China's Export Commodity Structure Optimization Research

Since China start reform and open policy, it’s economy has made remarkableachievements especially in the field of foreign trade. The scale of China’s exports has beenexpanded, and China began to play an important role in the world trading system. However,while the rapid development of China’s foreign trade, many problems and challenges aregradually exposed. China’s total foreign trade leading does not mean that China has become atrade power, the main reason is China’s unreasonable export commodity structure.In the past, China’s export commodity structure focused on the traditional export ofprimary products, then changed into be mainly with the industrial exports of manufacturedgoods, and the internal structure of industrial finished products optimizes constantly, theproportion of capital-and technology-intensive products is increasing continuously. ButChina’s export commodity structure persists unreasonable: Firstly, the level of exports ofmanufactured goods is low and lack of independent innovation, processing trade is still themain; Secondly, the advantages of the traditional labor-intensive industries are challenged byneighbors; thirdly, export dependence is too high, terms of trade are deteriorating; Finally,China’s service trade exports compared to developed countries is seriously lagging behind.Unreasonable structure of export commodity has some connection with the industrialstructure, exchange rate fluctuations, research and innovation, foreign direct investment andresource endowment differences. Analysis the factors path as well as the use of Eviews forfive factors econometric analysis, draw the relationship between the structure of exportcommodities and various factors.In order to optimize the structure of export commodities of China, we should acceleratethe transformation and upgrading of the industrial structure, and continue to maintain thedevelopment of China’s traditional industries; moreover, we should increase investment inresearch and innovation, promote technological progress to further improve the technologicalcontent of export products; in addition, the foreign direct investment in the introduction andutilization of a more rational, more reasonable level so that China’s export commodities;regulate the structure of China’s export trade in services and speed up financial innovation inorder to make it more reasonabl.