Investment environment, the meso level mainly refers to the investment environment of the city, and the micro level mainly refers to the investment environment of enterprises or specific industries. When evaluating the investment environment at different regional levels or with different goals, the impact factors or participating factors and their weights will also change depending on the levels and goals. This was rarely taken into consideration in previous investment environment assessments. This study attempts to remedy this shortcoming.

2. Investment environment evaluation at the macro level

The purpose of the investment environment evaluation at the macro level is to provide scientific basis for investors’ macro decision-making, that is, which country or country to choose? area to invest? The main factors that investors consider when making this choice can be used as the main factors for the investment environment. From this perspective, the investment environment rating method, the hot and cold country comparison method, and the institutional assessment method proposed by foreign scholars all fall into this category. Here, the author regards the investment environment evaluation of each province and region in my country as an evaluation at the macro level. Among provinces and regions in my country, due to relatively small regional differences in factors such as political stability, currency stability, degree of control over foreign businessmen, legal obstacles, etc., they will not be considered. Therefore, the road network density (X[,1]), informatization level (X[,2]), green coverage rate of built-up areas (X[,3]), production cost including real estate price (X [,4]) and labor costs (X[,5]), market size and potential include GDP per capita (X[,6]), market centrality (X[,7]) and urbanization level (X[,8 ]), labor force quality (X[,9]), rationality of the enterprise group (X[,10]), administrative management efficiency (X[,11]), intellectual property protection (X[,12])** *12 indicators form the evaluation indicator system. Among them, the line network density is the sum of railway operating mileage and highway mileage per square kilometer; the informatization level is borrowed from the National Statistical Information Center's calculation results of the informatization level of China's provinces and regions; the labor cost is expressed by the average salary of employees; the market centrality is expressed by per capita It is measured by the sum of wholesale and retail sales; the quality of the labor force is the number of high school graduates and above per 100,000 people; the degree of rationalization of the enterprise group is expressed by the proportion of the total industrial output value of the non-state-owned economy to the total industrial output value; administration Management efficiency is indirectly measured by borrowing the survey results of "reducing government intervention in enterprises" in the "China Marketization Index" report; intellectual property protection is expressed by the ratio of the number of three patent approvals to GDP.

In addition to the administrative efficiency index, the raw data of the remaining 11 indicators were first normalized using range standardization. When the index value is positively related to the quality of the investment environment, the index

Attached Figure

According to the above method, the comprehensive score value of the investment environment of each province and region in my country is obtained (see Table 1) .

Table 1 Investment environment evaluation index system, scores and ranking at the macro level (2000)

Attached pictures

Note: (1) Tibet, Hong Kong , Macao, and Taiwan have not been considered yet due to incomplete information. (2) The informatization level index (X[,2]) is taken from the calculation results of the National Statistical Information Center's "Estimation and Comparative Study of the Informatization Level of Various Regions in China" (1998 data). (3) Administrative management efficiency is taken from "China Marketization Index - Report on the Relative Progress of Marketization in Various Regions (2000)" edited by Fan Gang and Wang Xiaolu, Beijing, Economic Science Press, 1999 data

As can be seen from Table 1, Beijing, Shanghai, and Guangdong rank in the top three in terms of comprehensive investment environment scores, followed by Tianjin, Hainan, Zhejiang, Liaoning, Jiangsu and other provinces and cities with better investment environments; Fujian, Jilin, Shandong, Hubei and other provinces The investment environment is in the middle range; the overall investment environment in Heilongjiang, Hunan, Hebei, Chongqing, Shaanxi, Jiangxi, Guangxi, Yunnan, Henan, Guizhou, Xinjiang, Sichuan and other provinces, cities and districts is not good, and there are some defects and defects in the soft and hard environment. However, the overall investment environment in Shanxi, Ningxia, Inner Mongolia, Qinghai, Anhui, Gansu and other provinces is relatively poor, and there is an urgent need to strengthen improvement and optimization.

3. Investment environment evaluation at the meso level

Attached figure

The evaluation results are shown in Table 2. It can be seen from Table 2 that the investment environment of the five cities of Shenzhen, Foshan, Dongguan, Zhuhai and Guangzhou ranks among the top five in Guangdong Province. The investment environment of cities such as Zhanjiang, Maoming, Yangjiang, Heyuan, Qingyuan, Jieyang, Yunfu, and Shanwei ranks at the bottom of Guangdong Province. Although the ranking of Huizhou, Zhongshan, Jiangmen, Zhaoqing, Shaoguan, Shantou, Meizhou, Chaozhou and other cities has changed, they are generally in the middle.

