Research On The Influence Of Digital Finance On The Export Technology Complexity Of China’s Manufacturing Industry

With the deepening of globalization,China actively carries out international trade on the platform of reform and opening up,and its export trade shows a strong momentum of growth.Although the current scale of our manufacturing export is large,the technical content of export products is not high,and the core competitiveness has not been significantly improved.In recent years,with the weakening of China’s traditional competitive advantages and the impact of the COVID-19 pandemic,the development of China’s export trade is facing great pressure.The 14 th Five-Year Plan proposed that China should accelerate the development of foreign trade.Therefore,how to increase the added value of Chinese manufacturing trade and promote the technical complexity of Chinese manufacturing export has a strong realistic urgency.At the same time,the emergence of digital finance has brought convenient and efficient financial services,which can theoretically reduce financing costs and ease the financing difficulties of enterprises,thus promoting the technological upgrading of manufacturing exports.Therefore,this paper aims to study the impact of digital finance on the technical complexity of manufacturing export,which has important theoretical and practical significance for promoting the high-quality development of our foreign trade.First of all,based on the Digital inclusive Finance index released by the Digital Finance Research Center of Peking University,this paper analyzes the development status of China’s digital finance from 2011 to 2021.At the same time,it calculates the technical complexity of manufacturing export in Chinese provinces and analyzes its changing trend.Then,from the theoretical perspective,it puts forward the mechanism of digital finance affecting the improvement of technical complexity of manufacturing export.Finally,based on the panel data of Chinese provincial level from 2011 to 2021,the empirical study is carried out,and the main conclusions are as follows: First,in recent years,Chinese digital finance index and manufacturing export technology complexity generally show an increasing trend,and there are differences among different provinces,with the overall characteristics of high in the east and low in the west.Second,digital finance can affect the technological complexity of manufacturing export by improving the level of human capital,foreign direct investment and technological innovation effect.Thirdly,the empirical results show that the development of digital finance significantly improves the technical complexity of Chinese manufacturing export,and the conclusion remains valid after the robustness test.According to grouping regression,this effect has obvious regional heterogeneity and dimensional heterogeneity of digital amount.The degree of digitization has the strongest effect on the improvement of export complexity,followed by coverage breadth and use depth.The intermediary effect test shows that digital finance does have a positive impact on the technological complexity of export by promoting the level of human capital,technological innovation effect and foreign direct investment.Finally,based on the research conclusions,this paper proposes to develop digital finance according to local conditions and promote its high-quality development,so as to better play the advantages of digital finance,and improve the technological level of Chinese manufacturing export through attracting foreign direct investment,training innovative talents and other measures,so as to promote the export trade to achieve high-quality development.,has important theoretical and practical significance..