlong $1302012January China Metallurgical$1702012January Jiangling Motors and Jiangxi Coal $5602012February Sinomach $3,0002012March Sinomach $5102012April Sinohydro $2,0002012April Sinomach $6902012May CNPC$4702012June Ming Yang$1902012June China Communications Construction $1402012June Yankuang $1,2402012July CNPC$4,7002012July Power Construction Corp $1002012July Power Construction Corp, Sinomach,and Harbin Electric $8802012August Zhonghui $6802012August Three Gorges $1,2002012September Chinalco $9302012September Chinalco$3102012October Beijing Superior Aviation $1,7902012October China Energy Engineering $4002012October Sinomach $4202012October JAC Motors$3902012November China Communications Construction $3002012December Minmetals $6802013January Sany Heavy$4902013January Sichuan Hanlong $1,1802013April China Mobile $6002013May Ex-Im Bank $1,0002013May Fosun $7402013June CNPC $6502013July Norinco$3102013July MCC and Jiangxi Copper $2,8702013July China Railway Engineering $3002013August Sinopec $2,0002013August CNPC $1,7702013August Sinosteel $1002013August New China Trust, China Aviation Industrial Fund, and P3$4,2302013September Sinopec$1002013September Cathay Fortune $1302013November CNPC $2202013December Yankuang $7402013December China Railway Construction and China Railway Engineering $9902014January Sinopec$4002014February Great Wall Motors $3002014March Sinopec$1,6002014March China Communications Construction $4902014April CNPC $2,5002014April State Grid$1,4602014May New Times Truest led group $4202014May MCC$8902014June Sinomach $1,2602014June Sinomach $2902014June Jianxi Corporation for Interntaional Economic and Technical Cooperation $4002014July CNPC $2602014July ZTE $2102014August Sinopec$1,8502014August China Railway Engineering $7602014August Power Construction Corp, China Railway Construction $2702014September Tianjin Materials $9902014September Fosun$1,2002014September Beijing Auto$1802014October China Power Investment $1102014October CNPC$4002014October Shanghai Electric$9302014December Shandong Electric Power $5902014December ZTE $8002014December CITIC$6,9002015January Ministry of Commerce$1802015January China Communications Construction $1,5002015January Sinomach and China Energy Engineering $2,3302015January China Railway Engineering $7,5002015February Sinopec $1,2002015February China Railway Engineering and Sinomach$2502015February China Railway Construction $3,7002015March CNOOC$8302015March China Communications Construction $1,4302015April Hanergy$1,0002015May Power Construction Corp$6302015June State Construction Engineering $3,5002015June Sinomach $3802015JuneSinopec $8502015September CIC $1,4002015September ICBC $6102015September CITIC$1,8002015October State Construction Engineering $6802015November CIC $2502015December Fosun $7402015December CIC$3202015December Tianan Insurance$5902015December Shandong Taishan Sunlight $5402016January Ansteel $1,0902016January GSR$2,8002016January Liaoning Fortone $7102016February Tsinghua Unigroup $3,7802016February AVIC$6502016February Power Construction Corp $3102016March Fosun$4602016April Tsinghua Unigroup $1,7002016April Shanghai Pengxin$2302016April Sichuan Guodong Construction$2902016May Guangdong Rising Assets Management $1,8002016May Zoomlion$3,400 2016May Everbright and Baofeng$660 2016June Sinopec$1,500 2016June Luxshare Precision$120 2016July Qihoo and Beijing Kunlun$620 2016July Fosun$220 2016August State Grid$7,600 2016August CITIC$380 2016August San'an Optoelectrinics$230 2016August Zhongwang$2,330 2016September Shandong Delisi's$100 2016September Orient Securities$1,280 2016October Anbang Insurance$780 2016October Fujian Construction Engineering$100 2016October Fujian Grand Chip$740 2016October State Grid$930 2016October Shenhua's Watermark$390 2016November Tsinghua$370 2016November Anbang$1,570 2016November LeEco$1,000 2016November Beijing Xinwei Technology$290 2016December Anhui Xinke New Materials$350 2016December Minmetals$550 2016December Shandong Gold$120 2017January Tsinghua$600 2017January Alibaba$1,810 2017January HNA$180 2017January iCarbonX$120 2017February CITIC$800 2017March Sino-Europe Sports$280 2017March Wanda$1,000 2017March CEFC$280 2017April LeEco$2,000 2017April China Energy Engineering$360 2017April China IC Fund$580 2017May China Railway Engineering$680 2017May Tsinghua$200 2017May Fosun$890 2017May Sinopec$190 2017May Sinopec$120 2017June Fujian Yango$560 2017June Shanghai Electric$1,770 2017July HNA$420 2017August Shenzhen Grandland$590 2017September Yitai Capital$1,300 2017September NavInfo and Tencent$170 2017September BlueFocus$420 2017October China Railway Construction$1,060 2017October Fujian Construction Engineering$130 2017November HNA$300 2017November Minsheng Bank$630 2017November Xinyi Glass$4502017December HNA$460 2018January China Communications Construction$2,060 2018March CEFC$910 2018March Wuhan Kaidi Electric$1,100 2018April Oceanwide$2,700 2018May CEFC$9,180 2018May CEFC$500 2018May China Communications Construction$1,170 2018May Sequoia Resources$100 2018June CNPC$2,470 2018June GSR$1,000 2018June CEFC$350 2018August HNA$270 2018August Shenzhen Energy$230 2018August CNPC$2,290 2018August Sanpower$640 2018October Beijing Auto$270 2018October State Construction Engineering$150 2018December China Orient$200 2018December Geely Auto$3,290 2018December Guizhou Transportation Planning$710 2019February Fosun$100 2019March Beijing Kunlun$150 2019May Sino Great Wall$1,380Transaction Party Sector Subsector CountryUnocal Energy USAMillicom Technology Telecom Luxembourg KazMunaiGaz Energy Gas Kazakhstan Rosneft Energy Gas Russian Federation Burg Transport Shipping NetherlandsEnergy Gas IranEnergy Hydro Cambodia Vietnam National Coal-Mineral Industries Metals Aluminum VietnamTransport Rail NigeriaPhilnico Metals Steel PhilippinesMetals CubaSonangol Energy Oil AngolaEnergy Hydro Nigeria 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对外直接投资研究以为例
