联合国：2017年世界投资报告－中国成全球第二大对外投资国－253页

秋云飞

WORLD
INVESTMENT
REPORT2017
INVESTMENT AND THE DIGITAL ECONOMY
PREFACE..................................................iii
FOREWORD...............................................iv
ACKNOWLEDGEMENTS........................................v
ABBREVIATIONS ............................................vi
KEY MESSAGES.............................................x
CHAPTER I. GLOBAL INVESTMENT PROSPECTS AND TRENDS ..........1
INTRODUCTION..............................................2
A. PROSPECTS..............................................3
1. Overall prospects assessment .................................3
2. Key factors influencing future FDI flows...........................4
3. UNCTAD business survey.....................................5
B. CURRENT TRENDS........................................10
1. FDI by geography .........................................10
2. FDI by sector, industry and mode of entry........................21
C. INTERNATIONAL PRODUCTION ...............................26
1. Internationalization trends of top MNEs..........................27
2. State-owned MNEs........................................30
CHAPTER II. REGIONAL TRENDS...............................41
INTRODUCTION.............................................42
A. DEVELOPING ECONOMIES ..................................44
1. Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44
2. Developing Asia ..........................................49
3. Latin America and the Caribbean ..............................57
B. TRANSITION ECONOMIES ..................................64
C. DEVELOPED ECONOMIES...................................70
viii World Investment Report 2017 Investment and the Digital Economy
D. STRUCTURALLY WEAK, VULNERABLE AND SMALL ECONOMIES ......79
1. Least developed countries...................................79
2. Landlocked developing countries ..............................85
3. Small island developing States................................90
CHAPTER III.  RECENT POLICY DEVELOPMENTS AND KEY ISSUES......97
INTRODUCTION.............................................98
A. NATIONAL INVESTMENT POLICIES ............................99
1. Overall trends ............................................99
2. Investment laws and their relation to IIA reform ..................105
B. INTERNATIONAL INVESTMENT POLICIES ......................111
1. Recent developments in the international investment regime.........111
2. Taking stock of IIA reform ..................................119
3. Phase 2 of IIA reform......................................126
C. CAPITAL MARKETS AND SUSTAINABILITY ......................148
1. Sustainable Stock Exchanges initiative.........................148
2. Green bonds............................................149
3. Indices................................................149
4. Guidance and listing requirements on ESG disclosure..............150
CHAPTER IV. INVESTMENT AND THE DIGITAL ECONOMY ............155
A. INTRODUCTION.........................................156
1. The pervasiveness of the digital economy.......................156
2. The relevance of the digital economy for investment
and investment policy.....................................158
B. MNEs AND INTERNATIONAL PRODUCTION
IN THE DIGITAL ECONOMY .................................159
1. The rise of tech MNEs and its implications ......................159
2. Digital and tech MNEs:a fundamentally different
international footprint .....................................164
ix
3. The digitalization of MNEs across industries:gradual transformation....175
4. Implications for investment policy:from analogue to digital..........185
C.  INVESTMENT IN DIGITAL DEVELOPMENT ......................189
1. Digital development strategies:the investment dimension ...........189
2. Investment in digital infrastructure............................193
3. Investment in digital firms..................................204
4. Investment in digitalization across industries.....................210
D. TOWARDS AN INVESTMENT POLICY FRAMEWORK
FOR THE DIGITAL AGE ....................................215
REFERENCES ............................................219
ANNEX TABLES ...........................................221
Annex table 1. FDI flows, by region and economy, 2011–2016...........222
Annex table 2. FDI stock, by region and economy, 2000, 2010 and 2016...226
Annex table 3.  Value of cross-border M&As, by region/economy
of seller/purchaser, 2010–2016......................230
Annex table 4.  Value of cross-border M&As,
by sector/industry, 2010–2016. . . . . . . . . . . . . . . . . . . . . . .233
Annex table 5.  Cross-border M&A deals worth over
$3 billion completed in 2016.........................234