2002年世界投资报告

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跨国并购和新设投资的比较.

跨国并购和新设投资的比较一、问题的提出《2002年世界投资报告》中显示2001年全球范围内的国际直接投资总值为7350亿美元，而跨国并购总值为5940亿美元（虽然无论是国际直接投资还是跨国并购的总值都比2000年有相当大的下降，但跨国并购在国际直接投资中的主体地位却并没有动摇）。

UNCTAD（联合国贸发会议）于2002年10月24日公布了全球直接投资的预测数字，预计2002年全球国际直接投资额为5340亿美元（比2001年下降27%），但由于中国持续推动企业结构调整和市场开放，以及由加入WTO所带来的促进作用，国际直接投资会继续流入到中国的技术含量高的制造业以及服务行业。

预计中国吸收的国际直接投资会达到500亿美元，从而成为世界上国际直接投资的最大流入国（美国预计2002年流入国际直接投资440亿美元）。

但是应该看到，由于我国政策的限制，国际直接投资进入我国一般都是采用新设投资的方式，《2002年世界投资报告》中显示，2001年我国吸收了468.8亿美元的国际直接投资，但只有不到5%是通过跨国并购的方式进入我国的，其余的都是采用新设投资方式。

从2002年11月3日开始后不到10天内，国家有关部门相继出台了《关于向外商转让上市公司国有股和法人股有关问题的通知》、《合格境外机构投资者境内证券投资管理暂行办法》和《利用外资改组国有企业暂行规定》等三个重要文件。

这些文件和证监会此前已经发布的《外资参股基金管理公司设立规则》和《外资参股证券公司设立规则》相结合，使得我国资本市场的开放领域形成了从入世协议框架下的证券业和基金业的开放，到外资直接参与国有产权和非流通股权的并购转让市场，再到允许合格的境外机构投资者直接投资A股市场等渐次展开的全方位开放局面，我国资本市场的每一个环节和组成部分基本上为外资的进入建立了政策通道。

UNCTAD(2000)认为以下几种因素可以解释跨国公司对跨国并购的偏好：一是跨国并购可以获得东道国的战略性资产，如商标、特许经营权、专利、专有技术以及当地的分销渠道等；二是直接到海外去并购资产可以迅速地渗透到当地的市场，这样可以在跨国公司激烈的争夺海外市场的竞争中抢得先机。

中国企业对外直接投资的现状分析_刘筱芬

46中国企业对外直接投资的现状分析刘筱芬（兰州商学院工商管理学院甘肃兰州 730020）摘要：在经济全球化、知识经济、网络经济，以及中国已成为WTO 成员国的大环境下，如何加快实施“走出去”步伐，缓解国内资源短缺矛盾、推动产业结构调整、扩大出口、增强国际竞争力是我国企业面临的新课题。

本文在总结我国企业对外直接投资的发展现状和优势的基础上，概括分析我国对外直接的模式，在投资规模加快增长的同时，有力地促进了国民经济的发展。

关键词：对外直接投资；跨国公司；跨国经营中国企业的对外直接投资企业跨国经营并不是单纯意义上的“跨出国门，走向世界”。

越来越多的企业发现，在经济全球化的浪潮中，它们所面临的国际竞争并不是在遥远的异国他乡，而是在自己的生长发展的本地市场，也就是在自己的家门口。

改革开放的20多年来，数千亿美元的外资涌入中国，在中国直接生产和销售，这既给中国经济带来了巨大的活力，也给技术和管理相对落后、受旧体制约束较大的许多原来的国有骨干企业造成了巨大的压力。

对这类企业来说，经营国际化在很大程度上首先意味着如何在本地市场迎接世界竞争的问题。

因此，经营国际化可以分为“外向型”和“内向型”两类，或者说，经营国际化有“引进来”和“走出去”两条道路。

上海汽车厂和德国大众公司合资生产桑塔纳轿车，对前者而言是内向型国际化，而对后者而言则是外向型国际化。

首都钢铁公司投资购买秘鲁铁矿，开采经营，是典型的外向型国际化。

下表列出了外向型和内向型经营国际化的典型形式。

外向型和内向型经营国际化的典型形式外向型内向型贸易形式出口进口技术转让形式技术出让购买技术专利合资合营国外合营公司国内合营公司独立跨国投资在国外建子（分）公司或兼并国外企业成为国外跨国公司的分支机构在我国改革开放的前20年里，主要进行的是内向型的经营国际化，即引进国外的资金和技术，参与国际经济大循环。

