American Export Control and the Global Resource Allocation Risk of China’s High-tech Industries

（School of economics and management，China Jiliang University，Hangzhou 310018，Zhejiang，China） Abstract：Under the background of the continuous strengthening of U.S. export control against China，China's high- tech industries are facing increasing risk of overseas resource allocation. The U.S. export control affects the global resource allocation of China's high-tech industry from the perspective of trade geographical space，industrial development potential，and technical cooperation opportunities. The author analyzes the global resource allocation level of China's high-tech industry from such three aspects as product allocation，capital allocation and technology allocation. Based on the statistical data from 2001 to 2018，it is found that：in terms of product allocation，the export of new products in China's high-tech industry accounts for a relatively high proportion of the sales revenue of new products，that means a strong dependence on the overseas market；in the allocation of R&D capital，the expenditure of internal R&D is far more than that of technology introduction，and the scale gap is growing；and in terms of the allocation of technical resources，although the absolute scale of overseas patent distribution has increased substantially，compared with the scale of domestic patent applications，the allocation proportion of overseas patent resources has gradually decreased. Apparently，the global capital allocation and technology allocation of China's high-tech industry becomes more and more introversive. In order to cope with the export control of the United States，China's high- tech industry has to， first，optimize the source of critical importing equipment，and expand the geographic space of resources allocation；second，it has to establish the overseas high-tech R&D center，and make innovation in the pattern of global resources allocation；third，it has to increase domestic investment in high-tech R&D，and encourage technological backflow with the help of capital outflow； fourth，it has to encourage the export of high-tech products，and promote the import of scarce resource products；fifth，it has to focus on the support on the sensitive technological industry，and fully improve the capability for overseas resources allocation； and sixth，it has to protect the legal interests of our multinational enterprises with the help of national force.

Key words：export control；high-tech industry；overseas business risk；global resource allocation