Research On The Influence Of Intermediate Goods Import On Chinese Enterprise Innovation

In recent years,the global economy has fallen into a downturn and international competition has become increasingly fierce,posing serious challenges to our economic development.In response,China recognises the need to strengthen its science and technology innovation capabilities in order to promote economic transformation and upgrading and achieve long-term healthy development.Since its accession to the WTO,China has actively pursued a policy of trade liberalisation,encouraging enterprises to participate in global trade and to effectively utilise external technological resources to enhance its own technological development through the introduction of high-quality intermediate goods and technological spillovers.This has not only provided more development opportunities for enterprises,but also opened up more possibilities for them to carry out various types of technological innovation activities in the new era,better catering to the innovation development strategy and thus promoting the progress of China’s economy and society.Therefore,under the current domestic and international situation,how to better use the import of intermediate goods to drive the innovation capacity of enterprises has become an important issue facing China.In order to study the impact of intermediate goods import on enterprise innovation,this paper discusses in detail the research background,significance,ideas,methods and shortcomings from the perspective of theory and current situation;secondly,it makes an in-depth sorting and summary of the research theory of this paper in conjunction with relevant literature.After that,this paper introduces the current situation of China’s import trade of intermediate goods and enterprise innovation,which is outlined from three aspects: the scale of intermediate goods import,Chinese enterprises’ innovation input and innovation output.The paper then explains the theoretical mechanism through which imports of intermediate goods affect firm innovation,through three pathways:technology spillover effect,market expansion effect and quality effect.Finally,this paper presents a review of the current state of research and development of digital intermediates,which provides a theoretical basis for the empirical research in the following section.In the empirical research section,this paper firstly explains the data sources,the data screening process and the selection of relevant variables.Secondly,this paper chooses the empirical method of PSM-DID to test the overall impact of intermediate goods imports on firm innovation in order to avoid possible problems of selectivity bias and confounding bias.After that,this paper conducts robustness tests through different methods to reduce the bias caused by unknown factors on the findings and to ensure the robustness of the empirical results.Again,this paper performs heterogeneity tests through sub-sample regression.Finally,this paper tests the mechanism of the influence of intermediate goods import on enterprise innovation through a mediating effects model,which verifies the hypotheses proposed in the theoretical part.After the empirical study,the following conclusions are drawn:(1)Imports of intermediate goods have a catalytic effect on enterprise innovation,and this catalytic effect is sustainable.(2)Digital imports of intermediate goods can also significantly promote enterprise innovation,and its promotion degree is greater than that of general imports of intermediate goods.(3)Enterprises engaged in general trade import intermediate goods to improve their own innovation capacity.(4)Importing high-tech intermediate goods can promote enterprise innovation.(5)Imports of intermediate goods can significantly promote innovation in firms in non-technology-intensive industries.(6)Imports of intermediate goods can indeed promote firm innovation through technology spillover effect,market expansion effect and quality effect.Finally,based on the empirical findings,this paper puts forward relevant policy recommendations: encouraging enterprises to import high-quality intermediate goods;continuously promoting a high level of opening up to the outside world to facilitate the stability of intermediate goods import trade;improving the guidance mechanism for enterprise innovation;increasing government financial investment to provide support for enterprise innovation;optimizing the digital trade environment and reducing digital trade barriers.