从引进消费品到引进设备、技术，再到引进资金、人才、管理乃至全套的外部企业。

联合国贸发会议《2003世界投资报告》概述英文版

United Nations Conference on Trade and DevelopmentWorld Investment ReportUnited NationsNew York and Geneva, 20032003FDI Policies for Development:National and International PerspectivesOverviewUNCTAD/WIR/2003 (Overview)NoteUNCTAD serves as the focal point within the United Nations Secretariat for all matters related to foreign direct investment and transnational corporations. In the past, the Programme on Transnational Corporations was carried out by the United Nations Centre on Transnational Corporations (1975-1992) and the Transnational Corporations and Management Division of the United Nations Department of Economic and Social Development (1992-1993). In 1993, the Programme was transferred to the United Nations Conference on Trade and Development. UNCTAD seeks to further the understanding of the nature of transnational corporations and their contribution to development and to create an enabling environment for international investment and enterprise development. UNCTAD's work is carried out through intergovernmental deliberations, technical assistance activities, seminars, workshops and conferences.The term "country" as used in this study also refers, as appropriate, to territories or areas; the designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. In addition, the designations of country groups are intended solely for statistical or analytical convenience and do not necessarily express a judgement about the stage of development reached by a particular country or area in the development process. The reference to a company and its activities should not be construed as an endorsement by UNCTAD of the company or its activities.The boundaries and names shown and designations used on the maps presented in this publication do not imply official endorsement or acceptance by the United Nations.The following symbols have been used in the tables:Two dots (..) indicate that data are not available or are not separately reported.Rows in tables have been omitted in those cases where no data are available for anyof the elements in the row;A dash (-) indicates that the item is equal to zero or its value is negligible;A blank in a table indicates that the item is not applicable, unless otherwise indicated;A slash (/) between dates representing years, e.g., 1994/95, indicates a financialyear;Use of a hyphen (-) between dates representing years, e.g., 1994-1995, signifiesthe full period involved, including the beginning and end years;Reference to "dollars" ($) means United States dollars, unless otherwise indicated;Annual rates of growth or change, unless otherwise stated, refer to annual compoundrates;Details and percentages in tables do not necessarily add to totals because of rounding.The material contained in this study may be freely quoted with appropriate acknowledgement.UNCTAD/WIR/2003 (Overview)iiAcknowledgementsThe World Investment Report 2003(WIR03) was prepared —under the overall direction of Karl P. Sauvant — by a team comprising Americo Beviglia Zampetti, Persephone Economou, Kumi Endo, Torbjörn Fredriksson, Masataka Fujita, Kálmán Kalotay, Michael Lim, Padma Mallampally, Abraham Negash, Hilary Nwokeabia, Ludger Odenthal, Miguel Pérez-Ludeña, Kee Hwee Wee, Katja Weigl and Zbigniew Zimny. Specific inputs were prepared by Rory Allan, Victoria Aranda, Douglas van den Berghe, Sirn Byung Kim, Anh-Nga Tran-Nguyen, Jörg Simon, James Xiaoning Zhan and Yong Zhang.Principal research assistance was provided by Mohamed Chiraz Baly, Bradley Boicourt, John Bolmer, Lizanne Martinez and Tadelle Taye. Eva Oskam and Jeroen Dickhof assisted as interns at various stages. The production of the WIR03 was carried out by Christopher Corbet, Lilian Mercado,Lynda Piscopo, Chantal Rakotondrainibe and Esther Valdivia-Fyfe. Graphics were done by Diego Oyarzun-Reyes. WIR03 was desktop published by Teresita Sabico. It was edited by Bruce Ross-Larson and Meta de Coquereaumont.Sanjaya Lall and Peter Muchlinski were principal consultants.The Report benefited from inputs provided by participants in a Global Seminar in Geneva in May 2003, organized in cooperation with the Development Policy Forum of InWEnt on the special topic of WIR03. Participants were Florian Alburo, Sanchita Chatterjee, Benno Ferrarini, Susan Hayter, Yao-Su Hu, Datin Kaziah Abdul Kadir, Nagesh Kumar, Mariano Laplane, Howard Mann, Richard Newfarmer, Farooq Sobhan, M. Sornarajah and Miklos Szanyi.Inputs were also received from Stanimir A. Alexandrov, Lorraine Eden, David Frans, Xing Houyuan, Mark Koulen, Julia Mikerova, Lilach Nachum, Roger Nellist, Assad Omer, Pedro Roffe, Pierre Sauvé, Frank Roger, Len Trevino and Rob van Tulder.Comments and feedback were received during various stages of preparation from Robert Anderson, Audo Araújo Faleiro, Yoko Asuyama, Vudayagiri Balasubramanyam, Maria Borga, Peter Brimble, Philip Brusick, Peter Buckley, José Durán, Richard Eglin, Roderick Floud, Rainer Geiger, Andrea Goldstein, Kathryn Gordon, CharlesiiiGore, Jim Gunderson, Jeffery Heinrich, Barry Herman, Pinfang Hong, Marie-France Houde, Anna Joubin-Bret, Joachim Karl, John Kline, Jesse Kreier, Tatjana Krylova, Sam Laird, Martha Lara, Don Lecraw, Robert Lipsey, Henry Loewendahl, Mina Mashayekhi, Raymond J. Mataloni, Anne Miroux, Hafiz Mirza, Juan Carlos