China’s Outward Foreign Direct Investment and Bilateral Trade Potential: A Theoretical and Empirical Study

Table 1

Descriptive statistics of variables.

Variables	Symbol	Average	Standard deviation	Minimum	Maximum
Total trade volume	lnCTRA	12.602	2.002	0	16.611
Export volume	lnCEXP	12.178	1.928	0	16.107
Import volume	lnCIMP	10.958	2.661	0	15.799
Trade potential	lnCTP	−0.002	0.079	−0.354	0.412
Export potential	lnCEP	−0.002	0.079	−0.352	0.366
Import potential	lnCIP	−0.013	0.165	−1.365	0.963
China’s OFDI	lnOFDI	8.681	2.991	−0.041	15.487
Market size	lnGDP	24.327	1.574	18.774	27.753
Economic development level	lnRGDP	8.05	1.392	4.611	10.837
China’s economic development	lnCGDP	12.944	0.62	11.831	13.812
Total population of host country	lnPOP	16.288	1.605	12.775	21.038
Total population of China	lnCPOP	21.019	0.025	20.977	21.058
Distance cost	lnRDIS	12.689	0.548	10.809	13.626
Economic openness	lnTRA	4.27	0.57	0	5.839
Natural resources	lnRES	0.492	2.325	−8.581	4.014
Urbanization rate	lnUPR	3.998	0.411	2.677	4.605
ICT	lnICT	3.547	0.764	−0.652	4.478
Industrial structure	lnIST	4.405	0.119	4.032	4.663
Share borders	lnBOR	0.189	0.391	0	1