Research On China’s Export Trade Potential Of Medical Device Products

The medical device industry is related to people’s health and national medical and health care development.Since the outbreak of the COVID-19,the medical device industry of China has become one of the most active industries in terms of import and export trade.However,the export trade of China’s medical device industry is still facing problems such as a relatively single export structure and overly concentrated export markets.In this regard,on the basis of continuing to consolidate the traditional medical device market,it is necessary for China to actively explore emerging international markets and release new trade potential.Therefore,it is important to explore the export trade potential of China’s medical equipment products.And the excavation of importing countries with the optimal value of medical device export potential for key exploration and development,is of great significance in guiding China’s medical device export trade for reasonable development planning,exploring more potential export markets,enhancing the efficiency of China’s medical device export trade and expanding the growth space of export potential.This paper firstly analyzes the current situation of China’s medical device export trade from four aspects: export trade scale,export product structure,export trade competitiveness and export market distribution based on relevant statistics of China’s medical device product export trade.Then,based on the panel data of China’s export trade partners with 55 major medical devices from 2002-2019,a time-varying stochastic frontier gravity model is constructed to empirically analyze the influencing factors and potential of China’s export trade of medical device products.The empirical results show that the six variables of China’s GDP,the GDP of the importing countries,the signing of Free Trade Agreements,Trade Freedom,Investment Freedom and Health Expenditure per capita in the importing countries are significantly positively correlated to China’s exports of medical device products.Distance,Government Efficiency and Political Stability are significantly negatively correlated to China’s medical device export.Finally,based on the quantitative results of the empirical study,the trade efficiency and potential of China’s medical device products exported to various countries are measured,and India and Japan are found to be the two countries with the highest trade potential for China’s exported medical device products,and the sample countries are divided into four different types of markets to propose differentiated export strategies.In particular,China’s medical device industry should focus on exploring and developing countries such as India,Russia,Canada and other potential markets to be tapped,China’s medical device product export trade development potential in these countries has not been fully released,there is still a lot of room to expand the growth of medical device exports.Based on the empirical analysis and calculation results,combined with the realistic background,this paper puts forward targeted policy recommendations such as optimizing the export structure,increasing the added value of medical device products and cultivating export competitive advantages;actively exploring new international markets to fully explore the export potential of medical device market;focusing on supporting potential trading partner countries to be explored to enhance the efficiency of medical device exports;and formulating differentiated trade policies based on different types of export potential markets to enhance the export potential of medical device products in China and thus promote the export trade development of medical device industry.