Table 2 Results and ranking of investment environment evaluation of cities in Guangdong Province (1998-2000)

Attached Figure

Continued Table 2

Attached Figure

Based on the evaluation results from 1998 to 2000, the author uses the coordinate diagram method to classify the urban investment environment in each year (due to space limitations, the figure is omitted here), divided The following four types are identified: the first type: the interactive development type of soft and hard environment; the second type: the lag development type of the hard environment; the third type: the lag development type of the soft environment; the fourth type: the slow development type of the soft and hard environment.

Take the year 2000 as an example. Cities belonging to the first category include Shenzhen, Foshan, Guangzhou, Dongguan, Zhuhai, Huizhou, Jiangmen, Zhaoqing and Chaozhou; cities belonging to the second category include Shaoguan, Zhanjiang and Meizhou; Cities that fall into the third category include Zhongshan City and Shantou City; cities that fall into the fourth category include Maoming City, Yangjiang City, Heyuan City, Qingyuan City, Jieyang City, Yunfu City, and Shanwei City.

4. Investment environment evaluation at the micro level

The purpose of investment environment evaluation at the micro level is to evaluate specific investment sites on the basis of macro and meso decision-making. Conduct comparative analysis and evaluation on suitability and investment potential to provide scientific basis for investors' investment decisions. Site selection is mainly based on investment projects, investment timing and investment methods. Smart investors can often choose investment projects, investment timing and investment methods appropriately in order to reduce mistakes, improve efficiency and win competition.

When evaluating the suitability of investment sites, we should first select and construct them based on the individual requirements of different industries such as heavy industry, light industry, high-tech industry, and service industry on natural, economic, technological, environmental and other conditions. Evaluation index system. For example, in terms of natural conditions and environmental conditions, altitude, ground slope, foundation bearing capacity, water quality, air quality, green coverage, probability of flooding, earthquake intensity, education issues for children of foreign employees, "three chaos" should be comprehensively considered. "phenomenon" and other factors; in terms of economic and technical conditions, comprehensive consideration should be given to the distance from major transportation nodes such as stations, airports, and ports, land costs and taxes, the supply and cost of water and electricity, the distance from municipal commercial centers, local Factors such as the degree of supporting industries and auxiliary industries, the technical level of the labor force, resource endowments, the existing product network and related service industry networks, the credit status of individuals and enterprises, etc.

The specific methods for evaluating investment sites include: (1) Expert decision-making method: that is, judging and weighting based on the selected site characteristic index values, and the site with the highest total score is the optimal site. . (2) Matching method: that is, the optimal site is selected based on the best matching degree between user needs and selectable sites. (3) Analytical hierarchy process: that is, the analytic hierarchy process is used in possible selection to determine the optimal site.

For example, high-tech industries have higher requirements for labor quality, transportation conditions, innovation environment, etc., are close to knowledge-intensive areas, have a strong industrial foundation, complete infrastructure and living service facilities, and have good The natural environment, policy environment and financial environment have become important conditions for its layout. Take Shanghai Caohejing Emerging Technology Development Zone as an example. This park is located in the southwest of Shanghai and focuses on the information industry. The park is 11 kilometers away from People's Square in the city center, 7 kilometers away from Hongqiao International Airport, 12 kilometers away from Shanghai Railway Station, 4 kilometers away from the Inner Ring Elevated Road, and 1.5 kilometers away from Metro Line 1.

The park has complete infrastructure, convenient transportation, and quick communication; it has an elegant environment, low dust reduction rate, and good water quality; it has good industrial supporting cooperation conditions and rich intellectual resources (there are more than 20 colleges and universities such as Shanghai Jiao Tong University and more than 120 universities nearby) Research institutes; 16 national scientific research and development institutions, 270 private science and technology development institutions), and a sound support service system such as customs, commodity inspection, finance, insurance, foreign trade, consulting, lawyers, accounting, patents and trademarks, quality inspection, and talent training. By the end of 2000, there were 800 enterprises of various types in the zone, including 650 institutions and enterprises with R&D functions, accounting for about 81% of the total number of enterprises; a total of 41,000 employees, including 14,350 professional and technical personnel with college or above. The number of engineering and technical personnel directly engaged in R&D work reaches 8,000, accounting for approximately 35% and 20% of the total number of employees respectively. On the 6 square kilometers of land that has been developed, each square kilometer has accumulated sales revenue of 18.1 billion yuan, profits and taxes of 2 billion yuan, and export earnings of 620 million US dollars. The output per unit area ranks first in the country's high-tech zones; the world's top 500 multinational high-tech The company has more than 30 investment projects in the region. The park also cooperates with international countries