中文摘要：

境外经贸合作区作为促进中国对外直接投资的新模式，已经成为政府帮助中国企业“走出去”的一个重要平台，对中国国际投资与国际贸易产生了深远的影响。2015年“一带一路”战略提出后。商务部更将境外经贸合作区定位为“一带一路战略重要承接点”并将加大建设力度。但与境外经贸合作区日益重要的战略地位相比，鲜有文献对其产生的影响与作用进行实证分析。本文通过倾向得分匹配的方法。结合签约国制度水平、经济发展情况与自然资源储备，量化分析1999—2013年间境外经贸合作区对中国国际投资以及进出口贸易所产生的具体影响，试图填补该领域的文献空白。本文主要有两点发现：首先，境外经贸合作区的建立能够显著提高中国对签约国的直接投资，其促进作用甚至大于双边投资协定和自由贸易区协定：其次，境外经贸合作区对于中国的出口贸易具有替代作用。本文的实证结果为“一带一路”战略背景下中国国际投资协定的策略选择提供了证据，同时也印证了境外经贸合作区正在发挥着符合战略预期的重要作用。

英文摘要：

Overseas Economic and Trade Cooperation Zone （OETCZ） is a new mode to promote China＇s Outward Foreign Direct Investment （ OFDI）, which allows China＇s government to help Chinese enterprises ＂going global in groups＂ and has influenced China＇s international trade and investment. Since ＂The Belt and Road Initiative＂ in 2015, China＇s Ministry of Commerce plan to develop OETCZ as the connect points among countries in the ＂the Belt and Road Initiative＂ area. However, there is few empirical evidence analyzing its influence. Using propensity score matching and difference-in-difference methodology, this paper quantifies OETCZ＇s impact on China＇s international trade and investment in 1999-2013, combining with the in- stitution quality, economic development and natural reserve. There are two main findings in this study： 1 ） OETCZ promotes China OFDI to the host country significantly; 2） OETCZ has ＂substitution impact＂ on China＇s expert to the host country. These results suggest that OETCZ is playing a role following the requirement of ＂the Belt and Road Initiative＂.