| Variables | Sources | Description |
| Inward FDI | State Statistical Bureau | The FDI data include sub-national (sub-regional) and sub-sector data. |
| Tourists | Annual report on Tourism Statistics | Tourists include foreigners and Hong Kong, Macao and Taiwan compatriots. |
| GDP | World Development Indicators (WDI) | GDP (current US $). |
| Corruption | The Worldwide Governance Indicators | An evaluation of governance performance for a host country during 2000-2014, except for the years 2001 and indicators range from −2.5 (weak) to 2.5 (strong). |
| Fair Competition | The IMD World Competitiveness Yearbook | An evaluation of whether “competition legislation is efficient on preventing unfair competition” and indicators range from 0 to 10. |
| EPA Dummy | China Free Trade Area Service Network | EPA takes the value of 1 if it’s effective for more than five months in the year under consideration and 0 otherwise. |
| Per capita GDP | World Development Indicators (WDI) | Per capita GDP (current US $). |
| Taiwan Information | ROC Statistical Information Network | GDP & Per capita GDP (current US $). |