地理科学进展 ›› 2014, Vol. 33 ›› Issue (1): 114-123.doi: 10.11820/dlkxjz.2014.01.013

• 产业与区域发展 • 上一篇    下一篇

中国房地产外资的区位选择及空间转移

兰晓虹1, 马妍2   

  1. 1. 山西大同大学历史与旅游文化学院旅游管理系, 山西大同037006;
    2. 北京大学城市与环境学院, 北京100871
  • 收稿日期:2013-08-01 修回日期:2013-10-01 出版日期:2014-01-25 发布日期:2014-01-22
  • 作者简介:兰晓虹(1971- ),女,山西大同人,讲师,主要从事旅游地理研究,E-mail:lanzi0369@foxmail.com。
  • 基金资助:
    国家自然科学基金项目(41271130)。

Location choice and its special shift for foreign real estate investment in China

LAN Xiaohong1, MA Yan2   

  1. 1. College of History and Tourism Culture, Shanxi Datong University, Datong 037006, Shanxi, China;
    2. College of Urban and Environmental Science, Peking University, Beijing 100871, China
  • Received:2013-08-01 Revised:2013-10-01 Online:2014-01-25 Published:2014-01-22

摘要: 2006 年以来,房地产业成为流入中国的外商直接投资集中的主要行业之一。对这一时期中国35 个重点城市的房地产外资区位进行分析,发现房地产外资集中的地区仍分布在北京、上海、广州等特大型城市,但同时表现出向长江沿岸地区及东北地区的核心城市等内陆地区转移的趋势。面板Tobit 模型的计量结果表明,内资企业的竞争是导致房地产外资区位变化的重要因素。内资企业的竞争优势迫使房地产外资放弃利润率最高的最优区位,转而寻求利润率较低、而市场需求较大的次优区位。各重点城市间土地市场化程度差异的迅速缩小使得房地产外资能够自由选择区位,为房地产外资的这一空间转移策略提供了制度保障。

关键词: 房地产, 区位, 市场, 外商直接投资, 制度, 中国

Abstract: Since the late 20th Century, the hotspots of international direct investment have transferred from manufacturing industries to service industries. The development of service international direct investment became the motor of global direct investment. As a result, the locational choice of service international direct investment has acted as a popular topic of economical geography. After thirty years' reforming and opening up, Chinese is now a major destination of international direct investment. The structure of international direct investment in China has also changed because of more critical policies and variable environments. Recently, the tertiary industries are attracting more and more foreign direct investment. However, there are little literatures about the location choice theories of foreign direct investment in the tertiary industries. The empirical literatures are even less. Real estate is one of the major industries that foreign direct investment focuses on. We hold the real estate industry as an example to study the location choice of foreign direct investment in Chinese tertiary industries. Special intention is paid to the interaction of foreign direct investment and domestic investment, especially the exclusion impact of domestic investment. Empirical study of the location choices of real estate foreign direct investment during 2006-2011 shows that although foreign real estate investment concentrates in the metropolises along the eastern seashore, it shows a trend to shift to the big cities in the inner land, especially to those cities locates along the Yangtze River. Compared to foreign direct investment from other regions and countries, foreign direct investment from Hong Kong, Macao and Taiwan spreads more widely in the inner land. The study uses a panel Tobit model to declare that intensive competitions from domestic real estate firms and disadvantages of outsiders make foreign firms to give up the optimized locations, where the profit rate is highest. Compared to foreign real estate forms, domestic real estate firms are much more familiar with the real estate market so that they deal with little uncertainty and risk. What's more, the regulations of domestic real estate firms are looser, and they may enjoy more flexible company frameworks and investment destinations. As a consequence, the domestic real estate firms have more market power than foreign real estate firms. The domestic real estate firms could occupy the optimal locations, known as "the first line cities" including Bejing, Shanghai and Guangzhou. Foreign firms move to suboptimal locations, where the market scale is large and the profit rate isn't highest, ensuring that they can increase the total sum of profit. Such cities are called "the secondary line cities", including cities located along the Yangtze River and capitals of eastern and central provinces. Because the levels of marketization of land in different cities increased rapidly in the past six years, foreign firms can chose locations without the restriction of land institutions. Additional analyses about the newly built-up foreign and domestic real estate firms indicate that the trend to transfer from "the first line cities" to "the secondary line cities" exists in both foreign and domestic firms.

Key words: China, Foreign Direct Investment(FDI), institution, location, market, real estate

中图分类号: 

  • F207