中國對非洲的直接投資：不同所有權形式企業之考察

China's Outward FDI in Africa: Different Ownership Enterprises Considerations

本研究藉由不同所有權性質企業的投資活動，研究中國對非洲的直接投資。企業個案討論和分析顯示，中國對非洲直接投資具多樣性。大型中央型國有企業的投資承擔政府政策任務，但多數民營企業與地方國有企業的投資主要出於利潤考量，是企業家追求永續發展、開拓新市場的表現。本文的分析也表明，中國在非洲投資不是「殖民主義」的再現，既有傳統中國與非洲關係延續，也包含中國作為新興大國追求自身利益的訴求。同時，中國對非洲的投資可以部分由傳統的對外投資理論解釋；同時，中國對非洲的直接投資也更加複雜多樣，無法以單一模式解釋。

The main purpose of the present paper is to discuss China's outward direct investment in Africa in terms of different ownership enterprises. First, in addition to the official data parsing, a large number of Chinese enterprises investment projects are discussed. Second, besides the investment activities of central state-owned enterprises, local state-owned enterprises, and private enterprises investment activities are also concerned. Third, through the discussion of a large number of corporate cases, the diversity of Chinese investment in Africa is shown in the analysis. The motive of the large central state-owned enterprises implements the government policies, but most private enterprises and non-central state-owned enterprises invest in Africa due to profit considerations. The analyses of this paper indicate that China's investment in Africa can be partly explained by the existing theories of foreign direct investment; but China's investment in Africa is also more diverse and complex and cannot be explained in a single model.