对外直接投资研究以为例一、概述随着全球化的深入发展和中国经济的崛起，对外直接投资（OFDI）已成为中国企业“走出去”战略的重要组成部分。
对外直接投资不仅是企业寻求国际市场、优化资源配置、分散经营风险的重要手段，也是推动国家经济增长、促进国际经济交流和技术合作的重要途径。
本文旨在通过对对外直接投资的研究，探讨其发展趋势、动因、影响及面临的挑战，以期为相关政策制定和企业国际化战略提供理论支持和实践指导。
本文首先对对外直接投资的基本概念进行界定，明确其内涵和外延。
在此基础上，梳理对外直接投资的发展历程和现状，分析其在全球经济格局中的地位和作用。
接着，从理论层面探讨对外直接投资的动因，包括资源寻求、市场寻求、效率寻求、战略资产寻求等，并结合中国企业的实际情况进行案例分析。
同时，本文还将关注对外直接投资对母国和东道国的经济影响，包括产业结构升级、就业效应、技术进步等。
本文还将探讨对外直接投资面临的挑战和问题，如投资风险、文化差异、政策环境等，并提出相应的对策建议。
通过本文的研究，我们期望能够为中国企业更好地开展对外直接投资活动提供有益的参考和启示。
1. 对外直接投资（OFDI）的定义和重要性对外直接投资（Outward Foreign Direct Investment，简称OFDI）是指一国的企业或个人通过在国外直接建立企业、收购企业股份或参与企业管理等方式，将资本、技术、管理经验等生产要素投入到外国市场，从而获取经营控制权或参与经营管理的投资行为。
这种投资方式不仅涉及资金流动，更涵盖了技术、管理、市场等多个方面的跨国经营。
OFDI的重要性体现在多个方面。
OFDI是企业实现国际化经营、拓展海外市场的重要手段。
通过OFDI，企业可以直接进入目标市场，深入了解当地需求，提升品牌影响力和市场份额。
OFDI有助于企业获取先进技术和管理经验。
通过投资海外先进企业，企业可以接触到更先进的技术和管理方法，提升自身的竞争力。
国有企业ofdi、资源错配与技术创新
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实证分析结果
OFDI有助于改善资源错配，提高资源配 置效率，进而促进企业技术创新和经济增 长。
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OFDI与技术创新
技术创新的定义与重要性
技术创新定义
技术创新是指企业通过研发、改进技术或引 入新设备等方式，创造新产品、新工艺或提 供更优质服务的过程。
技术创新的重要性
技术创新是企业保持竞争力的关键因素，能 够提高生产效率、降低成本、拓展市场，从 而为企业创造更多价值。
未来研究可以拓展技术创新在 产业升级、区域发展等方面的 应用，为推动经济高质量发展 提供更有力的理论支撑和实践 指导。
加强国际比较和借鉴
通过比较和借鉴国际先进企业 的经验做法，进一步优化国有 企业的管理体制和经营机制， 提高企业核心竞争力和国际影 响力。
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OFDI对技术创新的促进作用
获取先进技术和管理经验
通过OFDI，企业可以进入发达国家市场，与当地企业合作或收购当地企业，从而获取 先进的生产技术和管理经验，提升自身技术水平。
扩大市场份额和品牌影响力
OFDI可以帮助企业拓展国际市场，扩大市场份额，提高品牌知名度和影响力，从而增 加企业的竞争力。
促进企业转型升级和产业升级
技术创新水平对国有企业 OFDI决策的影响
拥有较高技术创新水平的企业更有可能通过 对外直接投资来拓展国际市场和技术合作，
进一步提升技术创新能力。
国有企业OFDI、资源错配与技术创新的综合效应分析
国有企业OFDI、资源错配与技术创新之间的相互作用关系
国有企业OFDI、资源错配和技术创新三者之间存在相互影响和促进的关系，共同决定 了企业的国际竞争力和发展潜力。
研究展望
中国对“一带一路”沿线国家OFDI的产业升级效应检验
第21卷第1期2021年1月Vol.21,No.1Mar.,2021南京工程学院学报(社会科学版)Journal of Nanjing Institute of Technology(Social Science Edition)dot:10.13960/j.issn.2096-238X.2021.01.013投稿网址：中国对'一带一路（沿线国家OFDI的产业升级效应检验冯跃，夏辉，裴玉（南京工程学院经济与管理学院，江苏南京,211167）摘要：随着"一带一路”倡议的推进，中国对“一带一路”沿线国家的直接投资逐年增长，对外投资与国内产业结构转型升级之间的关系也备受关注。
选取2006—2019年的数据，利用计量经济模型对中国对“一带一路”沿线国家直接投资的产业结构升级效应进行检验，结果表明，中国对“一带一路”沿线国家OFDI对中国制成品进出口占比产生正向溢出，对中国初级产品进出口占比产生负向溢出，即中国对“一带一路”沿线国家OFDI促进了中国产业结构的高级化。
关键词：中国；一带一路;对外直接投资;产业结构转型升级中图分类号:F830.593；F062.92019年中国对外直接投资（outward foreign direci investment,即OFDI）流量为1369.1亿美元，存量达到21988.8亿美元，占全球当年流量和存量的10.4%和6.4%,分别位列全球排名第2位和第3位。
在全球经济形势低迷之际，中国对外开放水平不断提升,对外直接投资仍然是中国对外开放的主要形式。
“一带一路”倡议将贯穿欧亚非大陆的60多个国家联系起来，东起活跃的东亚经济圈，西至发达的欧洲经济圈，中间是经济发展潜力巨大的广大腹地国家，形成当今世界最大的新兴区域经济合作区。
2015中国正式发布《推动共建丝绸之路经济带和21世纪海上丝绸之路的愿景与行动》（以下简 称《愿景与行动》），标志着“一带一路”宏大行动规划进入了全面推进阶段。
OFDI逆向技术溢出研究综述
OFDI逆向技术溢出研究综述作者：宋青松陈汉林来源：《合作经济与科技》2019年第06期关键词：OFDI;逆向技术溢出;技术创新;技术进步中图分类号：F83 文献标识码：A收录日期：2019年1月8日Arrow（1962）最早使用外部性来解释技术溢出效应，他认为拥有高技术的企业通过研发活动提高自身生产率的同时，由于溢出效应使得外部厂商也能够通过学习来提高自身的生产率。
由于溢出的种类很多，主要有知识溢出、人力资本溢出以及技术溢出等。
本文关注的重点是OFDI的逆向技术溢出。
逆向技术溢出一般是指发展中国家的企业向发达国家的企业通过绿地投资或跨国并购的方式参与到高端产业链中，从而能够接触到发达国家先进的研发资源、智力因素、管理经验，进而实现东道国的技术向母国的扩散和溢出。
中国的对外开放政策实施以来，中央和地方政府对引进外资十分重视，已经有较多国内学者研究发现FDI对中国有重要的技术溢出作用。
相比较于外商直接投资（FDI），中国的对外直接投资（OFDI）起步较晚。
近年来，随着“一带一路”倡议的提出，中国加快了OFDI的步伐。
因此，越来越多的学者开始重视OFDI逆向技术溢出问题的研究。
从目前的文献来看，OFDI逆向技术溢出问题的研究主要围绕OFDI逆向技术溢出的机制、逆向技术溢出效应的影响因素、逆向技术溢出效应的技术进步效应和技术创新效应展开。
目前，关于逆向技术溢出的实现形式主要有三种机制：第一种机制是海外研发溢出机制，该机制认为研发活动是技术溢出的主要源泉。
Kogut and Chang（1991）的研究表明日本的海外OFDI集中于美国，由于研发活动的要素、人员以及成果可以在一定范围内共享，所以OFDI 的逆向技术溢出促进了日本的技术进步;第二种机制是经营成果反馈机制。
该机制认为许多跨国公司通过在海外设立分公司学习海外的先进管理经验、知识技术可以间接地促进母公司的技术水平;第三种机制是内部整合机制。
越来越多的跨国公司为了获得海外公司的先进技术通常采取海外并购，但由于受当地政策的约束，不能直接获得其核心技术，只能通过循序渐进的整合方式获得其先进技术，一个典型的案例就是万向集团。
FDI对我国企业OFDI的影响
一、引言改革开放40多年来，我国对外经济发展取得了举世瞩目的成就，“引进来”与“走出去”比翼齐飞，一方面我国优越的投资政策、发达的基础设施和巨大的消费潜力吸引越来越多的外国投资者进驻我国，另一方面，我国的综合实力不断加强，加入世界贸易组织、提出“一带一路”倡议等使我国更好地融入全球经济链条中，国内企业在资本积累、技术创新等方面有了长足进步，根据商务部统计，2018年我国对外直接投资存量已经接近2万亿美元，全球排名上升至第三位。
“引进来”与“走出去”之间是否存在关联？“引进来”是否促进了“走出去”？从国内外现有文献看，大多数学者是将FDI （外商直接投资）和OFDI （对外直接投资）分开来研究，鲜有研究二者引致关系的文献。
对于二者之间联系机制的问题主要基于邓宁（1981）的投资发展周期论展开，其认为国际直接投资的流入流出水平会随着经济发展动态变化，一国的经济发展与吸引外资的扩大会引发对外直接投资。
随后，学者们对FDI 促进OFDI 的作用机制进行了研究。
Narula 和Guimón(2010)认为必须关注经济发展背后的、更深层次的因素，从广义层面理解FDI 对OFDI 的路径机制；郑展鹏和刘海云（2012）基于要素禀赋及其结构角度从实证研究层面研究FDI 与OFDI 之间关系；尹达（2019）通过建立二分因变量的中介效应模型，解释FDI 与OFDI 的关联机制，结果表明FDI 可通过生产率溢出提高企业生产水平进而推动企业OFDI 扩张；张生保、林雄立和王晓珍（2020）外资研发嵌入、技术创新表现与对外直接投资的理论逻辑框架，认为外资的研发嵌入显著促进了中国对外直接投资。
二、研究基本思路与方法1.研究思路考虑到FDI 与OFDI 的增长本身存在很复杂的相互影响关系，本研究从邓宁的投资发展周期理论出发，研究视角基于宏观层面的外商直接投资（FDI ）、国民生产总值（GDP ）、外汇储备（FEX）、汇率（ER）与出口额（EX）等对中国对外直接投资的影响机制。
中国对外直接投资的风险评估指标体系及模型构建
中国对外直接投资的风险评估指标体系及模型构建一、本文概述随着中国经济实力的不断增强，中国对外直接投资（OFDI）已经成为推动全球经济发展的重要力量。
然而，伴随着对外直接投资的扩大，风险也随之增加。
因此，构建一个科学、合理的风险评估指标体系及模型，对于准确评估中国对外直接投资的风险，保障投资安全，提升投资效益具有重要意义。
本文旨在探讨中国对外直接投资的风险评估指标体系及模型构建。
我们将对中国对外直接投资的现状和特点进行深入分析，明确风险评估的必要性和紧迫性。
接着，我们将系统地梳理和归纳现有研究中关于对外直接投资风险评估的理论基础和指标体系，分析其优缺点，为构建新的风险评估指标体系提供理论支撑。
在此基础上，我们将结合中国对外直接投资的实际情况，构建一个包含宏观经济风险、政治风险、法律风险、市场风险、技术风险等多维度、多层次的风险评估指标体系。
我们将运用定性和定量相结合的方法，建立一个基于该指标体系的风险评估模型，以实现对投资风险的全面、客观、量化评估。
我们将通过案例分析等方式，对所构建的风险评估指标体系和模型进行实证检验，验证其有效性和适用性。
通过本文的研究，我们希望能够为中国对外直接投资的风险管理提供有力的理论支撑和实践指导，推动中国对外直接投资健康、可持续发展。
二、中国对外直接投资概况随着中国经济的快速发展和综合国力的显著提升，中国对外直接投资（OFDI）已经成为全球资本流动的重要组成部分。
近年来，中国OFDI规模持续扩大，投资领域不断拓宽，投资主体日益多元化，投资方式也更加灵活多样。
据商务部、国家统计局和国家外汇管理局联合发布的《中国对外直接投资统计公报》显示，中国OFDI流量和存量均保持快速增长势头，对全球经济增长和贸易发展的贡献不断增强。
中国OFDI主要流向了能源、基础设施、制造业、金融业等领域。
其中，能源和基础设施投资是中国OFDI的重要组成部分，主要集中在非洲、亚洲和拉丁美洲等发展中国家和地区。
FDI与OFDI的技术溢出效应对提高我国技术水平的影响
FDI与OFDI的技术溢出效应对提高我国技术水平的影响作者：余慧来源：《经济研究导刊》2015年第22期摘要：外商直接投资和对外直接投资是国际R&D溢出的两条重要渠道。
