The Impact Of Economic Policy Uncertainty On The Technological Complexity Of China’s Exports

Since the reform and opening up,China has been actively developing foreign trade,and has achieved remarkable results,the economy has developed rapidly,and has established close trade relations with many countries and regions.When the quantity of foreign trade has been greatly increased,China has also paid attention to the importance of trade quality,actively carried out supply-side reforms,and hoped to improve the quality of export products,stimulate export technology innovation,and enhance China’s export competitiveness.As we all know,export technology complexity is an important indicator used to measure the competitiveness of a country’s or region’s exports.In recent years,many scholars have also studied the complexity of export technology,especially the influencing factors,and have given many guiding suggestions for improving the complexity of China’s export technology according to the research conclusions.At the same time,in the process of growing China’s trade volume,trade frictions with countries around the world have also emerged,especially trade relations with the United States have become elusive.In order to cope with the ever-changing trade situation,China’s trade policy and economic policy are also constantly changing,and this policy uncertainty has brought many difficulties and risks to China’s export enterprises.Therefore,in view of the above problems,this paper deeply studies the impact of economic policy uncertainty on the complexity of China’s export technology,helps the Chinese government to more clearly understand the impact of policy uncertainty on trade,and then improve the problem.Drawing on the models of scholars Xia Zhang,Bingzhan Shi,Yanan Wang,and Zecheng Jin(2019),this paper introduces the theory of Melitz(2003)on the basis of the general equilibrium theoretical framework,and analyzes the influence mechanism of economic policy uncertainty on the technical complexity of export products.In addition,this paper also sorts out the trade data from 2004 to 2019 according to the availability of data,uses appropriate measurement methods,conducts empirical research on the above impact mechanisms and inferences to support the conclusions of this paper,and conducts fixed effect analysis and robustness tests to ensure the robustness of the conclusions,and finally concludes that economic policy uncertainty inhibits the technical complexity of China’s export products and has a negative impact on China’s export trade upgrade.Finally,in view of the above conclusions,in order to make good use of the positive impact of the uncertainty of economic policies and prevent the negative impact of the uncertainty of economic policies on China’s export trade,this paper puts forward several suggestions: first,the government needs to pay attention to the cultivation of innovative enterprises,increase financing support for innovative enterprises,expand their financing channels,promote the injection of high-quality resources,encourage industry-university-research collaborative innovation,and create a good environment for innovative enterprises;Secondly,the government needs to guide scientific researchers to establish a dual-employment mechanism between schools and enterprises and institutes and enterprises to promote innovation and entrepreneurship of scientific researchers;Finally,companies also need to improve their own response measures and carry out risk management work to cope with economic policy uncertainty.