Research On The Competitiveness And Complementarity Of High-tech Manufacturing Products Trade Between China And CPTPP Countries

High-tech manufacturing is crucial to optimizing industrial structure and enhancing comprehensive national strength.China’s formal proposal to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP)will bring new challenges and opportunities to China’s high-tech manufacturing trade.Based on the HS6 data of CEPII-BACI database from 2002 to 2020,this paper analyzes the trade competitiveness and complementarity of high-tech manufacturing industry between China and CPTPP countries by using Revealed Comparative Advantages Index,Export Similarity Index and Trade Complementarity Index.The results show that compared with CPTPP countries,China’s high-tech manufacturing industry is in the overall competitive advantage,only lower than Singapore in the pharmaceutical industry,and lower than Japan in the medical,instrument and information chemicals industry.The export similarity index with CPTPP countries is generally low and has little dynamic change,and the degree of competition is relatively mild,but the competition in electronic communication equipment,computer and office equipment manufacturing is relatively fierce.China’s high-tech manufacturing products show strong export complementarity to CPTPP countries,especially pharmaceutical manufacturing products.The ARIMA model shows that such complementarity will remain at a high level in the next ten years,but the export complementarity to Brunei and Vietnam shows a downward trend.Through the fixed effect model,it is found that the establishment of bilateral free trade zones is conducive to improving the export complementarity of China’s high-tech manufacturing industry to CPTPP member countries,and too large difference in economic development level will not be conducive to bilateral trade behavior.Geographical distance is no longer the main factor affecting export complementarity,and the improvement of digital level will also promote the development of China’s high-tech manufacturing trade.However,there is industrial heterogeneity in the above research results.Therefore,when applying for CPTPP,China should according to the competitive and complementary characteristics of high-tech manufacturing products as well as the future development trend,vigorously expand the market scale of competitive high-tech manufacturing products,improve the international competitiveness of disadvantageous high-tech manufacturing products,and maintain the level of cooperation of complementary products,so as to cope with the market impact brought by joining CPTPP.