主要利用我国1987—2012年的有关FDI和OFDI的数据，通过Stata17.0统计软件工具对其进行相关性分析，结果显示，FDI对我国的技术进步就有负相关关系，OFDI对我国的技术进步整体来说还是成比较显著的正相关关系。
二者的交互作用对我国的R&D和我国的专利申请授权数会有正有负，对技术的进步的影响还是不能太早地下定论。
关键词：FDI;OFDI;技术溢出;逆向知识溢出;技术水平中图分类号：F74 ; ; ; ;文献标志码：A 文章编号：1673-291X（2015）22-0185-04一、文献梳理外商直接投资（FDI，Foreign Direct Investment）和对外直接投资（OFDI，Outward Foreign Direct Investment）是国际R&D溢出的两条重要渠道。
近年来，随着经济全球化和知识经济的迅猛发展，越来越多的国家尤其是发展中国家通过FDI和OFDI获取国外先进知识技术、促进本国的技术进步和经济增长。
对FDI的研究大都基于FDI的技术溢出效应，国内外的学者也在此基础上做了大量的研究，如Blomstrom 和Persson（1983）、Blomstrom和Wolff（1994）、Aitken和Harrison （1999）、Keller和Yeaple（2003）、何洁（2000）、沈坤荣和耿强（2001）、潘文卿（2003）等。
结论也大都趋于一致：FDI具有技术溢出效应，对东道国的技术进步具有正向的影响关系，外商直接投资渠道的国外R&D存量显著提升了我国全要素生产率。
关于OFDI 对技术进步具有母国效应的研究也最先源于国外学者对发达国家OFDI的研究。
20 世纪90 年代，Kogut 和Chang（1991）[1]发表的《技术能力与日本在美国的对外直接投资》最早发现了OFDI 存在逆向技术溢出效应。
中国OFDI逆向技术溢出效应的影响因素研究——基于国别面板数据的非线性门槛技术回归
中国OFDI逆向技术溢出效应的影响因素研究——基于国别面板数据的非线性门槛技术回归韩玉军;王丽【摘要】本文首先对对外直接投资逆向技术溢出效应的机理进行了分析,然后以2003-2013年中国对外直接投资的13个主要发达国家的数据为样本,考察了中国对外直接投资逆向技术溢出效应的影响因素.本文的实证结果发现,中国与东道国之间的技术差距、东道国研发(R&D)支出、全要素生产率、人力资本、技术创新能力、制度环境是对外直接投资逆向技术溢出效应的正相关因素.同时,本文以技术差距作为门槛变量进行门槛效应检验,结果表明,技术差距存在单一门槛值,当中国与东道国之间技术差距较大时,技术差距对逆向技术溢出产生了正向影响;当技术差距缩小后,正相关关系仍然存在,但影响程度有所下降.【期刊名称】《经济理论与经济管理》【年(卷),期】2015(000)006【总页数】12页(P94-105)【关键词】对外直接投资(OFDI);逆向技术溢出;门槛效应【作者】韩玉军;王丽【作者单位】中国人民大学经济学院,100872;中国人民大学经济学院【正文语种】中文近年来，随着中国改革开放不断深化，中国企业“走出去”步伐不断加快，对外直接投资数量呈现稳步上升的趋势，中国企业对外投资的行业及地区日趋广泛。
《2013年度中国对外直接投资统计公报》显示，中国企业投资分布在全球184个国家和地区，2012年中国对外直接投资流量达1 078.4亿美元，占全球对外直接投资量的7.6%，成为继美国和日本之后的世界第三大对外投资国，对外直接投资存量位居全球第11位。
投资是国际技术溢出的主要渠道之一，中国对外直接投资具有“战略资产寻求”的特征，对外直接投资是获得发达国家知识、技术和技能(know-how)的重要途径。
[1]对于中国对外直接投资逆向技术溢出效应影响因素的研究，不仅具有重要的学术意义，而且对我国学习国外先进技术，加快我国产业结构转型和升级也具有重要意义。
我国OFDI、进出口贸易与技术进步关系分析（范本）
我国OFDI、进出口贸易与技术进步关系分析我国O FDI、进出口贸易与技术进步关系分析我国OF DI、进出口贸易与技术进步关系分析面对全球经济复苏缓慢和不断涌现的技术和环境等新贸易保护主义措施，在经济结构转型过程中研究我国当前OFDI对技术进步的贡献率和影响现状，出口贸易、进口贸易与我国技术进步的关系，对突破发达国家对我国的核心技术限制，解决市场进入壁垒问题，缩短新产品开发周期，提高我国企业自主创新和研发能力，获取国际竞争优势具有重大意义。
研究概述 OFDI逆向技术溢出方面，潘素昆和杨慧燕（201X）认为逆向技术溢出效应存在性的验证中没有考虑滞后效应，没有深入分析吸收能力怎样影响溢出效应。
郭飞和黄雅金（201X）构建了OF DI逆向技术溢出效应的技术互动、技术传递和技术吸收三角循环传导模型。
周春应（201X）发现我国O FDI存在正的逆向技术溢出效应。
OF DI对技术创新的影响方面：F rano和L eonini（201X）分析结果显示一国创新能力和效率的提高由内部和外部因素共同决定。
王恕立与李龙（201X）实证检验结果显示我国自主创新能力和OFDI直接存在长期稳定均衡关系，OFDI对我国自主创新能力有显著促进作用，但有滞后性。
Li an和Ma（201X）认为我国通过对外直接投资的增加加强了与其他国家的联系，加速与世界经济一体化进程。
实证研究（一）数据来源和变量选取根据我国1985-201X年的相应经济统计数据，从实证分析的角度分析我国OFDI、进出口贸易与技术进步的相互关系。
选取三个变量我国研发经费支出RD，专利授权总量PT，发明专利授权总量PTI来衡量技术进步，影由响因素分别是对外直接投资水平，以我国对外直接投资流量O FDI表示；经济开放度，以我国进出口总额占GDP的比重OP EN表示；金融发展水平，用麦金农指标（广义货币国内生产总值）（M2GDP）计算，以F L表示；我国贸易出口额和进口额为出口、进口贸易变量，分别表示为EX和IM。
外商直接投资.xls
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中国企业对外直接投资区位选择基于QCA方法的联动效应研究
中国企业对外直接投资区位选择基于QCA方法的联动效应研究一、本文概述随着全球经济的深度融合和我国“走出去”战略的深入实施，中国企业对外直接投资（OFDI）的规模和范围不断扩大，成为推动我国经济高质量发展的重要力量。
然而，企业在选择对外直接投资的区位时，面临着复杂的国内外环境和多种因素的影响，如何科学合理地选择投资区位，成为了理论和实践的重要课题。
本文旨在运用定性比较分析（QCA）方法，深入研究中国企业对外直接投资区位选择的联动效应。
文章将系统梳理中国企业对外直接投资的发展历程和现状，分析区位选择的主要影响因素和现有研究的不足。
通过QCA方法，构建区位选择的理论框架和分析模型，探究各影响因素之间的联动关系和作用机制。
结合实证数据，对理论模型进行验证和优化，提出针对性的政策建议和实践指导。
本文的研究不仅有助于深化对中国企业对外直接投资区位选择机制的理解，也有助于提升我国企业在全球化背景下的竞争力和可持续发展能力。
本文的研究方法和结论也可为其他领域的研究提供借鉴和参考。
二、文献综述随着中国经济的快速发展和全球化进程的推进，中国企业对外直接投资（OFDI）的区位选择问题逐渐成为国内外学者研究的热点。
区位选择不仅关乎企业海外投资的成功与否，也是决定其国际竞争力的重要因素。
因此，深入探讨中国企业OFDI的区位选择问题具有重要的理论和实践意义。
现有文献对企业OFDI区位选择的研究主要集中在两个方面：一是基于传统投资理论的宏观因素分析，如政治风险、市场规模、资源禀赋等；二是基于企业异质性理论的微观因素分析，如企业规模、技术水平、所有权结构等。
然而，这些研究往往忽略了宏观和微观因素之间的联动效应，即不同层面的因素如何相互作用、共同影响企业的区位选择。
近年来，定性比较分析（QCA）方法作为一种新的研究方法，逐渐在社会科学领域得到广泛应用。
QCA方法以案例为导向，强调对案例的深入剖析和比较，能够更好地揭示不同因素之间的复杂关系。
中国OFDI与国内投资：相互替代抑或促进
由此可 见，现 有 研 究 已 针 对 中 国 ＯＦＤＩ与 国 内 投资之间的 潜 在 关 系 进 行 了 初 步 探 讨，得 到 了 许 多 有益的结论，但 仍 存 在 有 待 完 善 之 处：第 一，现 有 研 究主要集中于分析 ＯＦＤＩ对国内投资的单向影响，而 — ７６ —
ＯＦＤＩ作为一国 资 本 参 与 国 内 和 国 际 两 个 市 场 配 置 的 过 程 ，与 国 内 投 资 相 互 影 响 ，仅 考 虑 单 向 影 响 的 局 部分析不能 反 映 两 者 关 系 的 全 貌。 在 模 型 估 计 方 面，仅考虑单向 影 响 的 实 证 过 程 可 能 会 面 临 着 严 重 的 内 生 性 问 题 ，影 响 估 计 结 果 的 精 确 度 。 因 此 ，有 必 要在更广的视角下全面和 深 入 地 考 察 ＯＦＤＩ和 国 内 投资之间潜在 的 双 向 互 动 关 系，以 克 服 仅 考 察 单 向 影响可能 引 起 的 偏 差。第 二，现 有 研 究 分 别 采 用 流 量或存量指 标 来 度 量 ＯＦＤＩ对 应 于 考 察 ＯＦＤＩ与 国 内投资之 间 的 增 量 效 应 或 考 虑 时 滞 影 响 的 累 积 效 应 ，而 由 于 两 种 度 量 的 侧 重 点 不 同 ，故 不 能 全 面 地 考 察两者之间的 互 动 关 系，而 本 文 综 合 考 虑 流 量 和 存 量两个方面来分析中国 ＯＦＤＩ和 国 内 投 资 之 间 的 互 动 效 应 ，作 为 现 有 研 究 文 献 的 补 充 。 第 三 ，现 有 研 究 较少考虑东道国经济发展 的 异 质 性 对 ＯＦＤＩ与 国 内 投资之间 关 系 的 影 响，中 国 ＯＦＤＩ的 区 域 覆 盖 面 很 广，特别是考虑 到 在 不 同 发 展 水 平 国 家 的 投 资 动 机 往往不同，无疑会对 ＯＦＤＩ与国内投资之间的关系产 生影响。因此，有 必 要 考 虑 东 道 国 经 济 发 展 异 质 性 的影响来更加细致和全面 地 考 察 和 理 解 ＯＦＤＩ和 国 内投资之间的关系。 国 内 投 资 拉 动 经 济 和 ＯＦＤＩ的 持续扩张是中国经济转型过程中的两大典型特征， 深入探讨两者 之 间 的 相 互 影 响 对 于 中 国 实 施 “走 出 去”战略具有重要的现实意义。鉴于此，本文将 ＯＦ－ ＤＩ与国内投资纳 入 一 个 统 一 的 分 析 框 架，采 用 面 板 数据 ＶＡＲ 模型从 流 量 和 存 量 两 个 方 面 实 证 分 析 两 者之间的双向互动效应，同时，基于系统 ＧＭＭ 方法 估计模型来克服潜在的内生性问题；进一步将 ＯＦＤＩ 的东道国分为 发 达 国 家 和 发 展 中 国 家 两 类，深 入 考 察东道国经济发展的异质 性 对 ＯＦＤＩ与 国 内 投 资 之 间潜在互动关 系 的 影 响，以 期 通 过 更 为 全 面 精 确 地 分 析 为 中 国 实 施 “一 带 一 路 ”发 展 战 略 和 深 化 对 外 开 放相关政策的制定提供借鉴。
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China Global © Data Dataset 2Year Month Contractor Quantity inMillions Share Size2005January Sinohydro $ 1002005February Sinohydro $ 1502005February Sinohydro $ 3702005March Sinoma $ 1702005April Sinomach $ 1002005April Minmetals, MCC $ 2402005May CNPC $ 3902005June Sinomach, Sinohydro $ 8602005June MCC $ 1702005June China Railway Construction, $ 1,2702005July CITIC, Sinohydro $ 1302005September Sinopec $ 35045% 2005October China Nonferrous $ 3002005October China Communications Construction $ 2002005November Norinco $ 1202005November CITIC $ 1,1902005December Sinohydro $ 2102005December CITIC $ 4302005December CITIC, China Aluminum $ 9002005December China Communications Construction $ 2102005December Sinoma $ 5802005December China National Nuclear $ 4902006January State Construction Engineering $ 3002006January Norinco $ 3102006February Sinohydro $ 5402006March