DU Qunyang , WANG Zhenyu , LI Zhongyuan
Journal of Zhejiang University of Technology(Social Science).
2026, 25(1):
1-12.
The development of new quality productive forces by manufacturing enterprises is both an intrinsic requirement and a focal point for high-quality economic development, and a key for cultivating new growth momentum. At the current stage, direct investment(OFDI)in countries participating in the Belt and Road Initiative(B&RI)has become a crucial strategic measure for manufacturing industries to break through the bottlenecks hindering the development of new quality productive forces. Based on a sample of A-share listed manufacturing companies in China from 2015 to 2023, this paper systematically investigates the impact of direct investment in BRI partner countries on enterprises new quality productive forces. The findings reveal that OFDI in Beltand Road countries significantly enhances enterprises new quality productive forces. Specifically,reverse technology spillovers, optimization of labor factor allocation, and overseas market expansion serve as transmission channels. Moderating effect analysis indicates that the overseas experience of enterprise senior executives strengthens the relationship between B&RI direct investment and new quality productive forces. Furthermore, the impact of B&RI direct investment on new quality productive forces is more pronounced in samples of firms in developed host countries, non state-owned enterprises (non-SOEs), and capital-intensive enterprises. The findings provide have significant implications for decision-making departments seeking to foster the development of new quality productive forces in an open environment.