Impact Of APEC Major Members’ Trade Facilitation On China’s Exports

With the acceleration of the process of economic globalization, global trade has boomed quickly. At the same time trade facilitation has been playing an important role in the course of promoting international trade. It is also one of the hottest spots in today’s free trade agreement negotiations.APEC is one of the earliest regional economic organizations to promote trade facilitation. China’s research on trade facilitation was beginning from 1991 when China joined in APEC. Therefore, this paper has a certain practical significance. This paper mainly evaluates the degree of trade facilitation about APEC’s major countries or regions and its effects on China’s export. With a quantitative research method, the paper respectively calculates the facilitation level of such a trade from 2010 to 2014 based on panel data of 19 APEC countries and regions. Firstly, this paper uses literature research to expound the connotation of trade facilitation and its benefits. Secondly, by analyzing the China’s export trade status to APEC’s major countries and regions, this paper has found out in which way the trade facilitation will influence the bilateral trade. Thirdly, according to global business survey data, this paper measures the trade facilitation by four indicators:port efficiency, customs environment, regulatory environment and electronic-business including 16 second indicators and uses the factor analysis to extract the indicator of trade facilitation. At last uses this method to calculate the index of trade facilitation and selects the panel data of 2010,2011,2012,2013,2014 and 19 countries and regions, using gravity model to analyze the effect of trade facilitation on the export of China. The study shows that:(1) China’s trade facilitation level is in the middle of APEC members and there is still a big gap between China and developed economies. (2) Trade partners’economies scale, tariff and trade facilitation have a significant positive effects on bilateral trade. (3)Trade facilitation has more positive effects than tariff cuts on the growth of exports. Therefore it is concluded:welfare effects of trade facilitation will exceed trade liberalization and trade facilitation will become another important development direction of economic globalization.At the end, this paper summarizes the shortcomings of China’s trade facilitation. Suggesting that China should realize the promoting effect of trade facilitation on trade flow.