Moreno-Brid, Michael Mortimore, Peter Nunnenkamp, Herbert Oberhänsli, Sheila Page, Antonio Parra, Carlo Pettinato, Craig Parsons, Sol Picciotto, Gwenael Quere, Prasada Reddy, Lorraine Ruffing, Hassan Qaqaya, Maryse Roberts, Patrick Robinson, Rodrigo Sabbatini, Nicolo Gligo Saenz, A. Edward Safarian, Magdolna Sass, Christoph H. Schreuer, Prakash Sethi, Angelika Sitz, Marjan Svetlicic, Taffere Tesfachew, Peter Utting, Thomas Wälde, Jörg Weber, Louis Wells, Gerald West and Christopher Wilkie. Comments were also received from delegates participating in the WTO Working Group on the Relationship between Trade and Investment.Numerous officials of central banks, statistical offices, investment promotion and other government agencies, and officials of international organizations and non-governmental organizations, as well as executives of a number of companies, also contributed to WIR03, especially through the provision of data and other information. Most particularly, they include BusinessMap from South Africa and the participants of the OGEMID network led by Thomas Wälde, and UNCTAD’s network of experts on international investment agreements.The Report benefited from overall advice from John H. Dunning, Senior Economic Advisor.The financial support of the Governments of Germany, Norway, Sweden and the United Kingdom is gratefully acknowledged.ivContentsPage Overview (1)FDI FALLS AGAIN—UNEVENLYGlobal FDI flows fall again in 2002 amid weakeconomic performance (1)Prospects remain dim for 2003, but shouldimprove thereafter (11)Government policies are becoming more open, involvingmore incentives and focused promotion strategies (11)… as well as participation in more investmentand trade agreements (12)Converging patterns of FDI links and investmentand trade agreements are generating mega blocks (14)ENHANCING THE DEVELOPMENT DIMENSION OF INTERNATIONAL INVESTMENT AGREEMENTSTo help attract FDI, countries increasinglyconclude IIAs (15)... which, by their nature, entail a loss of policy space. (18)The challenge for developing countries is to finda development-oriented balance (18)… when negotiating the objectives, structure andimplementation of IIAs (19)... and especially their content . (21)… by making development objectives an integral partof international investment agreements (22)vPageANNEXTable of contents of theWorld Investment Report 2003FDI for Development: National andInternational Perspectives (25)Selected UNCTAD publications on transnationalcorporations and foreign direct investment (29)Questionnaire (41)Figures1.The 30 economies most affected by the downturn, 2002 (3)2.World's top 30 FDI recipients, 2002 (4)3.FDI stocks among the Triad and economies inwhich FDI from the Triad dominates, 2001 (16)Tables1.Selected indicators of FDI and internationalproduction, 1982-2002 (2)2.The world's top 25 non-financial TNCs,ranked by foreign assets, 2001 (5)3.The top 25 non-financial TNCs fromdeveloping economies, ranked by foreign assets, 2001 (6)4.The top 25 non-financial TNCs from Centraland Eastern Europe, ranked by foreign assets, 2001 (7)5.Changes in national regulations on FDI, 1992-2002 (13)viWorld Investment Report 2003FDI Policies for Development: National and International PerspectivesOverviewFDI FALLS AGAIN—UNEVENLYGlobal FDI flows fall again in 2002 amid weak economic performance.Global FDI inflows declined in 2002 for the second consecutive year, falling by a fifth to $651 billion-the lowest level since 1998 (table 1). Flows declined in 108 of 195 economies (see figures 1 and 2 for the economies that experienced the biggest decline, as well as the top recipients). The main factor behind the decline was slow economic growth in most parts of the world and dim prospects for recovery, at least in the short term. Also important were falling stock market valuations, lower corporate profitability, a slowdown in the pace of corporate restructuring in some industries and the winding down of privatization in some countries. A big drop in the value of cross-border mergers and acquisitions (M&As) figured heavily in the overall decline. The number of M&As fell from a high of 7,894 cases in 2000 to 4,493 cases in 2002—and their average value, from $145 million in 2000 to $82 million in 2002. The number of M&A deals worth more than $1 billion declined from 175 in 2000 to only 81 in 2002—again, the lowest since 1998.For the largest transnational corporations (TNCs) most indicators of the size of their foreign operations declined slightly in 2001 (the latest year for which data are available), the beginning of the FDI downturn. Despite the burst of the bubble in the information and communication technology market, there has been no significant shift in the industrial composition of FDI—nor in the ranking of the world's top 100 TNCs (see table 2 for the top 25 of these firms), the top 50 TNCs from developing countries (seeTable 1. Selected indicators of FDI and international production, 1982-2002(Billions of dollars and percentage)World Investment Report 2003FDI Policies for Development: National and International Perspectives2 Value at current prices Annual growth rateItem (Billion dollars) (Per cent)198219902002 1986-1990 1991-1995 1996-20001999200020012002FDI inflows 59 209 65123.121.140.257.329.1-40.9-21.0FDI outflows 28 242 64725.716.535.760.59.5-40.8-9.0FDI inward stock 