中文摘要：

以全球500强为研究对象，分别从其投资行业的时序特征、投资区域的演化特征、投资城市的产业特征3个方面，揭示出近20年长三角地区跨国公司投资的时空演化轨迹。研究发现，近20年长三角地区全球500强的制造业投资项目呈现出双高峰的周期性特征，服务业项目具有相对滞后的单高峰特点。与此对应，跨国公司投资项目逐步由上海、苏州、无锡、南京、杭州、宁波等核心区向周边中小城市以及苏中、苏北、浙中、浙南地区扩散，但传统的长三角核心城市仍然是投资重点区域。在这一过程中，以电子、化工、汽车为代表的制造业项目和以商贸、金融、技术为代表的服务业项目是其主要投资领域。由此，跨国公司、地方政府、社会公众等主体力量共同推动着经济全球化背景下长三角城镇化进程的快速发展。

英文摘要：

The paper studies the changes of multinational corporation Investment in the last 20 years in terms of investment sectors, regional locations and economic structures of recipient cities in the Yangtze River Delta Region. It is fotmd that manufacture investment of Global 500 exhibits double peak characters while service investment is single-peaked at a slower pace. Correspondingly, investment of multinational corporations has gradually shifted from core cities such as Shang- hai, Suzhou, Wuxi, Nanjing, Hangzhou and Ningbo to the surrounding area and small cities as well as central or northern Jiangsu and southern Zhejiang. Howev- er, the traditional core cities in the Yangtze River Delta Region remain the prima- ry sites for investment. Manufacture invest concentrates in electronics, chemicals and automobiles while service investment focuses on commerce, finance and technology. The paper suggests that multinational corporations, local government and the public are the driving forces of economic development and urbanization in the Yangtze River Delta Region.