| (1) Tolal value | (2) Tolal value | (3) Tolal value | (4) Tolal value | (5) Tolal value | |
| ofdi | 4.890*** (58.21) | −2.713*** (−12.63) | 1.324*** (5.35) | 1.324*** (5.35) | 1.324*** (5.35) |
| Capital density | −0.000180*** (−6.67) | −0.0000109 (−0.42) | −0.0000110 (−0.43) | −0.00000873 (−0.34) | |
| tfp | 0.814*** (35.80) | 1.064*** (43.94) | 1.064*** (43.91) | 1.066*** (43.97) | |
| export | 0.0886 (1.12) | 0.0611 (0.87) | 0.0613 (0.88) | 0.0587 (0.84) | |
| Foreign capital | 0.0801 (1.94) | 0.219*** (4.11) | 0.219*** (4.11) | 0.225*** (4.20) | |
| Year effects | No | No | Yes | Yes | Yes |
| Region effects | No | No | No | Yes | Yes |
| Industry effects | No | No | No | No | Yes |
| _cons | 7.097*** (146.88) | 5.045*** (77.13) | 4.332*** (57.74) | 4.332*** (57.72) | 4.313*** (56.81) |
| N | 2387 | 2387 | 2387 | 2387 | 2387 |
| t statistics in parentheses | |||||
| *p < 0.1; **p < 0.05; ***p < 0.01 | |||||