802 1 9547 12314.79.317.219.418.97.57.8FDI outward stock 595 1 763 6 86618.010.616.818.219.8 5.58.7Cross border M&As.. 151 37025.924.051.544.149.3-48.1-37.7Sales of foreign affiliates 2 737 5 67517 68516.010.110.913.319.69.27.4Gross product of foreign affiliates 640 1 458 3 43717.3 6.77.912.816.214.7 6.7Total assets of foreign affiliates 2 091 5 89926 54318.813.919.220.727.4 4.58.3Export of foreign affiliates 722 1 197 2 61313.57.69.6 3.311.4-3.3 4.2 Employment of foreign affiliates (thousands)19 37524 26253 094 5.5 2.914.215.416.5-1.5 5.7GDP (in current prices)10 80521 67232 22710.8 5.6 1.3 3.5 2.6-0.5 3.4Gross fixed capital formation 2 286 4 819 6 42213.4 4.2 1.0 3.5 2.8-3.9 1.3Royalties and licences fees receipts 9 30 7221.314.3 6.2 5.78.2-3.1..Export of goods and non-factor services 2 053 4 3007 83815.6 5.4 3.4 3.311.4-3.3 4.2Source:UNCTAD, World Investment Report 2003. FDI Policies for Development: National and International Perspectives, table I.1, p. 3.Overview3 table 3 for the top 25 of these firms) and the top 25 TNCs from Central and Eastern Europe (CEE) (table 4).The decline in FDI in 2002 was uneven across regions and countries. It was also uneven sectorally: flows into manufacturing and services declined, while those into the primary sector rose. The equity and intra-company loan components of FDI declined more than reinvested earnings. FDI entering host economies through M&As went down more than that through greenfield projects. Figure 1. The 30 economies most affected by the downturn, 2002 (Decline in absolute amounts of FDI in billions of dollars)Source:UNCTAD, FDI/TNC database./fdistatisticsWorld Investment Report 20034FDI Policies for Development: National and International PerspectivesFigure 2. World's top 30 FDI recipients, 2002(Billions of dollars)Source:UNCTAD, FDI/TNC database./fdistatisticsForeign Foreign TNI aassetsTNI aassetsTNI aCorporationHome economyIndustryForeignTotalForeignTotalForeignTotal (Per cent)113115VodafoneUnited KingdomTelecommunications 187 792 207 458 24 602 32 744 56 430 67 17883.2283273General Electric United States Electrical & electronic equipment180 031 495 210 39 914 125 913 152 000 310 00039.0315724BPUnited Kingdom Petroleum expl./ref./distr. 111 207 141 158 141 225 175 389 90 500 110 15080.5436442Vivendi Universal France Diversified91 120 123 156 29 652 51 423 256 725 381 50466.3582--Deutsche Telekom AG Germany Telecommunications 90 657 145 802 11 836 43 309 78 722 257 05840.0639330Exxonmobil Corporation United States Petroleum expl./ref./distr. 89 426 143 174 145 814 209 417 61 148 97 90064.87853885Ford Motor Company United States Motor vehicles 81 169 276 543 52 983 162 412 188 919 354 43138.4887584General MotorsUnited States Motor vehicles75 379323 96945 256 177 260 148 000 365 00029.8948646Royal Dutch/Shell Group United Kingdom/Netherlands Petroleum expl./ref./distr. 73 492 111 543 72 952 135 211 52 109 89 93959.310211962TotalFinaElf France Petroleum expl./ref./distr. 70 030 78 500 74 647 94 418 69 037 122 02574.911181523Suez France Electricity, gas and water 69 345 79 280 29 919 37 975 128 750 188 05078.21247880Toyota Motor Corporation Japan Motor vehicles 68 400 144 793 59 880 108 808 186 911 246 70259.313631047Fiat Spa Italy Motor vehicles48 749 89 264 24 860 52 002 103 565 198 76451.51452955Telefonica SA Spain Telecommunications 48 122 77 011 14 303 27 775 93 517 161 52757.315511223Volkswagen Group Germany Motor vehicles47 480 92 520 57 426 79 376 157 579 324 41357.416571393ChevronTexaco Corp.United States Petroleum expl./ref./distr. 44 943 77 572 57 673 104 409 35 569 67 56955.317381452Hutchison Whampoa Limited Hong Kong, China Diversified 40 989 55 281 6 092 11 415 53 478 77 25365.618111711News Corporation Australia Media35 650 40 007 13 880 15 087 24 700 33 80084.719442943Honda Motor Co Ltd Japan Motor vehicles35 257 52 056 40 088 55 955 59 000 120 60062.820862377 E.On Germany Electricity, gas and water 33 990 87 755 22 744 71 419 64 285 151 95337.62120184Nestlé SA SwitzerlandFood & beverages33 065 55 821 34 704 50 717 223 324 229 76575.022816186RWE Group jGermany Electricity, gas and water 32 809 81 024 23 15158 03965 609155 63440.823651157IBM United States Electrical & electronic equipment32 800 88 313 50 651 85 866 173 969 319 87650.2243243ABB Switzerland Machinery and equipment 30 586 32 305 18 876 19 382 148 486 156 86595.625353749UnileverUnited Kingdom/ NetherlandsDiversified30 52946 92228 675 46 803204 000 279 00066.5Source: UNCTAD, World Investment Report 2003: FDI Policies for Development: National and International Perspectives , annex table A.I.1.Table 2. The world's top 50 non-financial TNCs, ranked by foreign assets, 2001 a(Millions of dollars and number of employees)Ranking in 2000:Ranking in 2001:Sales aTNI is the abbreviation for "transnationality index". The transnationlity index is calculated as the average of the following three ratios: foreign assets to total assets, foreign sales to total sales and foreign employment to total employment.Employment AssetsTable 3. The top 25 non-financial TNCs from developing economies, ranked by foreign assets, 2001(Millions of dollars and number of employees)Ranking byForeign Assets Sales Employment TNI aassets TNI a Corporation Home economy Industry Foreign Total Foreign Total Foreign Total(Per cent)World Investment Report 2003FDI