Research On The Influence Factors Of Service Export Sophistication

The report of the 19 th CPC National Congress pointed out that China should establish a modernization economic system."Modernization" indicates that Chinese economic development mode will grow from high-speed but extensive growth to high-quality and high-efficiency growth.In addition,to establish a modernization economic system,it is necessary to promote a new pattern of comprehensive opening,and China will deeply integrate into the world economy.At present,the world economy is undergoing rapid transformation and has entered the era of service economy.The development of service industry has become more and more important in the economic growth of many countries.In fact,not only the "quantity" of exports has a significant impact on economic growth,but also the "quality" of exports.However,although Chinese service export is growing at high speed,the trade structure is not balanced,and the level of export technology is also low.Sino-US trade friction has become a hot topic in recent years.While paying attention to this topic,we can also see the differences in service trade between the two countries over the years.In addition,the United States has always been the world’s largest service trade country and has long been in the world’s number one position.Therefore,China can learn a lot from its successful development experience in service trade.This paper selects the service trade export sophistication to measure the competitiveness of service trade and compares the service trade of China and the United States.This paper tries to provide reliable and feasible policies and suggestions for promoting the sustainable development of Chinese service trade.The paper firstly analyzes the status quo of service trade of China and the United States,constructs the index of service export sophistication,and then studies the differences of the service level of China and the United States and the influencing factors.Econometric regression analysis based on multinational panel shows that per capita consumption,foreign direct investment,R&D investment,human capital and service trade openness all contribute to the increase of service trade export sophistication.However,the degree of influence of various factors is different,and the impact of per capita consumption is the most significant.Grey Relational Analysis shows that per capita consumption has most important impact on the sophistication of service trade exports,followed by foreign direct investment.This paper gives the following suggestions on how to optimize the export technology structure and improve the technical level of Chinese service trade export: maintaining steady economic development in China;accelerating service industry development;actively utilizing FDI;attaching importance to the development of human capital and scientific research;developing new technologies,new areas and new models for trade in services.