Research on the Innovation of OFDI Models and the Enhancement of Cross-Border Trade Efficiency Based on Digital Platforms

With the accelerating development of platform-based digital economies, digital platforms are profoundly reshaping the outward foreign direct investment (OFDI) models of multinational enterprises, promoting a transformation from traditional capital-driven approaches to data-driven and platform-coordinated paradigms. Based on panel data of China’s bilateral OFDI and trade with the Belt and Road countries and 30 OECD countries from 2009 to 2023, this study constructs a theoretical framework of “Digital Platform Penetration – OFDI Model Innovation – Cross-Border Trade Efficiency” and empirically tests it using a two-way fixed effects model and a mediation effect model. The results show that a 1-percentage-point increase in digital platform penetration—measured by internet penetration rate and the share of platform-based service exports—leads to an average increase of 0.214 standard deviations in the OFDI model innovation index and improves cross-border trade efficiency—measured by export value per unit of transaction time—by approximately 3.7%. Further mediation analysis reveals that OFDI model innovation accounts for about 24.5% of the total effect of digital platforms on cross-border trade efficiency. Heterogeneity analysis indicates that these positive effects are more pronounced in countries with above-average ICT infrastructure and higher levels of digital regulatory freedom. The findings provide theoretical support and policy implications for China’s digital platforms to “go global,” optimize the structure of OFDI, and enhance integration into global value chains.