Research On The Trade Efficiency Of "One Belt,One Road" Countries

At present,China’s economy has entered a period of new normal.The state pays more attention to the quality of trade,that is,trade efficiency,when conducting trade.In 2013,President Xi Jinping proposed the "Belt and Road" initiative,which catered to the requirements of cooperation and development of the international community.Cooperation among countries was mainly achieved through trade.So at this stage,is China’s trade efficiency with the countries along the "Belt and Road" high or low?Are there any differences in the trade efficiency of different commodities?What are the factors affecting trade efficiency?Based on this,this paper uses the stochastic frontier gravity model to calculate the import and export efficiency of the countries along the"Belt and Road" and the import and export efficiency of major commodities.Then,through the analysis of trade theory,the "Belt and Road" "five links" indicator system is constructed.This article gets the factors that affect the trade efficiency between China and the countries along the "Belt and Road".Finally,based on the above studies,by combining the goals and tasks of China’s "Belt and Road" strategic vision and the needs of long-term development,the article further proposes the next stage of China’s"Belt and Road" differentiated policy recommendations for trade cooperation.This article mainly draws the following conclusionsFirstly,in terms of measurement of trade efficiency,Overall,China has inefficiency in its trade with countries along the "Belt and Road".The overall trade efficiency has slowly increased,but it is still low.Among them,export efficiency is better than import efficiency.From a regional perspective,the differences among regions are relatively small,and most of them are in a steady and slowly rising trend.Among them,East Asia and Southeast Asia have the highest export efficiency,followed by West and North Africa,Central and Eastern Europe,and Central Asia.The export efficiency of South Asia and the CIS region is very low.In terms of import efficiency,the regional differences are larger and more volatile.Finally,from the perspective of commodities,the development differences between the five major commodities empirically studied in this paper are not large.In 2017,the export efficiency was mostly at a high level Compared with the trade efficiency of major export commodities,the trade efficiency of major import commodities has not been significantly improved in recent years,and the import efficiency of the five categories of commodities is at a relatively low level.Secondly,in terms of influencing factors of trade efficiency,in the process of empirical analysis,with the five indicators of policy communication,facilities connectivity,trade unimpededness,financial connectivity,and people’s mind connectivity being added in sequence,the integrity of the model is gradually improved,and different indicators are being improved.There are significant differences in the significant status and influence in the export model;from the perspective of the commodity level,the factors affecting the import and export efficiency of different categories of goods are different,and the efficiency factors in the import and export of the same category of goods are also not the same.At the same time,through the combination of theoretical and empirical research,it can be confirmed that the Belt and Road "Five Links" has a significant role in improving the trade quality between China and the countries along the "Belt and Road" and should be further promoted.