Abstract: In view of the increasing growth of Guangdong's Outward Foreign Direct Investment in recent years, basing on the flow and stock data of Guangdong's OFDI from 2007 to 2015, this paper introduced the center of gravity model and analyzed the temporal and spatial characteristics of Guangdong's OFDI and the investment focus. On the basis of the OLS method, this paper analyzed the location factors of Guangdong's OFDI by combining the data of the international panel pf the host country from 2007 to 2015. The research shows that: (1) The distribution of investment is extremely uneven, mainly in Asia, focusing on tax evasion, investment center moving westward along the latitude 23 °as a whole, the main source of investment for the Pearl River Delta region; (2) The main body, industry, and the mode of Guangdong's OFDI, are in diversified trend, private enterprises are the main investment, investment focus is the tertiary industry, and cross-border mergers and acquisitions is active; (3) The market, the level of science and technology of the host country are the main factors influencing the investment in Guangdong, the impact of the host system is relatively small, and the correlation between the cost and the agglomeration factor is not significant.

摘要： 针对近年来广东省对外直接投资的不断增长，本文基于历年广东省对外直接投资的流量、存量数据，引入重心测度模型，综合分析了广东省对外直接投资的时空特征及投资重心演变，并结合2007-2015年投资东道国国际面板数据运用OLS方法分析了广东省对外直接投资的区位因素。研究表明：（1）广东省投资分布极不平衡，以亚洲为主，重点流入避税地，整体投资重心沿北纬23°西移，投资来源地主要为珠三角地区；（2）广东省对外直接投资的主体、行业、方式等都呈多元化发展趋势，民营企业是投资主体，重点投资第三产业，跨国并购活跃；（3）东道国市场、科技水平、资源丰裕度是影响广东省投资的主要因素，东道国制度因素的影响相对较小，成本和集聚因素的相关性不显著。