本文收集整理了2016～2020年139个国家有关华人移民、中外投资贸易的相关数据，基于扩展的双重差分模型识别了在疫情背景下华人移民网络对中外投资贸易的作用效果，并进一步分析了背后的原因、异质性等。主要结果表明：（1）在疫情背景下华人移民网络能显著促进中国的对外直接投资，但华人移民网络在各国对中国出口贸易中的促进作用会受到限制。（2）“一带一路”沿线国家在疫情中表现出了更强的抗风险能力，且这些国家对华人移民网络的依赖程度低于非“一带一路”沿线国家。（3）华人移民网络可以通过改善制度差异、消除信息不对称、弥合文化距离三种途径在双边投资贸易中发挥“桥梁”作用。
This paper has collected and sorted out relevant data on Chinese immigrants，Chinese and foreign investment and trade from 139 countries from 2016 to 2020. Based on the extended double difference model，it has identified the effect of Chinese Immigration Network on Chinese and foreign investment and trade under the background of the epidemic，and further analyzed the reasons and heterogeneity behind it. The main results show that：（1）In the context of the epidemic，the Chinese immigration network can significantly promote China’s foreign direct investment，but the role of the Chinese Immigration Network in the promotion of countries’ trade exports to China will be limited. （2）Countries along the “the Belt and Road” have shown stronger anti risk ability in the epidemic，and their dependence on the Chinese immigration network is lower than the countries not along the Belt and Road. （3）The Chinese immigration network can play a “bridge” role in bilateral investment and trade by improving institutional differences，eliminating information asymmetry and bridging cultural distance.
