| Research object | Variables | Meaning | Data sources |
| ODFI | lnOFDI | The logarithm of the OFDI flows ($ 10,000) | China Foreign Investment Statistics Bulletin (2010-2014) |
| The financial development index 1 | FD1 | Private credit to GDP ratio | China Statistical Yearbook (2010-2014) |
| The financial development index 2 | FD2 | Stock market capitalization to GDP ratio | China Statistical Yearbook (2010-2014) |
| The financial development index 3 | FD3 | Loan balance of financial institutions as a share of GDP | China Statistical Yearbook (2010-2014) |
| The financial development index 4 | FD4 | Loan balance of non-financial institutions as a share of GDP | China Statistical Yearbook (2010-2014) |
| The level of economic development | lnPGDP | The logarithm of per capita GDP (100 million yuan) | National Bureau of Statistics website |
| Savings level | lnSAVE | The logarithm of every provincial savings | China Business Statistics Yearbook (2010-2014) |
| Attract foreign investment | lnFIA | The logarithm of the use of foreign capital | China Financial Yearbook (2010-2014) |
| Economic openness | lnEX | The logarithm of the export trade | National Bureau of Statistics website |