Research On The Export Trade Potential And Trade Efficiency Of Manufacturing Industry Between China And RECP Countries

The Regional Comprehensive Economic Partnership Agreement(RCEP)was first initiated by ASEAN in 2012,and after 8 years of efforts,it is a tariff agreement jointly signed by 10 ASEAN countries including China,Japan,South Korea,Australia,Singapore,and ASEAN.Its impact will be comparable to that of the North American Free Trade Area and the European Union’s customs union;Covering approximately 2.3 billion people,the total GDP has reached$25 trillion,accounting for 25% of global trade.This makes RCEP,once implemented,the largest and most economically influential free trade agreement in the world.China is a truly big manufacturing country,and manufacturing has made great contributions to the sustained prosperity of China’s foreign economy.Made in China 2025 is the theme of the national economy,the foundation of building a country,the instrument of rejuvenating a country,and the foundation of a strong country.Therefore,exploring the manufacturing trade potential and trade efficiency between China and RCEP member countries is of great significance.This paper takes the export trade of China’s manufacturing industry as the entry point,selects 15 RCEP member countries as the research objects,uses the panel data from 2002 to2020,takes the time-varying stochastic frontier Gravity model as the main model,takes the trade inefficiency model as the secondary model,and uses relevant statistical methods to conduct an empirical analysis of China’s manufacturing export trade,and based on this,discusses the export trade efficiency and trade potential of China’s manufacturing industry.In the empirical analysis,we selected economic size,population size,geographical distance,whether the same first language is used,and whether there is a common border as the main explanatory variables.We found that there is a significant positive relationship between bilateral economic size and trade volume,the population of each RCEP member country,and the population of both sides and trade volume,while there is a significant negative relationship between geographical distance and trade volume,And using the same language and common borders can improve the level of bilateral trade.At the same time,this article selects government efficiency,corruption control,liner transportation index,export unit price index,and import unit price index as the influencing factors of non efficiency in trade for empirical analysis.It is found that higher government efficiency,higher corruption control ability,higher liner transportation index,and higher export and import unit prices can reduce trade resistance and improve trade efficiency.Based on the previous text,this article provides the following policy recommendations:strengthening cultural exchanges between China and RCEP member countries;Maintaining efficient government efficiency;Continue to promote infrastructure construction projects and improve transportation convenience;Improving the level of cooperation with RCEP partner countries should be tailored to local conditions and treated differently.