Policies for Development: National and International Perspectives6 112Hutchison Whampoa Limited Hong Kong, China Diversified40 98955 281 6 09211 41553 47877 25365.6 211Singtel Ltd.Singapore Telecommunications15 59419 108 1 362 4 05417 57421 53565.6 39Cemex S.A.Mexico Non-metalic mineral products12 64516 282 4 390 6 73017 44925 51970.4 422LG Electronics Inc.Korea, Republic of Electrical & electronic equipment11 56120 30410 00922 52821 01742 51250.3 541Petróleos De Venezuela Venezuela Petroleum expl./ref./distr.7 96457 54219 80146 250 5 48046 42522.8 642Petronas - Petroliam NasionalBerhad Malaysia Petroleum expl./ref./distr.7 87737 933 5 35917 681 4 00625 72422.2 745New World Development Co., Ltd.Hong Kong, China Diversified 4 71516 253565 2 93380026 10017.1 84Neptune Orient Lines Ltd.Singapore Transport and storage 4 674 4 951 2 970 4 73710 41211 77781.8 916Citic Pacific Ltd.Hong Kong, China Diversified 4 1847 798 1 109 2 2127 35411 73355.51014Jardine Matheson Holdings Ltd Hong Kong, China Diversified 4 0807 166 6 2979 41362 629110 00060.31128Samsung Electronics Co., Ltd.Korea, Republic of Electrical & electronic equipment 3 84041 69225 11237 15523 95373 68236.4122Guangdong Investment Ltd.Hong Kong, China Diversified 3 694 4 042854932 6 8697 64191.0135Shangri-La Asia Ltd.Hong Kong, China Hotels and motels 3 606 4 56545856013 03316 50079.91410Sappi Ltd.South Africa Paper 3 463 4 504 3 223 4 18410 42918 23170.41546Hyundai Motor Company Korea, Republic of Motor vehicles 3 21033 216 6 94333 199551691 95812.2168Flextronics International Ltd.Singapore Electrical & electronic equipment 2 983 4 115 5 363 6 6915073470 00075.01713City Developments Ltd.Singapore Hotels 2 870 6 454857 1 30211 45714 33763.41844Samsung Corporation Korea, Republic of Electrical & electronic equipment 2 8009 400 5 80032 300.. 4 16417.41926China National Chemicals,Imp. & Exp. Corp.China Diversified 2 788 4 9289 14516 1653507 95039.22018South African Breweries Plc South Africa Food & beverages 2 785 4 399 2 433 4 36415 45033 23055.22134América Móvil Mexico Telecommunications 2 32310 137919 4 3857 14214 78630.72231Perez Companc Argentina Petroleum expl./ref./distr. 2 154 6 244471 1 655 1 182 3 42732.5233Guangzhou InvestmentCompany Ltd.Hong Kong, China Paper 2 129 2 55936243312 92013 12088.42449Taiwan Semiconductor Taiwan ProvinceManufacturing Co Ltd.of China Electrical & electronic equipment 2 03310 446... 3 751..13 6697.0251First Pacific Company Limited Hong Kong, China Electrical & electronic equipment 2 007 2 046 1 852 1 85247 99848 04699.3 Source:UNCTAD, World Investment Report 2003. FDI Policies for Development: National and International Perspectives, annex table A.I.2.a TNI is the abbreviation for "transnationality index". The transnationlity index is calculated as the average of the following three ratios: foreign assets to totalassets, foreign sales to total sales and foreign employment to total employment.Overview7Table 4. The top 25 non-financial TNCs from Central and Eastern Europe, ranked by foreign assets, 2001(Millions of dollars and number of employees)Ranking by ForeignAssets Sales EmploymentTNI a assets TNI a Corporation Home country Industry Foreign Total Foreign Total Foreign Total (Per cent)110Lukoil Oil Co.Russian Federation Petroleum and natural gas 5 830.015 859.08 771.014 892.013 000140 00035.024Novoship Co.Russian Federation Transport 998.9 1 133.6 302.3392.1 85 6 97655.531Latvian Shipping tvia Transport .. 491.2.. 172.9 1 313 1 76277.745Pliva GroupCroatia Pharmaceuticals 281.1 967.6 477.3 632.2 2 9007 20848.3525Hrvatska Elektroprivreda d.d.Croatia Energy 272.0 2 357.0 8.0 775.0-15 071 4.262Primorsk Shipping Co.Russian Federation Transport 267.3 437.9 114.9 145.7 1 305 2 62963.277Gorenje Group Slovenia Domestic appliances 231.5 486.1 475.4 661.3 6708 18642.686Krka d.d.Slovenia Pharmaceuticals 190.8 476.6 235.4 296.0 595 3 52045.5915Far Eastern Shipping Co.Russian Federation Transport 123.0 377.0 101.0 318.0 233 5 60822.81021Mercator d.d.Slovenia Retail trade 112.7 868.5 53.0 1 171.5 1 27913 6928.91120MOL Hungarian Oil and Gas Plc.Hungary Petroleum and natural gas 95.9 3 243.2 819.2 3 850.0 77615 2189.81214Podravka GroupCroatia Food and beverages/pharmaceuticals 69.3357.2 134.3 303.5 790 6 88525.01322Petrol Group Slovenia Petroleum and natural gas 66.9 478.4 80.0 1 122.8 24 1 5727.5143Zalakerámia Rt.Hungary Clay product and refractory 65.0 120.0 39.0 64.0 1 889 2 92159.91519Richter Gedeon Ltd.Hungary Pharmaceuticals 55.9 496.5 43.5 309.6 884 5 00714.31611Malév Hungarian Airlines Ltd.b Hungary Transport 41.4 187.0 299.0 383.4 49 2 95233.91717Intereuropa d.d.Slovenia Trade 34.0 200.0 25.0 163.0 662 2 23020.71812Lek d.d.Slovenia Pharmaceuticals 28.1 332.4 219.7 281.2 252 2 66332.01924Petrom SA National Oil Co.b Romania Petroleum and natural gas 28.0 3 151.0 303.0 2 423.0 14977 630 4.52013Croatia Airlines d.d.Croatia Transportation 26.3 328.4 90.4 141.8 63 97726.12123Merkur d.d.Slovenia Trade 26.1 397.9 44.8 436.7 89 2 824 6.7229Budimex Capital Group Poland Construction 23.8 372.6 50.4 610.0 1 076 1 18935.0238BLRT Grupp AS Estonia Shipbuilding 22.6 83.7 31.5 83.8 1 521 3 41536.42416Iskraemeco d.d.Slovenia Electrical machinery 19.0 86.5 32.8 115.0 267 2 11421.02518Tiszai Vegyi Kombinát Ltd.Hungary Chemicals 16.6462.5245.6489.9182 2 98719.9Averages373.21 350.1 525.2 1 