A Systematic Literature Review of Chinese Investment in Natural Resource-Rich and Technology-Intensive Locations

With China’s economy transitioning into a post-industrial phase focused on knowledge and technology, there has been a notable shift in the patterns of Chinese Outward foreign direct investment (OFDI). This change has led to the emergence of new research perspectives, underscoring the importance of organizing them systematically. To address this, our research presents a thorough analysis of eighty-eight publications examining Chinese OFDI in natural resource-rich (NRR) and technology-intensive (TI) locations across various global regions and countries. Based on the geographical scope and comprehensive coverage of studies published between 1998 and 2023, we summarize the major themes, theories, and methodologies used in this research area. Identifying three elements related to Chinese investment (antecedents and motives, operational strategies, and investment outcomes), we develop a matrix based on the discussion of Chinese firms’ investment behavior in the foreign environment in which they operate. We describe the theoretical distinctions between investments in NRR global regions, such as Africa and Central Asia, and TI regions, such as Europe and North America, with regard to technology acquisition, creation, co-creation, and transfer. We identify several research sub-themes (e.g., control and learning mechanisms, technology transfer, intellectual property, etc.) that remain under-investigated and suggest future research opportunities.