The Efficiency Evaluation Research of Chinese Enterprises' Direct Investment in Africa in the Background of "One Belt and One Road"

Along with the implementation of "One Belt and One Road" initiative, there will be an unprecedented historic opportunity for the trade and investment among China and African countries. This article focuses on the efficiency of Chinese enterprises' direct investment in African countries. It selects 42 African countries as the evaluation objects and chooses 2008 to 2015 as the investigation period from the perspective of the host countries. Also, this paper applies the super-efficiency DEA model, and uses the space-time difference analysis, cluster analysis and convergence analysis to assess the results. The final result indicates that only a small part of the national investment in China's investment in Africa is effective. The efficiencies of inward investments in most countries are at the medium to low level, but the return to scales of the most countries are at an increasing stage. Based on the empirical results, this paper will provide some countermeasures for optimizing the investment structure, making location choice and realizing the co-construction of host countries' infrastructure,in order to promote the investment level in Africa.