Paper Title
Factors Effecting on Chinese Outward Foreign Direct Investment Flows under the “Belt and Road” Initiative in ASEAN Countries

Abstract
ASEAN countries are belt and road alongside, which will provide a better opportunities for the cooperation between China and ASEAN, especially China’s foreign direct investment has grown rapidly and ASEAN is one of the region that China most invested in. This study used panel ARDL approach to examine the impact of economy, resource, institution, openness, political environment factors and OBOR initiative on Chinese outward foreign direct investment in 9 ASEAN countries (except Brunei), “one belt and one road” was used as a dummy variable to test the policy’s effect with the factors on China’s investment in ASEAN. The MG and PMG estimators are applied in the study, and Hausman test is selected to decide between the MG and PMG estimators, The result suggest that with the development of OBOR, China’s investment inflow to ASEAN will decrease, and the factor like economy growth (eg), inflation rate(ir), Corruption Perceptions Index (cpi), rules of law(rl), business freedom(bf) and so on are significant for ASEAN countries attracting China’s FDI. Keywords - “One Belt and One Road” Initiative, Factors Effecting, ASEAN, China’s OFDI, Panel ARDL Approach