Abstract: Location selection is the most important factor in OFDI strategic decision-making, which determines the risk and success of an investment to a certain extent.This paper constructs a theoretical model to examine the influence of host country system quality factors on the OFDI location choice of a country,and uses panel data model to empirically analyze the influence of host country system quality, system quality sub index, and the distance between home country and host country system on China′s OFDI location choice by taking the countries along the belt and road as research samples.The results show that, compared with the quality of the host country system, the distance between China and the countries along “the Belt and Road” has a greater impact on the location choice of OFDI in China;although the influence of different dimensions of institutional quality on China′s OFDI location choice is different, China has low preference for political system quality and low legal system quality preference for OFDI along “the Belt and Road”, while the preference for high economic system quality is not significant;compared with the quality of the countries along “the Belt and Road”, the distance between China and the countries along the “the Belt and Road” system has a greater influence on China′s OFDI location preference.Therefore, China should make full use of the strategic opportunity of building “the Belt and Road” to carry out broader industrial cooperation with the countries along “the Belt and Road”, and further promote the development of “ South-South” investment, actively build “South-South” Cooperation Organization and promote the formation of the “South-South” cooperation mechanism.

Key words: “the Belt and Road”;institutional quality, institution quality distance, OFDI