Research On The Impact Of EU Trade Facilitation On The Export Potential Of Chinese High-tech Products

High-tech industry is the cutting-edge industry in manufacturing industry and the main force of a country’s economic growth.In April,2021,the data released by the National Bureau of Statistics showed that the high-tech manufacturing industry continued to maintain a strong growth trend,and China’s industrial structure continued to be optimized.A series of eye-catching data showed that the conversion of new and old kinetic energy in China continued to accelerate,and the innovation in the economy became more abundant.As the economic recovery continues to advance,the prosperity of high-tech industries will continue to improve.As early as 2004,the European Union surpassed the United States to become the largest trading partner of China’s high-tech products-the total trade volume between the two sides reached 54.96 billion US dollars.As the world’s leading export giants of high-tech products,China and the EU both attach great importance to the development of high-tech trade cooperation with each other,especially China pays close attention to the imbalance of the trade structure of high-tech products between the two sides.The WTO adopted the Trade Facilitation Agreement in 2013,and China accepted it in 2015;At that time,it did not come into effect because less than two-thirds of WTO members accepted the agreement.Until February 2017,the number of member countries that accepted the agreement reached 112,and the agreement came into effect.In order to actively respond to the national policy,the author tries to focus on China’s high-tech products trade from the perspective of trade facilitation,and deeply analyze the influencing factors and trade potential of China’s high-tech products in the EU market;Under this topic,it will not only improve the development of China’s own high-tech industry qualitatively,but also make a quantitative leap in Sino-European trade.The innovation is mainly reflected in taking high-tech products as the research object.Although they still belong to the manufacturing industry,the positioning of high-tech products is more accurate and clear,and they are the backbone of promoting China’s economic take-off.Furthermore,this paper is based on the traditional trade gravity model,and optimized by the stochastic frontier gravity model,which has the bright spot of model innovation in measuring trade potential.Finally,the content design of this paper is more perfect,combining macro and micro,and analyzing index dimension and national dimension separately,which makes the analysis more thorough.By constructing the facilitation indicators affecting China’s foreign trade,the indicator system is constructed from multiple dimensions,including 4 first-level indicators and 16 second-level indicators,covering four aspects: infrastructure,customs environment,institutional environment,financial and e-commerce environment.The weight is calculated by principal component analysis with SPSS,and then the comprehensive score of trade facilitation level of 27 EU countries from2008 to 2019 is obtained through standardization calculation,and the analysis is made from the indicator dimension and national dimension.From the empirical point of view,innovative variables are introduced,and double models are used for measurement and analysis.First,the traditional gravity model makes regression analysis from the overall index and the single index,which verifies the subsequent trade inefficiency model to measure the trade efficiency between the two sides.The logic is clear and the structure is rigorous.Finally,the Frontier model and the time-varying stochastic frontier model are used to investigate the impact of trade facilitation indicators on the trade efficiency and trade potential of high-tech products between China and Europe.The results show that improving the trade facilitation in EU countries has a positive impact on the trade of hightech products between China and Europe,but the impact is different for the first-level indicators of trade facilitation,among which the infrastructure and financial e-commerce environment are significantly negatively correlated with the trade inefficiency at a significant level of 1%,indicating that the improvement of these two indicators will greatly promote the trade of high-tech products between China and Europe.Finally,based on the above research results,this thesis gives relative suggestions on China’s export of high-tech products to EU.