Sinomach $ 4602006April Sinopec $ 1,2902006May Shandong Electric Power $ 1,5002006May China Power Energy Consulting $ 1102006May CITIC, China Railway Construction $ 6,2502006June Tebian Electric Apparatus $ 4002006June Sinoma $ 2602006June Weihai $ 1602006June Jiangsu International $ 1702006July Dongfang Electric $ 33055% 2006July Sinopec $ 2,8402006July China Communications Construction $ 3002006July State Construction Engineering $ 2602006September ZTE, Huawei, and ChinaCommunications Construction $ 2,4002006September Huawei $ 550 2006November CNPC $ 430 2006November China National Chemical $ 180 2006November CITIC $ 340 2006November Genertec $ 220 2006November China Communications Construction $ 490 2006December Harbin Electric $ 5202006December Huadian $ 250 2006December Shanghai Electric $ 260 2006December Sinoma $ 130 2006December Sinohydro $ 1302007January Shandong Electric PowerConstruction $ 3,9902007January MCC $ 1,110 2007January State Construction Engineering $ 350 2007January State Construction Engineering $ 160 2007January Chinalco $ 1002007February Shanghai Shengong, ShanghaiMunicipal Government $ 1002007February Gezhouba $ 180 2007March Genertec $ 430 2007March China National Chemical $ 540 2007March State Construction Engineering $ 4302007March Sinohydro and ChinaCommunications Construction $ 3602007March Sinomach $ 110 2007April Sinomach, Sinohydro $ 650 2007April Sinohydro $ 600 2007April Sinomach, China Nonferrous $ 3,990 2007May CNPC $ 150 2007May Sinohydro $ 2400.7 2007May Sinomach $ 150 2007May China Railway Construction $ 820 2007May China National Building Material $ 250 2007June CNPC $ 560 2007June Sinohydro $ 1,700 2007June Sinoma $ 370 2007June China Communications Construction $ 410 2007July China Communications Construction $ 250 2007July CITIC $ 110 2007August Dongfang Electric, Shanghai Electric $ 1,270 2007August Southern Power Grid $ 340 2007August MCC $ 640 2007September Sinomach $ 210 2007September Huawei $ 150 2007September Three Gorges $ 150 2007October Sinomach $ 160 2007October Gezhouba $ 2100.49 2007October China Nonferrous $ 1100.2 2007October Sinoma $ 170 2007October China Electronics Corporation $ 1000.5 2007October Sinomach $ 610 2007November Guizhou Hongfu $ 350 2007November China Communications Construction $ 230 2007December CNPC $ 1,310 2007December CNPC $ 880 2007December Shanghai Electric $ 1,080 2007December Sinohydro $ 160 2007December Sinohydro $ 120 2007December CITIC $ 6202007December Sinohydro $ 140 2007December China Railway Construction $ 1,830 2008January MCC $ 200 2008January China Communications Construction $ 290 2008January China Communications Construction $ 160 2008January Jiangsu International $ 180 2008February China Railway Construction $ 2,600 2008February CNPC $ 560 2008February Sinoma $ 1,180 2008March China National Building Material $ 160 2008March China Railway Engineering $ 100 2008March China Railway Engineering $ 260 2008April Three Gorges $ 100 2008April Sinomach $ 640 2008April Sinohydro, Three Gorges $ 400 2008April Three Gorges $ 160 2008May Sinohydro $ 1502008May China National ChemicalEngineering, Genertec $ 9002008May Sinohydro $ 100 2008May State Construction Engineering $ 2,140 2008May Sinoma $ 130 2008May China National Building Material $ 170 2008May MCC $ 290 2008June MCC $ 200 2008June China National Building Material $ 110 2008June CITIC $ 2,940 2008June Shanghai Electric $ 1,310 2008July Sinomach $ 140 2008July Sinomach $ 120 2008July Chinalco $ 460 2008July Guangdong Overseas Construction $ 610 2008July MCC $ 520 2008July China Communications Construction $ 990 2008July China Communications Construction $ 440 2008August Sinomach $ 240 2008August Jiangsu International $ 110 2008August SEPCO III $ 140 2008August Shanghai Tunnel Engineering $ 310 2008September China Communications Construction $ 220 2008September Genertec $ 330 2008October Three Gorges-led consortium $ 880 2008October Sinohydro $ 280 2008October Three Gorges $ 160 2008October MCC $ 150 2008October Sinoma $ 210 2008October Sinoma $ 440 2008October ZTE $ 400 2008October China Communications Construction $ 680 2008October Sinomach $ 200 2008October Sinohydro $ 1402008November Sinohydro $ 250 2008November Sinohydro $ 400 2008November Zhongmei Engineering $ 120 2008November Three Gorges $ 320 2008November China Communications Construction $ 160 2008December CNPC $ 3,290 2008December Datang $ 370 2008December State Construction Engineering $ 260 2008December China Communications Construction $ 200 2009January Sinohydro $ 100 2009January Sinohydro $ 160 2009January Sinomach $ 300 2009January China National Chemical $ 440 2009January State Construction Engineering $ 440 2009January State Construction Engineering $ 230 2009January Huawei $ 240 2009January Sinohydro $ 220 2009February Sinomach $ 140 2009February Sinomach $ 580 2009February China Railway Construction $ 3900.21 2009February China Communications Construction $ 100 2009February China Communications Construction $ 1,130 2009February China Railway Construction $ 1,160 2009February Three Gorges $ 180 2009February China Communications Construction $ 260 2009March Sinomach $ 100 2009March Sinohydro $ 390 2009March Sinoma $ 140 2009March State Construction Engineering $ 410 2009March Sinomach $ 170 2009April Huaneng $ 4300.93 2009April Sinopec $ 350 2009May MCC $ 1,860 2009May Sinohydro $ 150 2009May Huawei $ 200 2009May China Railway Engineering $ 350 2009June Sinomach $ 890 2009June Sinomach $ 670 2009June China Railway Construction $ 2,570 2009June Sinohydro $ 640 2009June China Railway Engineering $ 160 2009July Sinohydro $ 