209.4 1 25213 409 30.3Change from 2000 (in per cent) 15.29.78.81.6- 10.6- 5.3- 1.9Source:UNCTAD, World Investment Report 2003. FDI Policies for Development: National and International Perspectives , annex table A.I.3.a The transnationality index (TNI) is calculated as the average of the following three ratios: foreign assets to total assets, foreign sales to total sales and foreign employment to total employment.b2000 data.World Investment Report 20038FDI Policies for Development: National and International PerspectivesGeographically, flows to developed and developing countries each fell by 22% (to $460 billion and $162 billion, respectively). Two countries, the United States and the United Kingdom, accounted for half of the decline in the countries with reduced inflows. Among developing regions, Latin America and the Caribbean was hit hard, suffering its third consecutive annual decline in FDI with a fall in inflows of 33% in 2002. Africa registered a decline of 41%; but after adjusting for the exceptional FDI inflows in 2001, there was no decline. FDI in Asia and the Pacific declined the least in the developing world because of China, which with a record inflow of $53 billion became the world's biggest host country. CEE did the best of all regions, increasing its FDI inflows to a record $29 billion.The main developments by region were:•There was a sizable decline in FDI inflows to developed countries, accompanying a continuing slowdown in corporate investment, declining stock prices and a slowdown in the consolidation of activities in some industries—all influenced by weak economic conditions. In several countries, repayments of intra-company loans contributed to lower FDI flows. For instance, a large part of the decline in the United States was due to repayments of loans by foreign affiliates to parent companies, presumably to take advantage of the lower interest rates in the United States as well as for other reasons (such as improving the debt-to-equity ratio of parent firms). The most notable feature of the decline in FDI in the developed countries was the plunge in cross-border M&As, especially in the United States and the United Kingdom. In all, FDI inflows declined in 16 of the 26 developed countries. Australia, Germany, Finland and Japan were among the countries with higher FDI inflows in 2002.FDI outflows from the developed countries also declined in 2002 to $600 billion; the fall was concentrated in France, the Netherlands and the United Kingdom. Outflows from Austria, Finland, Greece, Norway, Sweden and the United States increased.In both outflows and inflows Luxembourg headed the list of largest host and home countries (for special reasons). The prospects for 2003 depend on the strength of the economic recovery, investor confidence and a resumption of cross-border M&As. With many TNCs continuing to follow cautious growth and consolidation strategies, M&As are not yet showing much dynamism. As a group,Overview9 developed countries are not likely to improve their FDI performance in 2003.•Africa suffered a dramatic decline in FDI inflows—from $19 billion in 2001 to $11 billion in 2002, largely the result of exceptionally high inflows in 2001 (two M&As in South Africa and Morocco, not repeated in 2002). Flows to 23 of the continent's 53 countries declined. FDI in the oil industry remained dominant.Angola, Algeria, Chad, Nigeria and Tunisia accounted for more than half the 2002 inflows. Only South African enterprises made significant investments abroad. Oil exploration by major TNCs in several oil-rich countries make the 2003 outlook for FDI inflows more promising.•The Asia-Pacific region was not spared, either, from the global decline in FDI inflows in 2002. FDI inflows to the region declined for the second consecutive year—from $107 billion in 2001 to $95 billion, uneven by subregion, country and industry. All subregions, except Central Asia and South Asia, received lower FDI flows than in 2001. Flows to 31 of the region’s 57 economies declined.However, several countries received significantly higher flows.Intra-regional investment flows, particularly in South-East Asia and North-East Asia, remained strong, partly as a result of the relocation of production activities, expanding regional production networks and continued regional integration efforts. FDI in the electronics industry continued to decline due to the rationalization of production activities in the region and adjustments to weak global demand. While long-term prospects for an increase in FDI flows to the region remain promising, the short-term outlook is uncertain.•In Latin America and the Caribbean, FDI flows declined for the third consecutive year, from $84 billion in 2001 to $56 billion, affecting all subregions and 28 of the region’s 40 economies.Factors specific to the region contributed to this decline, especially the acute economic crisis in Argentina and economic and political uncertainty in some other countries. The services sector was affected most by the decline. Manufacturing FDI proved to be quite resilient, with barely any change, despite the slowdown from the region's major export destination, the United States, and the growing relocation of labour-intensive activities to Asia. FDI is expected to remain at the same level in 2003 and to start rising thereafter.。

