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In the process of economic development, foreign investment plays an important role. However, with the entry of foreign capital, China's environmental problems are growing. The level of environmental regulation in China in order to protect the environment, improve the environmental cause has been steadily progressing. With the improvement of the level of environmental regulation in China, whether it will affect the inflow of foreign capital, affect the extent of how much we need to study the problem. Especially Jiangsu and Guangdong, as the concentration of foreign investment in China, the study of environmental regulations on foreign direct investment more meaningful. In this paper, the theoretical and empirical combination, the combination of qualitative and quantitative methods, pay more attention to the application of the measurement method. The main content of this paper include the following contents: research background, significance and relevance of literature review; Environmental Regulation and FDI theory analysis, including: externality theory, the theory of foreign direct investment, and the pollution haven hypothesis and the Porter hypothesis; Jiangsu Province and Guangdong Province, foreign direct investment in the overall trend analysis, industry distribution analysis and regional distribution analysis; environmental regulation basic situation analysis, including the promulgation of the environmental standards, environmental regulations and environmental administrative regulations made the purposes as well as environmental protection effectiveness analysis; Jiangsu Province and Guangdong Province environmental regulatory system comparative analysis affect the time-series data on foreign direct investment; panel data analysis of the urban dimension of Jiangsu Province and Guangdong Province, Jiangsu and Guangdong provinces, sub-regional panel analysis to examine the different effects of different area of ??environmental regulation on FDI; According to the paper concludes foreign and environmental policy recommendations. According to the correlation analysis of this paper, we draw the following conclusions: first, Jiangsu and Guangdong provinces, foreign direct investment and environmental regulation, we found that foreign direct investment in the Jiangsu and Guangdong provinces are more concentrated in the manufacturing sector. In the spatial distribution of foreign direct investment in Jiangsu Province are mostly concentrated in the southern region, foreign direct investment in Guangdong Province, mostly concentrated in the Pearl River Delta region. Effectiveness from the environmental point of view, the effectiveness of Jiangsu, Guangdong effectiveness more significantly, Guangdong environmental protection needs to be improved. The sewage fee collection Jiangsu Province Guangdong collect total and pay rates than higher. Second, according to the analysis of time series data, the level of environmental regulation to improve will reduce the foreign direct investment inflows. At the same time, we found that the Guangdong Province of environmental regulations on foreign direct investment affect Jiangsu Province. Foreign investment in Guangdong Province, a higher sensitivity to environmental regulation. Third, cointegration test and Granger causality test, we found that foreign direct investment and environmental regulation, the cost factors, market factors, transaction costs and the outside market, the extent of these factors is in a steady state for a long time. However, the Jiangsu Environmental Regulation and the foreign direct investment between Granger causality does not exist. The Guangdong Province FDI Granger cause of environmental regulation. Fourth, through the city level panel data analysis, we found that in Jiangsu province, southern Jiangsu Environmental Regulation a greater impact on foreign direct investment; Guangdong province, the mountainous areas of environmental regulation greater impact on foreign direct investment. Finally, based on the above analysis, the authors put forward some policy recommendations for attracting foreign direct investment and environmental regulation.
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