Research On The Impact Of RMB Exchange Rate Change On China's High-tech Products Export

China is the world's largest trading nation.In 2017,China's total trade volume surpassed that of the us for the first time,reaching us$4.1052 trillion,ranking first in the world.Among them,the export volume ranks top in the world.With the continuous increase of China's export volume of goods,the RMB exchange rate issue has become a very sensitive topic,which has attracted worldwide attention.However,among the various types of China's export commodities,they are mainly low-technology products with low added value and low international competitiveness,which are incompatible with the rising status of China's economic development.With the continuous development of science and technology in China,industrial development has begun to target high value-added products.High-tech products,as typical high value-added products,have a good role in promoting economic development.High-tech exports increased by about $700 billion between 2001 and 2018.In the context of exchange rate fluctuations,the study on the impact of RMB exchange rate fluctuations on the export trade of high-tech products is in line with the current situation of the reform of global division of labor in China and plays a certain role in promoting the construction of an innovation-oriented international market competition environment.This article is based on the research results of scholars at home and abroad,with the theory of elasticity analysis,incomplete transfer theory,the time lag effect theory,and the theory of monetary analysis theory and the analysis of the competitive advantage,overcome the shortcomings of previous studies,first analyzes the RMB exchange rate changes and basic situation of China's high-tech products exports,clear the RMB exchange rate changes to new high-tech product export trade influence mechanism;Secondly,empirical analysis is conducted on the impact of RMB exchange rate fluctuations on China's high-tech product export trade to obtain the actual impact of RMB exchange rate fluctuations on high-tech product export trade.Finally,the paper summarizes the effects of different directions of exchange rate fluctuations under different pass-through mechanisms and different pass-through degrees on the export of China's high-tech products,clarifies the research conclusions of this paper,and puts forward some Suggestions and countermeasures on how to promote the development of China's high-tech product export trade based on the above research.Through the study of this article,the results show that:(1)the development of the RMB exchange rate system in China to reform and open policy for the node to form the development of the two different cases,after the reform and opening up,the RMB exchange rate system in our country has experienced five stages of development,since 2005,our country to realize the innovation of RMB exchange rate,formed in the international currency floating exchange rate system for reference.(2),respectively,from the yuan's nominal exchange rate fluctuations and the effective exchange rate movements were analyzed,and the results show that RMB nominal exchange rate relative to different currencies,the RMB exchange rate fluctuations,the RMB real effective exchange rate has risen in recent years,then a devaluation,range is larger,the biggest change rate can reach 9.67%.(3)is continuously increasing scale of Chinese hi-tech products export trade,exports are mainly composed of computer products,export commodity type significantly uneven phenomenon,exports are mainly concentrated in Hong Kong,the United States,the European Union and other regions,mode of trade mainly in the processing trade and general trade,export enterprises type is mainly a wholly foreign owned enterprise,other types of enterprises increased year by year.(4)the influence mechanism of RMB exchange rate fluctuation on high-tech product export mainly focuses on the indirect influence mechanism and the direct influence mechanism,so as to realize the change of high-tech product export quantity and finally affect the change of the total value of import and export.(5)based on empirical analysis,this paper studies the impact of RMB exchange rate fluctuations on the export trade of high-tech products in China.The results show that RMB exchange rate fluctuations have a certain time-lag effect on the export of high-tech products,and the RMB effective exchange rate has a certain negative effect on the export of high-tech products.(6)based on the impact of RMB exchange rate fluctuations on China's high-tech exports,the paper proposes promotion Suggestions from three aspects,namely,exchange rate adjustment policy,trade promotion policy and high-tech industry development.