Unlike the conventional understanding of China’s outward foreign direct investment, we found that the pattern of compressed development better reflects China’s outward foreign direct investment in the 21st century. The compressed development of Chinese outward foreign direct investment is characterized by a much higher growth rate than that of earlier industrializers and greater structural changes in types of investment, investors and destination countries. These changes result in new challenges to the Chinese government in dealing with domestic and foreign actors. Nevertheless, these challenges also create incentives for the Chinese government to improve how it interacts with Chinese investors and regulates their investment behavior.
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