A Research Of Export Tax Rebate On The Adjustment Of China’s Export Product Structure

With the continuous advance of reform, China’s economy is developing rapidly.As the main driving force of China’s economic development, export trade was also a miracle. The total volume of Chinese exports growed from 17 billion yuan in 1978 to 14 trillion yuan in 2014, World ranking of Chinese export trade rised to the 1st place,which has made China to become a great export trading country of the whole world..However, China’s export growth mode is still on extensive way. The products of high energy consumption, high pollution, resource consumption take most proportion of the export products. It result in directly the energy shortage, pollution and environment deficit. The adjustment of extensive export growth mode is particularly urgent in China,who are positively explores the sustainable low carbon model of economic development. At present, the export tax rebate has become the important trading means to transform the mode of trade development, promote energy saving and emission reduction. So, what is the mechanism of action that how export tax rebate influent the export products structure? And how will it impact the adjustment of China’s export products structure ? This paper intends to research on it to provide the reference opinions and ideas for the adjustment of China’s export products structure from the perspective of the export tax rebate.This paper have made a retrospection of literature on the research of the relationship between export tax rebate and export products structure domestic and abroad firstly. Secondly, that how the export tax rebate impact on the export products structure was analyzed on theory. And the influence mechanism from the perspective of tax effect, action mechanism was researched. And then, this paper analyze the present situation of China’s export products structure from the aspects of gross volume of export and export products structure, and research on the present situation of China’s export tax rebate on the from two aspects of development and impact on export trade of export tax rebate.. Furthermore, it makes an Empirical Research of the effect of export tax rebate on the adjustment of China’s export product structure though Cointegration Analysis, VAR Model Regression Analysis, Impulse Response Analysis, Variance Decomposition from two aspects of the whole industry and typical industry.Research shows that: the export tax rebate promotes the rapid growth of China’s exports and the change trends are similar. It reflects China’s orientation of industrial structure adjustment that export tax rebate impact on export product structure. From the whole industry point of view, there is a long-term stable equilibrium relationship between the export tax rebate and the adjustment of export product structure; Export tax rebate rate for manufactured goods exports of primary products representing a positive role in promoting; Export tax rebates on export product structure adjustment of short-term incentive effect is more pronounced; Export tax rebate makes more contribution to manufactured goods than that of primary products From the view of typical industry, the export tax rebate had different influence on different industries, capital and technology intensive industries get the maximum positive action,and then the labor-intensive industries, resource intensive industry get the minimum positive action. The export tax rebate on different industry keeps different role of delay, and the capital and technology intensive industry keeps the long-term effects. In addition, that the RMB real effective exchange rate, domestic GDP and foreign demand has different degree of influence for export products structure adjustment.Finally, this paper gives policy suggestion about how to adjust China’s export product structure through export tax rebate. It include: maintaining the stability of the export tax rebate policy and making differential export tax rebate rate.