Resarch On The Efficiency And Potential Of China’s Import Trade From Countries Along The “The Belt And Road”

At present,the undercurrent of the world economic situation,the rise of trade protectionism and anti-globalization,the spread of the epidemic and the sweep of war are further promoting the reshaping of international relations,and the instability of China’s import trade continues to increase.In the 21st century,the Silk Road Economic Belt and the 21st Century Maritime Silk Road(hereinafter referred to as the Belt and Road),proposed by China,broke the isolation and oppression of China by some developed countries,and the trade flow between China and countries along the routes expanded rapidly.Therefore,in-depth and systematic analysis of the status quo,efficiency and potential of import trade between China and countries along the "the Belt and Road",and further discussion of the countermeasures to promote the further development of "the Belt and Road" trade,is of great practical significance for optimizing China’s import structure and realizing the deeper trade exchanges between China and countries along the "the Belt and Road".This article first analyzes the status quo and characteristics of China’s import trade from countries along the Belt and Road.Then,based on the panel data of China and countries along the Belt and Road from 2010 to 2021,it uses trade inefficiency model and stochastic frontier gravity model to analyze the factors affecting China’s import trade from countries along the Belt and Road.Moreover,the import efficiency and trade potential of China from countries along the Belt and Road are further calculated.The results show that: in terms of total trade,China’s trade with countries along the Belt and Road has been on the rise.From 2010 to 2021,China’s import volume has increased significantly,and China’s import volume from various regions has increased to varying degrees.Asean and West Asia and North Africa are the main regions for China’s trade import.In terms of trade structure,China’s imports of products from the regions along the Belt and Road have distinct regional characteristics.Countries along the Belt and Road have differences in industrial structure and resource endowment,among which energy-intensive products and capital-intensive products account for a large proportion.In terms of trade efficiency and potential,the efficiency of East Asia(Mongolia),ASEAN and CIS is higher,while the efficiency of West Asia,North Africa and South Asia is lower.China’s import trade from countries along the "One Belt and One Road" still has a large room for improvement.In terms of influencing factors,GDP and common language of both sides are significantly positively correlated with China’s import,while total population and distance between the two countries are significantly negatively correlated with China’s import.In addition,political stability,trade freedom and the signing of bilateral free trade agreements can significantly promote China’s imports from countries along the Belt and Road,while the opposite is true for investment freedom,and each factor has different effects on imports of different types of products.Finally,according to the research results,the article puts forward some policy suggestions from the aspects of trade structure,economic development,bilateral cooperation and free trade agreement.