Under the background of transitional economy,foreign direct investments（FDI） is one of the vital factors to promote the sustainable economic growth in China.The paper conducted an empirical analysis on time series of FDI,China＇s domestic investment and economic growth during the period of 1985-2010.The results indicate that FDI and domestic investment has significant effect on economic growth.Both are the Granger cause of GDP.There is a long-run equilibrium relationship with economic growth,but FDI has less impact on economic growth than domestic investment.And there also exits Crowding-in-Effects between FDI and domestic investment.%经济转型背景下,中国经济持续增长的一个重要原因是引入外商直接投资。本文对1985年-2010年中国外商直接投资、国内投资与经济增长的总量时间序列数据进行了实证分析。结果表明：FDI与国内资本对我国的经济增长的影响显著,都是GDP的格兰杰原因,与经济增长存在长期均衡关系;但FDI对经济增长的影响小于国内资本,并且FDI与国内资本还存在相互挤入效应。
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