跨国公司对华直接投资的发展与转型——以大众汽车集团为例

The Development and Transformation of MNC’s Direct Investment in China—Illustrated by Volkswagen Group

摘要: 在跨国公司对华直接投资持续增长，中国汽车市场竞争加剧的背景下，作为发达国家跨国企业的典型代表，大众集团如何凭借有效的直接投资实现在华扩张成为了值得关注的问题。通过对大众进入中国市场的历史脉络进行梳理，本文创新性地运用国际生产折衷理论框架和PEST模型，对其前期投资优势和后期面临的挑战进行了分析，并按照时间顺序总结归纳了其在华两次投资战略转型的背景、进程和主要成果。在以小见大地反映了跨国公司进入中国的普遍直接投资决策共性的同时，也对我国政府和本土企业给予了良好的经验启示。

Abstract: In the context of the incessant growth of MNCs’ direct investment in China and the intensifying competition in the Chinese automobile market, how Volkswagen Group, as a typical representative of multinational enterprises in developed countries, realizes its expansion and transformation in China through effective direct investment has become a noteworthy issue. Through sorting out the Chinese market entrance history of Volkswagen Group, this paper creatively analyzes its early investment advantages and later challenges by using the OIL framework and PEST model, and sums up the background, process and main achievements of its two investment strategy transitions towards Chinese market in chronological order. This paper not only reflects the generality of FDI decision-making of MNCs in China, but also gives salutary inspirations and experience to Chinese government and local enterprises.