Abstract: In recent years, China′s outward foreign direct investment and energy imports have increased rapidly, and they promote each other by judging from experience. Based on the data of China′s foreign direct investment and energy import in the past years of 2000-2014, the relationship between the two variables is tested by the 3SLS method. The results show that, on the whole, there is a two-way causality between China′s foreign direct investment and energy import, but this mutual promotion is evident to developing countries, while to developed countries it only shows that foreign direct investment will promote energy imports, and energy imports have no significant impact on China′s overseas direct investment in developed countries. Therefore, resource seeking OFDI has become and should become an important trend of China′s foreign direct investment, and Chinese government should encourage further increase direct investment in energy exploitation in the field of energy rich countries of state owned enterprises. In addition, investment in developed countries should also be strengthened to obtain reverse technology spillovers.

Key words: OFDI, energy import, 3SLS