A Study On Trade Competitiveness And Complementarity Between China And Singapore

Since the establishment of diplomatic relations between China and Singapore in1990,bilateral relations between China and Singapore have made rapid progress.As an important country in The Belt and Road Initiative,the study of bilateral trade relations between China and Singapore is of strategic significance to the economic development of China and Singapore.This paper analyses the bilateral trade data of China and Singapore since the establishment of diplomatic relations,and compares the trade shares of different commodities in trade to analyze the changes of trade structure of commodities.It also calculates the trade dependence between China and Singapore,and analyses the economic impact of bilateral trade on China and Singapore.Export similarity,indicative comparative advantage index,trade complementarity index and intra-industry trade index are used to analyze the trade relationship between China and Singapore.Through analysis,it is found that since the establishment of diplomatic relations between China and Singapore,bilateral trade has shown a trend of growth,and China has been in a trade surplus with Singapore.In addition,through the analysis of export similarity and indicative comparative advantage index,these countries have comparatively similar categories of products with comparative advantage.The degree of similarity of export products is very high,trade competition is relatively strong.The trade complementarity between China and Singapore needs to be strengthened.The products with complementary are limited,and the level of complementary index is not high.Intra-industry trade in manufactured goods,which dominates trade,is relatively low.Therefore,Sino-Singapore trade should facilitate the trade environment through various means and channels,optimize the structure of trade products,and turn trade competitiveness into complementarity.