Study On The Impact Of Inflow FDI On China’s Insurance Service Trade

In the era of economic globalization,service trade plays an increasingly important role,and promoting service trade has increasingly become a key layout in the economic development of many countries.As a typical representative of the modern service industry,the insurance industry has emerged in the field of international service trade after years of growth.After China’s accession to the World Trade Organization(WTO),the scale of attracting foreign investment in the insurance industry has gradually expanded,affecting the development of China’s insurance service trade.This paper studies the impact of FDI on China’s insurance service trade from both macro and micro perspectives,based on the analysis of China’s insurance service trade and the inflow of FDI in the insurance industry.From a macro perspective,this paper selects the national insurance trade data from 2001 to 2020,and analyzes the impact of FDI on China’s insurance service trade through comprehensive calculation.The results show that the scale effect is that FDI can promote the growth of China’s insurance service trade,and It also expanded the trade deficit in insurance services;the market structure effect is reflected in the fact that the inflow of FDI helps the Chinese insurance industry to optimize market concentration and improve the level of intra-industry trade;the internationalization effect shows that expanding the opening of the insurance industry is a two-way reciprocal process,which not only facilitates foreign investment The entry of insurance companies into the Chinese market will also help Chinese-funded insurance companies "go global".From a microscopic point of view,this paper selects three foreign and joint venture insurance companies from ICBC-AXA of France,AIA Property Insurance of the United States,and Allianz of Germany JD.The influence path of insurance companies on insurance service trade,the research conclusions are as follows:ICBC-AXA is a typical representative of bank-based joint venture insurance companies with a strong shareholder background.Affects trade in insurance services;AIA Property&Casualty is the only wholly foreign-owned property insurance company in China.It expands territory in China’s insurance field for the purpose of expanding the market,and affects trade in insurance services through an industrial linkage mechanism;JD Allianz is an Internet-based joint venture As an insurance company,technology insurance is its business characteristic.The two major shareholders come together with the goal of strategic cooperation.After their establishment,they will affect the trade in insurance services through a technology spillover mechanism.Finally,according to the research results and conclusions,corresponding policy suggestions are put forward from the national macro level and the enterprise micro level.