2,4202009July Shandong Electric Power, DongfangElectric $ 1,6502009July Genertec $ 270 2009July Three Gorges $ 110 2009July China Railway Construction $ 530 2009July China National Building Material $ 110 2009July China National Building Material $ 120 2009August Gezhouba $ 210 2009August Sinomach $ 190 2009August State Construction Engineering $ 2602009August Sinohydro $ 140 2009August MCC, China Architecture Design $ 180 2009August Sinoma $ 400 2009August Shandong Electric Power $ 720 2009September Gezhouba $ 450 2009September China Communications Construction $ 120 2009September Shandong Electric Power $ 810 2009September Huawei $ 4900.7 2009October Shanghai Electric $ 1,380 2009October Sinoma $ 140 2009October Sinoma $ 140 2009October China Communications Construction $ 960 2009October China Railway Construction $ 850 2009October China Communications Construction $ 100 2009October China Communications Construction $ 100 2009October Norinco $ 610 2009October Norinco $ 210 2009October Sinohydro $ 430 2009November Sinomach $ 970 2009November Harbin Electric $ 600 2009November Huawei $ 180 2009November China Communications Construction $ 610 2009November China Communications Construction $ 210 2009November State Construction Engineering $ 100 2009November Sinomach $ 120 2009November Sinopec $ 160 2009December Sinomach $ 310 2009December CNPC $ 3,130 2009December Gezhouba $ 100 2009December China Poly $ 100 2009December Sinohydro $ 170 2009December China Communications Construction $ 500 2010January China Communications Construction $ 130 2010January Wuhan Kaidi Electric $ 2000.45 2010January Gezhouba $ 600 2010January ZTE $ 380 2010January Three Gorges $ 110 2010January Norinco $ 4602010February Gezhouba, Xinjiang InternationalEconomic Cooperation $ 7302010February Gezhouba $ 220 2010February China Communications Construction $ 140 2010February Three Gorges $ 120 2010February China National Chemical $ 160 2010March China Poly $ 100 2010March China National Chemical $ 500 2010March Sinopec $ 1,260 2010March Sinomach $ 310 2010March Dongfang Electric $ 1,400 2010March Gezhouba $ 460 2010March Sinohydro $ 640 2010March Sinomach, Gezhouba $ 2,6902010March Sinomach $ 320 2010March Sinomach $ 420 2010March Huawei $ 200 2010March Sinohydro $ 100 2010March Sinomach $ 1,200 2010April CNOOC $ 180 2010April Three Gorges $ 840 2010April Guangdong Power Engineering $ 270 2010April Sinomach $ 360 2010April Sinohydro $ 200 2010April Sinoma $ 780 2010April Three Gorges $ 180 2010April China Communications Construction $ 170 2010April China Communications Construction $ 260 2010April Genertec $ 280 2010May Sinohydro $ 1,040 2010May Shandong Electric Power $ 1,7200.7 2010May Dongfang Electric $ 500 2010May Sinohydro $ 4002010May Rongsheng Holding, China NationalChemical Engineering $ 1,9902010May Sinomach $ 100 2010May Sinoma $ 200 2010May Sinoma $ 140 2010May MCC $ 840 2010June Sinomach $ 1,680 2010June Sinohydro $ 2,300 2010June Three Gorges $ 210 2010June Beijing Construction Engineering $ 130 2010June Sinohydro $ 1700.5 2010June China Communications Construction $ 320 2010July Dongfang Electric $ 710 2010July Sinomach $ 2,470 2010July Sinomach $ 160 2010July Sinohydro $ 110 2010August Norinco $ 1,500 2010August Sinomach $ 100 2010August Gezhouba $ 570 2010August China Machine New Energy $ 700 2010August China National Building Material $ 250 2010August Sinoma $ 140 2010August China Communications Construction $ 130 2010September Sinohydro $ 180 2010September Sinomach $ 960 2010September MCC $ 340 2010September Sinohydro $ 100 2010September Sinomach $ 110 2010September Sinomach $ 290 2010September Three Gorges $ 110 2010September Sinomach $ 200 2010October Genertec $ 1102010October Sinohydro $ 1,500 2010October Sinohydro $ 130 2010October Sinomach $ 750 2010October Sinomach $ 610 2010October Sinomach $ 290 2010October MCC $ 570 2010October Huawei $ 970 2010October Three Gorges, Sinohydro $ 240 2010October China Communications Construction $ 400 2010October China Communications Construction $ 220 2010October Guangxi Road and Bridge $ 100 2010November China National Chemical $ 270 2010November Huadian $ 170 2010November Harbin Electric $ 450 2010November Sinomach $ 280 2010November Gezhouba $ 800 2010November China Communications Construction $ 220 2010December Sinomach $ 220 2010December Gezhouba $ 290 2010December Wuhan Kaidi Electric $ 650 2010December Sinomach $ 340 2010December Datang $ 1,400 2010December Sinohydro $ 260 2010December Hydrochina $ 1,150 2010December Sinomach $ 230 2010December Three Gorges $ 2500.4 2010December Sinohydro $ 380 2010December Sinohydro $ 320 2010December Sinomach $ 900 2010December Sinomach $ 740 2010December Sinoma $ 110 2010December Sinoma $ 300 2010December Sinoma $ 140 2010December ZTE $ 400 2010December Sinomach $ 220 2010December China Communications Construction $ 100 2010December China Communications Construction $ 160 2010December China Communications Construction $ 280 2011January Sinohydro $ 720 2011January State Construction Engineering $ 450 2011January Huawei $ 2602011January Guangdong Changda HighwayEngineering $ 1802011January China Communications Construction $ 100 2011January China Communications Construction $ 880 2011January China Communications Construction $ 810 2011January China Communications Construction $ 100 2011January China State Shipbuilding $ 190 2011January CITIC $ 1,470 2011February MCC $ 2600.5 2011February China Railway Engineering $ 330 2011March Ansteel $ 1,0802011March Shandong Electric Power $ 300 2011March Tebian Electric Apparatus $ 330 2011March China National Building Material $ 100 