随着全球经济一体化进程的加速，国际直接投资已成为推动全球经济发展的重要动力。中国作为世界第二大经济体，对IFDI吸引力日益提升，企业的OFDI也呈现出快速增长的态势。同时，随着中国经济的高速发展，中国在数字经济领域的发展也取得了显著成绩。然而，在现有的涉及到外商直接投资或是对外直接投资的研究中，大多数都未能综合考虑IFDI与OFDI之间的关系，并且数字经济在其中所起到的作用也尚未得到充分关注。为填补这一缺憾，本文利用中国省际面板数据对IFDI对OFDI的影响进行研究。

本文首先通过文献综述梳理了外商直接投资溢出效应、对外直接投资及数字经济发展等相关理论和研究成果，为后续研究提供理论支持。然后构建了一个具有实际应用价值的数字经济发展水平评价指标体系，并分析了中国各地区数字经济发展水平的差异性。接着从技术创新与知识溢出、产业链整合、市场拓展与国际竞争力、政策环境与投资氛围四个维度对IFDI通过数字经济发展促进OFDI的作用机理展开理论分析，并提出了两个假设。

为验证这两个假设，本文对中国2013-2019年30个省份的面板数据进行实证检验。结果发现：（1）IFDI对OFDI的正向影响存在地区差异，东部地区产生了显著的促进作用，而中西部地区的正向作用均不显著；（2）数字经济发展水平在外商直接投资与对外直接投资的关系中起到了部分中介作用。据此，本文提出了针对政府层面和企业层面的政策建议。在政府层面应加强数字经济发展的顶层设计，优化政策环境，促进区域经济协调发展。企业层面应加强企业数字化转型，整合全球资源，以提高在全球市场的竞争力。

With the acceleration of global economic integration, Foreign Direct Investment has become an essential driving force for global economic development. As the world's second-largest economy, China's attractiveness to IFDI has increased, and the rapid growth of enterprises' OFDI has emerged. Meanwhile, with China's rapid economic development, significant achievements have been made in the field of the digital economy. However, the relationship between IFDI and OFDI and the role of the digital economy in this regard has not received sufficient attention in existing research. To fill this gap, this study investigates the impact mechanism of IFDI on OFDI using China's provincial panel data.

This paper first reviews the literature on FDI spillover effects, outward direct investment, and digital economy development to provide theoretical support for subsequent research. It then constructs a practical digital economy development level evaluation index system and analyzes the differences in digital economy development levels across China's regions. The theoretical analysis is then carried out on the mechanism of foreign direct investment promoting outward direct investment through digital economy development from four dimensions: technological innovation and knowledge spillover, industrial chain integration, market expansion and international competitiveness, and policy environment and investment atmosphere, and two hypotheses are proposed.

To verify these two hypotheses, this paper empirically tests the panel data of 30 provinces in China from 2013 to 2019. The results show that: (1) the positive impact of foreign direct investment on domestic economic development varies across regions,with a significant promoting effect in the eastern region, while the positive effects in the central and western regions are not significant; (2) the development level of the digital economy plays a partial mediating role in the relationship between foreign direct investment and outward direct investment. Based on this, policy suggestions for the government and enterprise levels are proposed. The government should strengthen the top-level design of digital economy development, optimize the policy environment, and promote regional economic coordination. Enterprises should enhance their digital transformation, integrate global resources, and improve competitiveness in the global market.