人教统编版必修中外历史纲要下第九单元当代世界发展的特点与趋势

文化多样化
地位：文化多样性是世界文化的（基本特征）。各国的做法：各国都在努力维护自己的（文化特征），维系自己的文化根脉。中国的态度：在传承和传播中华优秀文化的同时，（尊重）世界文化多样性，促进（和而不同、兼收并蓄）文明交流，推动世界的和平与发展。
第一部分：当代世界的潮流与趋势
世界多极化各国间相互依存
材料二：近两年来，受欧美政治和经济形势的影响，“逆全球化”潮流不断涌现。…… 贸易保护主义不断升级、全球多边机制不振、各类区域性的贸易投资协定碎片化，美欧的移民政策、投资政策、监管政策等朝着去全球化方向发展。
——《理性看待和正确应对“逆全球化”现象》
陈建奇在《如何应对逆全球化浪潮》（2017年2月15日《大众日报》）一文中指出：逆全球化浪潮的根源是发达国家在全球化中受益下降，新兴及发展中经济体受益较大，越来越大。
1958年欧洲原子能共同体
1967年欧洲共同体
欧共体之成就
建立关税同盟制定共同的农业
政策趋向货币一体化加强科技合作
升级 1993年欧盟
【经济实体向政治经济实体过渡】
1994年，欧洲经济区条约生效
1997年，制定移民、签证、避难、边界的统一规则
2000年，一通过体《化尼斯程条度约》，强化内部
二战后果，不容亵渎日本入常，绝无可能
第一部分：当代世界的潮流与趋势
世界多极化趋势——中国的振兴
“一带一路"经济区开放后，承包工程项目突破 3000个。2015年，中国企业共对“一带一路”相关的49个国家进行了直接投资，投资额同比增长 18.2% 。 2016年6月底，中欧班列累计开行1881列，其中回程502列，实现进出口贸易总额170亿美元。
这段话反映了布什政府的什么外交方针，其实质是什么？

跨国直接投资发展历史与现状

跨国直接投资发展历史与现状一、跨国直接投资的发展历史回顾外商直接投资(简记为FDI)是指跨国公司或外国私人投资者,在一个或数个国家通过直接投资建厂,建立原材料生产基地或产品销售市场等实物性资产投资手段,以获得一定收益的行为。

