Research On The Innovation Of China-Mongolia-Russia Financial Services Trade Cooperatio

In the background of economic globalization and trade liberalization,the growth rate of global service trade has gradually surpassed goods trade and become the main component of international trade.Many countries and regions regard economy and trade as the most important direction,the high-quality development of service trade is an inevitable requirement for a country to move from a trading power to a trading power.Recently,trade in financial services born to be a new economic form,which plays an important role in boosting global economic development.China,Mongolia and Russia all three are important partners of the countries along the Belt and Road routes,so all three countries should play a role good model for other countries.They lay a solid foundation for Belt and Road and the development of the world economy.In recent years,the development and cooperation of financial service trade between China,Mongolia and Russia have been continuously optimized.However,despite the good development trend,the overall competitiveness of financial service trade among the three countries is weak,mainly due to the late start of the three countries,the three countries’ relatively closed market,improper supervision and other reasons.Therefore,in the view of the current situation of the development of China,Mongolia and Russia under the new situation,this paper makes a comprehensive measurement and assessment of the global development trends of the three countries,not only for our financial service trade healthy sustainable development,and for northeast Asia regional cooperation and opening to the outside world strategy is of great significance.This paper first reviews the literature review related to financial service trade at home and abroad.In addition,combined with the current background,the current development of the economy and the World Bank database,UCTAD database,WTO database and other departments.Based on the Porter diamond model,MS index,TC index and RCA index are used for comparing the economic development and financial service trade among China,Mongolia and Russia,then make a specialized analysation.Based on the conclusions drawn above and then exploring how to make further innovation in the cooperation of financial service trade between China,Mongolia and Russia,this paper gives the feasible paths and countermeasures of innovation.