2011March China National Building Material $ 100 2011March State Construction Engineering $ 150 2011March Shengli Engineering-led consortium $ 350 2011March State Construction Engineering $ 300 2011March China Communications Construction $ 210 2011March Sinomach $ 2702011March Anhui Foreign EconomicConstruction $ 1002011April Sinomach $ 160 2011April Gezhouba $ 170 2011April Genertec $ 8300.5 2011April Huadian $ 1,490 2011April Shanghai Electric $ 1,010 2011April Sinomach $ 280 2011April Sinomach $ 860 2011April State Construction Engineering $ 2202011April Zhongding InternationalConstruction $ 3002011April State Construction Engineering $ 200 2011April Sinohydro $ 170 2011April Sinomach $ 180 2011April Sinomach $ 1,060 2011April State Construction Engineering $ 450 2011April China National Building Material $ 1800.5 2011April Three Gorges $ 100 2011April China Nonferrous $ 100 2011April Sinopec $ 100 2011April Norinco $ 5902011May China Dalian International Economic& Technical $ 1002011May Gezhouba $ 990 2011May Three Gorges $ 200 2011May Sinomach $ 2,370 2011June Sinomach $ 250 2011June Hydrochina $ 120 2011June Sinomach $ 1,160 2011June Sinomach $ 1,500 2011June CNPC $ 170 2011June Gezhouba $ 270 2011June State Construction Engineering $ 7002011June Anhui Foreign EconomicConstruction $ 1002011June Genertec $ 600 2011June State Construction Engineering $ 180 2011June Sinohydro $ 1,440 2011June Sinomach $ 220 2011July Tebian Electric Apparatus $ 390 2011July MCC $ 240 2011July China Railway Engineering $ 2002011July Sinopec $ 200 2011July Beijing Enterprises $ 330 2011August Sinomach $ 150 2011August China Communications Construction $ 100 2011August Sinopec $ 1302011August China National ChemicalEngineering, Dongfang Electric, andChina Energy Engineering $ 1,3002011August Three Gorges $ 450 2011August Sinohydro $ 270 2011August China Railway Construction $ 340 2011September Power Construction Corp $ 1500.5 2011September CNPC $ 5000.5 2011September Power Construction Corp $ 160 2011September China Nonferrous $ 930 2011September Henan Guoju $ 4402011September Jiangxi International Economic andTechnical Cooperation $ 1002011September China Communications Construction $ 220 2011September China Communications Construction $ 320 2011September Sinomach $ 2402011September State Development and InvestmentCorp $ 5902011September CITIC $ 1,690 2011September China National Chemical $ 640 2011September Gezhouba $ 110 2011October Sinomach $ 240 2011October Sinomach $ 340 2011October Power Construction Corp $ 220 2011October Three Gorges $ 110 2011October Three Gorges $ 240 2011October State Construction Engineering $ 120 2011October State Construction Engineering $ 140 2011October State Construction Engineering $ 110 2011October State Construction Engineering $ 120 2011October China Communications Construction $ 260 2011October Beijing Urban Construction $ 280 2011November Sinomach $ 180 2011November China Communications Construction $ 460 2011November Power Construction Corp $ 240 2011November Minmetals $ 110 2011November Genertec $ 1,080 2011November Sinosteel, Power Construction Corp $ 100 2011November State Construction Engineering $ 200 2011November China Communications Construction $ 140 2011November China Communications Construction $ 140 2011November China Railway Construction $ 400 2011November China Electronics Corporation $ 180 2011December Harbin Electric $ 480 2011December Harbin Electric $ 100 2011December Sinopec $ 8502011December Power Construction Corp $ 130 2011December Sinoma $ 260 2011December China Railway Engineering $ 740 2011December China National Building Material $ 350 2011December State Construction Engineering $ 110 2011December China Railway Construction $ 5,630 2011December Weihai $ 150 2011December MCC $ 820 2011December China Communications Construction $ 490 2012January China Energy Engineering $ 1,400 2012January China Electronics Corporation $ 100 2012January Power Construction Corp $ 440 2012January Minmetals $ 170 2012February China Railway Construction $ 940 2012February Three Gorges $ 270 2012February Sinomach $ 100 2012February Power Construction Corp $ 300 2012February Sinoma $ 240 2012February State Construction Engineering $ 1,500 2012February Huawei $ 350 2012February China Communications Construction $ 400 2012February Three Gorges $ 350 2012February China Railway Construction $ 510 2012February China Energy Engineering $ 160 2012February Sinomach $ 310 2012February Dongfang Electric $ 740 2012March Sinomach $ 170 2012March China Energy Engineering $ 900 2012March Dalian Shipbuilding $ 320 2012March State Grid $ 550 2012March Three Gorges $ 180 2012March Power Construction Corp $ 510 2012March Power Construction Corp $ 1,420 2012March Sinoma $ 210 2012March China Communications Construction $ 2902012March State Development and InvestmentCorp $ 2202012April Sinopec $ 850 2012April Power Construction Corp $ 250 2012April Sinomach $ 230 2012April State Construction Engineering $ 1,200 2012April China Railway Construction $ 1400.5 2012April China Communications Construction $ 3202012April China Railway Engineering $ 2702012May Huadian $ 1,300 2012May Three Gorges $ 200 2012May Sinomach $ 100 2012May Power Construction Corp $ 100 2012May China National Chemical $ 2,950 2012May Shanghai Construction $ 1202012May Norinco $ 1,250 2012June Power Construction Corp $ 100 2012June Three Gorges $ 360 2012June Wison $ 6300.31 2012June Sinomach $ 170 2012June State Construction Engineering $ 170 2012June State Construction Engineering $ 100 2012June China Communications Construction $ 160 2012June China Communications