它是一个包含资本、知识、技术的复合体,它的引进必然对各国经济增长，特别是发展中国家的经济增长起推动作用。

跨国直接投资可以追溯到19世纪70年代，一般认为，最先拉开对外直接投资序幕的，是19世纪上半叶完成工业革命的英国。

在两次世界大战之间的20余年中，跨国直接投资增长比较缓慢,全年均增长率约2.7％；二战后至70年代初，跨国直接投资呈现出快速增长，跨国直接投资累计余额由1938年的264亿美元，增长到1971年的1584亿美元，年均增长率5.8％。

从20世纪80年代中期到20世纪末跨国直接投资进入超高速增长期。

据统计，1985－1989年跨国直接投资年均增长速度高达21.6％，其中1985、1988年增长速度分别高达30.8％和30.5％。

跨国直接投资从1983年的6000亿美元猛增到1999年的47593.33亿美元，这15年中年均增长高达888.28亿美元，年均增长率达14.8％。

20世纪跨国直接投资的区域上看：二战前跨国直接投资主要集中在经济落后的国家和地区；二战后至80年代中期，流入发达国家的跨国直接投资集中在欧洲地区，流入发展中国家的跨国直接投资则集中在拉美和加勒比海地区；80年代中期至今，对发达国家的直接投资集中在欧洲和美国；对发展中国家的直接投资集中在亚太地区。

二、跨国直接投资对我国经济的影响从中国商务部首次发布的《外商投资报告》显示,2002年我国实际使用FDI 金额约为527亿美元,跃升全球首位。

2003年实际使用FDI金额达535亿美元,再创历史新高。

据世界银行发展报告显示，中国在东亚地区吸引FDI的份额从2003年的90％上升为2004年的94％。

由于中国经济发展势头强劲,产业结构调整成效显著,吸收外资的综合优势日益凸现,绝大多数跨国公司对华投资的意向并未减弱。

历年《世界投资报告》的主题

联合国贸易与发展会议《世界投资报告》

年份
主题
下载资源
1992
跨国公司——经济增长的引擎
1993
跨国公司与一体化国际生产
1994
跨国公司、就业与工作环境
1995
跨国公司与竞争能力1996投资、来自易与国际政策安排1997
跨国公司、市场结构和竞争政策
1998
趋势和决定因素
2007
跨国公司、采掘业与发展
2008
跨国公司与基础设施的挑战
2009
跨国公司、农业生产与发展
2010
低碳经济投资
2011
国际生产和发展的非股权形式
1999
外国直接投资与发展的挑战
2000
跨国并购与发展
2001
促进联系
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2002
跨国公司与出口竞争
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2003
外国直接投资政策促进发展：国家和国际透视
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2004
转向服务业
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2005
跨国公司与研发活动的国际化
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2006
来自发展中经济体和转型经济体的外国直接投资：对发展的影响

FDI在中国的地区分布特征及对经济发展的影响

FDI在中国的地区分布特征及对经济发展的影响一, 中国FDI的现状总的说来, 当前我国外商投资的情况可用“数量增多、速度加快、规模扩大、结构优化”16 个字加以概括。

日本贸易振兴会出版的《2003年度贸易投资白皮书》显示: 2002年，中国的贸易和投资最为活跃，世界对华直接投资额首次超过对美投资额而跃居世界首位，并连续两年达到历史最高记录。

而据商务部统计，2003年1-12月，全国新批设立外商投资企业41081家，比去年增长20.22%；合同外资金额1150.70亿美元，同比增长39.03%；实际使用外资金额535.05亿美元，同比增长1.44%。

2004年今年1-2月份，全国新批设立外商投资企业6025家，比去年同期增长11.74%；合同外资金额191.36亿美元，同比增长34.54%；实际使用外资金额83.19亿美元，同比增长10.28%。

截止到2004年2月底，全国累计批准设立外商投资企业471302个，合同外资金额9622.65亿美元，实际使用外资金额5097.89亿美元。

下面是近几年中国吸收FDI占全球份额的数据。

全球直接投资一览表（单位：亿美元）专家分析，我国正进一步扩大投资领域并改善投资软硬环境，国民经济发展势头在全球突出强劲，国际投资者在新一轮制造业转移中普遍将我国视为投资信心最强国；我国社会稳定带来的安全效应，奥运、世博、西部大开发、振兴东北老工业基地等带来的难逢商机，加之我国持续的低劳动力成本，特别是极具潜力的市场，对投资者依然具有很大的的吸引力。

由此预计，近几年我国吸收外资有望再上一个新台阶，中国将在吸收FDI的全球竞争中扮演更加重要的角色。

二，FDI的经济意义吸引外商直接投资，是中国对外开放基本国策的重要组成部分。

中国加入WTO以后，外资将以更快的速度和更多元化的形式涌入国内，这将对经济增长特别是西部地区的经济发展带来巨大的推动作用。

由于FDI是资本存量，知识和技术的综合体，因此，它对当地经济增长的影响应该是多方面的。

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