Research On The Impact Of Trade Facilitation On China’s Mechanical And Electrical Products Export

In the past 10 years since the subprime mortgage crisis,the world economy has been plagued by slow productivity growth,and the prospects for economic recovery are not optimistic.At the same time,trade protectionism in the western developed countries has risen,trade frictions between countries have intensified,and the normal development of international trade has been seriously hindered.The country’s choice of trade policy presents challenges.Most developing countries,including countries along "the Belt and Road",are working to promote trade through trade facilitation measures.Trade Facilitation aims to create a transparent and predictable environment for international trade activities based on internationally recognized standards and practices,involving the simplification of customs procedures,the integrity of trade infrastructure and the coordination of trade laws and regulations and so on.Therefore,studying the influence of the grade of trade facilitation of the select fifty countries on China’s exports of mechanical and electrical products will not only help China expands its exports,but also help deepen the implementation of "the Belt and Road" initiative.The questions of this paper are:How much influence does the level of trade facilitation increase on the export of China’s mechanical and electrical products to the countries along "the Belt and Road"?How different the four indicators of trade facilitation affected the export of China’s mechanical and electrical products to the selected 50 countries along "the Belt and Road"?Does the trade facilitation level have the same impact on the export of mechanical and electrical products at different technological levels?Based on the above background,this paper firstly sorts out the research on trade facilitation by domestic and foreign scholars,then introduces the definitions of trade facilitation by major international organizations,and sorts out the relevant theories of trade facilitation.Secondly,analyzes the status of China’s exports of mechanical and electrical products to the countries along "the Belt and Road",mainly analyzing the three aspects of export scale,export market distribution and export commodity structure,and briefly analyzes the existing problems.Thirdly,select the panel data of the 50 countries along "the Belt and Road" from 2009 to 2016,using the port efficiency,customs environment,regulatory environment and financial and e-commerce four first-level indicators and their corresponding 16 secondary indicators through using principal component analysis measurement to estimate the level of trade facilitation in the countries along "the Belt and Road",leads to the conclusion that the level of trade facilitation in the countries along "the Belt and Road" is lower than that in developed countries and the regional differences are large and the development of trade facilitation measures is uneven.Finally,the extended trade gravitational model is used to empirically analyze the impact of trade facilitation on the export of China’s mechanical and electrical products to the countries along "the Belt and Road" in terms of overall effect,sub-indicator effect and sub-product effect.The empirical results of this paper show that the level of trade facilitation(TFI)of the selected 50 countries has the greatest impact on China’s export of mechanical and electrical products.The empirical results show that for every 1%increase in the level of trade facilitation of the fifty countries along "the Belt and Road",The trade amount of mechanical and electrical products will increase by 1.171%.Among the four first-level indicators,the degree of influence of each indicator on China’s export of mechanical and electrical products is also different.Among them,port efficiency has the greatest impact on the export of mechanical and electrical products to the countries along "the Belt and Road",For every 1%increase in port efficiency,the export trade volume of mechanical and electrical products will increase by 0.873%.followed by customs environment and finance and e-commerce.The regulatory environment has the least impact on the export of mechanical and electrical products,For every 1%increase in the regulatory environment,the export trade volume of mechanical and electrical products will increase by 0.366%.In the empirical analysis of sub-products,the level of trade facilitation has the greatest impact on the export of mechanical and electrical products in the medium-tech industry.In addition,the GDP,population size and openness of countries along "the Belt and Road" have a significant positive impact on China’s export of mechanical and electrical products.However,the distance between the capitals of the countries along "the Belt and Road" and China,The tariff levels have a negative impact on China’s export of mechanical and electrical products to countries along "the Belt and Road".