Construction $ 1,580 2012June China Communications Construction $ 200 2012June China Nonferrous $ 110 2012June Sinopec $ 150 2012July Sinomach $ 200 2012July State Construction Engineering $ 1,750 2012July Three Gorges $ 210 2012July State Grid $ 1,310 2012July China Railway Engineering $ 360 2012July China Communications Construction $ 460 2012July Jiangxi Zhongmei $ 590 2012July China Communications Construction $ 730 2012July China Communications Construction $ 120 2012July China Communications Construction $ 280 2012July China Communications Construction $ 2,660 2012July China Communications Construction $ 200 2012July Beijing Shenwu $ 420 2012July Beijing Shenwu $ 180 2012August China Energy Engineering $ 500 2012August Three Gorges $ 300 2012August Sinopec $ 140 2012August China Energy Engineering $ 130 2012August State Construction Engineering $ 230 2012August Sinomach $ 190 2012August Sinomach $ 120 2012September Sinomach $ 310 2012September China Railway Engineering $ 510 2012September Sinoma $ 190 2012September China Communications Construction $ 730 2012September China Communications Construction $ 160 2012September China Communications Construction $ 700 2012September China Communications Construction $ 150 2012September Sinomach $ 210 2012September CNPC $ 2,920 2012September CNPC $ 2,040 2012September CNPC $ 150 2012September Harbin Electric $ 230 2012September Power Construction Corp $ 130 2012October Sinomach $ 320 2012October Shanghai Electric $ 200 2012October China Energy Engineering $ 2102012October MCC $ 2,290 2012October China Railway Construction $ 150 2012October China Communications Construction $ 660 2012October China Communications Construction $ 1,150 2012October Sinomach $ 100 2012October Yuanda $ 150 2012November Shanghai Electric $ 9900.33 2012November Power Construction Corp $ 650 2012November State Construction Engineering $ 110 2012November Sinoma $ 210 2012November Huawei $ 500 2012November China Communications Construction $ 480 2012November China National Chemical $ 340 2012November Tebian Electric Apparatus $ 350 2012December CNPC $ 9000.5 2012December MCC $ 1,4802012December Tebian Electric Apparatus, PowerConstruction Corp $ 8002012December State Construction Engineering $ 140 2012December China Railway Engineering $ 140 2012December China Communications Construction $ 400 2012December Sinosteel $ 690 2013January China National Chemical $ 1,100 2013January China Communications Construction $ 3000.8 2013January Power Construction Corp $ 250 2013January Power Construction Corp $ 570 2013January China Nonferrous $ 710 2013January State Construction Engineering $ 320 2013January Sinomach $ 130 2013January State Construction Engineering $ 110 2013January China Communications Construction $ 850 2013January Three Gorges $ 3902013January China Henan InternationalCooperation $ 2102013January State Construction Engineering $ 160 2013January Three Gorges $ 260 2013January China Communications Construction $ 930 2013January Three Gorges $ 150 2013January Three Gorges $ 100 2013January China Energy Engineering $ 130 2013February Power Construction Corp $ 350 2013February Sinomach $ 250 2013February State Construction Engineering $ 400 2013February Genertec $ 460 2013March State Construction Engineering $ 110 2013March Power Construction Corp $ 300 2013March Sinoma $ 120 2013March State Construction Engineering $ 120 2013March Shanghai Construction $ 250 2013March State Construction Engineering $ 1002013March State Development and InvestmentCorp $ 6802013March China Senyang InternationalEconomic and TechnicalCooperation Corp $ 1002013March China Poly $ 200 2013April China Energy Engineering $ 180 2013April Sinomach $ 220 2013April Huawei $ 750 2013April ZTE $ 480 2013April Huawei $ 1,300 2013April Jiangsu International $ 150 2013April China Communications Construction $ 480 2013April State Grid $ 1,460 2013April China Energy Engineering $ 600 2013April Power Construction Corp $ 130 2013May Sinomach $ 230 2013May Harbin Electric $ 2,400 2013May China Energy Engineering $ 5600.33 2013May Power Construction Corp $ 240 2013May Minmetals $ 250 2013May Sinomach $ 130 2013May State Construction Engineering $ 130 2013May China Communications Construction $ 120 2013May China Energy Engineering $ 280 2013June Sinomach $ 650 2013June Sinomach $ 140 2013June Sinomach $ 100 2013June Sinomach $ 650 2013June Three Gorges $ 110 2013June Power Construction Corp $ 120 2013June State Construction Engineering $ 240 2013June Shandong Gaosu $ 3300.19 2013June China Communications Construction $ 140 2013June China Communications Construction $ 600 2013June China Railway Engineering $ 4602013June Jiangxi International Economic andTechnical Cooperation $ 3902013June Sinosteel $ 290 2013July Three Gorges $ 120 2013July Power Construction Corp, Sinopec $ 340 2013July Power Construction Corp $ 360 2013July Power Construction Corp $ 280 2013July Three Gorges $ 560 2013July Harbin Electric $ 600 2013July CNPC $ 550 2013July Sinomach $ 420 2013July Sinomach $ 200 2013July State Construction Engineering $ 160 2013July China Communications Construction $ 500 2013July China Communications Construction $ 100 2013July Three Gorges $ 330 2013July China Communications Construction $ 700 2013July Harbin Electric $ 300 2013July China Energy Engineering $ 250 2013August Power Construction Corp $ 2,7002013August Sinomach $ 220 2013August Power Construction Corp $ 100 2013August Sinomach $ 100 2013August State Construction Engineering $ 290 2013August Sinomach $ 320 2013August Huawei $ 800 2013August China Communications Construction $ 470 2013August Sinomach $ 200 2013August AVIC $ 240 2013August China Communications Construction $ 300 2013September Power Construction Corp $ 1,690 2013September Power Construction Corp $ 1,700 2013September CNPC and CNOOC $ 170 2013September China Communications Construction $ 140 2013September China Communications Construction $ 100 2013September China Communications Construction $ 390 2013September Three Gorges $ 600 2013October China Power Investment $ 400 2013October Power Construction Corp $ 140 2013October Tebian Electric Apparatus $ 690 2013October Three Gorges $ 240 2013October Beijing Construction Engineering $ 2200.2 2013October Sinoma $ 2802013October China Aerospace Science andTechnology $ 3002013October Huawei $ 700 2013October Sinomach $ 170 2013October Sichuan Railway Industry $ 1300.27 2013October China Communications Construction $ 9000.7 2013October Sinomach $ 100 2013October Southern Power Grid $ 3002013October Power Construction Corp, YingliGreen Energy $ 5102013October Harbin Electric, China EnergyEngineering $ 8702013November Ming Yan $ 540 2013November Sinomach $ 130 2013November China Communications Construction $ 170 2013November Sinomach $ 270 2013November China Poly $ 200 2013November China National Building Material $ 190 2013November Sinomach $ 290 2013November China Communications Construction $ 540 2013November Power Construction Corp $ 3700.51 2013November China Communications Construction $ 400 2013November Power Construction Corp $ 150 2013November China Communications Construction $ 510 2013November China Communications Construction $ 300 2013November Sinomach $ 1802013November Sinomach, Hunan ConstructionEngineering $ 4302013November Yuanda $ 120 2013December Sinomach $ 190 2013December China Communications Construction $ 160 2013December Sinoma $ 540 2013December CITIC $ 200 2013December China Railway Construction $ 1,1802013December China Railway Construction, ChinaRailway Engineering $ 2,4602013December China Communications Construction $ 100 2013December China Railway Construction $ 1,190 2013December MCC $ 180 2013December China Communications Construction $ 350 2013December Power Construction Corp, Sinomach $ 1,290 2014January Power Construction Corp $ 240 2014January Sinomach $ 300 2014January China Communications Construction $ 680 2014January China Railway Construction $ 1,450 2014January Sinomach $ 130 2014January Sinoma $ 190 2014January Three Gorges $ 100 2014January Sinomach $ 1002014January Power Construction Corp, ShanghaiConstruction $ 1002014January Genertec $ 210 2014January Tebian Electric Apparatus $ 780 2014February CNPC $ 1,400 2014February Power Construction Corp $ 240 2014February State Grid $ 9700.51 2014February China Nonferrous $ 490 2014February State Construction Engineering $ 520 2014February Power Construction Corp $ 4800.8 2014February Sinomach $ 130 2014February China Communications Construction $ 100 2014February China Communications Construction $ 400 2014February China Communications Construction $ 200 2014February China Communications Construction $ 200 2014February China Communications Construction $ 230 2014March Sinomach $ 250 2014March Three Gorges $ 900 2014March China Communications Construction $ 160 2014March State Construction Engineering $ 710 2014March China Communications Construction $ 1,120 2014March State Construction Engineering $ 210 2014March Beijing Urban Construction $ 1,3000.5 2014March China Communications Construction $ 220 2014March China Energy Engineering $ 390 2014March State Construction Engineering $ 680 2014March Tidfore Heavy $ 710 2014April China Communications Construction $ 100 2014April Sinomach $ 670 2014April Chinalco $ 500 2014April Sinoma $ 180 2014April Sinoma $ 2602014April Power Construction Corp $ 110 2014April State Construction Engineering $ 110 2014April State Construction Engineering $ 230 2014April State Construction Engineering $ 100 2014April China Railway Engineering $ 480 2014April China Communications Construction $ 130 2014April Norinco $ 280 2014April Sinopec $ 190 2014April China Energy Engineering $ 340 2014May China Communications Construction $ 500 2014May Power Construction Corp $ 1,000 2014May Sinomach $ 300 2014May CNPC, Power Construction Corp $ 790 2014May Sinomach $ 180 2014May Sinoma $ 150 2014May China Communications Construction $ 170 2014May Shanghai Shentong $ 290 2014May State Construction Engineering $ 100 2014May Sinomach $ 100 2014May China Communications Construction $ 240 2014May Sinoma $ 300 2014May Tebian Electric Apparatus $ 390 2014May China Railway Engineering $ 120 2014June Power Construction Corp $ 240 2014June State Construction Engineering $ 250 2014June State Construction Engineering $ 590 2014June State Construction Engineering $ 890 2014June China Communications Construction $ 170 2014June Tebian Electric Apparatus $ 220 2014July State Construction Engineering $ 350 2014July CNOOC $ 1,640 2014July CNPC $ 610 2014July State Construction Engineering $ 990 2014July State Construction Engineering $ 190 2014July Sinoma $ 370 2014July China Communications Construction $ 130 2014July Beijing Urban Construction $ 990 2014July Sinomach $ 300 2014July Power Construction Corp $ 2000.5 2014July Sino Great Wall $ 140 2014August Sinomach $ 440 2014August Power Construction Corp $ 130 2014August Sinomach $ 990 2014August Dongfang Electric $ 1,080 2014August China National Chemical $ 240 2014August Sinopec $ 1,330 2014August State Construction Engineering $ 330 2014August China Railway Construction $ 580 2014August China Poly $ 180 2014September Power Construction Corp $ 1,300 2014September Power Construction Corp $ 530。