Research On High-quality Development Of China's Processing Trade From The Perspective Of Comprehensive Advantages

Reports of the 19th National Congress of the Communist Party of China clearly point out that China's economy has shifted from high speed growth to high quality development and development stage.Foreign trade,as an important force to drive China's economic growth,should also achieve high quality development.But with the global trade shrinking after the international financial crisis in 2008 and the rising price of domestic labor,land and other factors,and the decline of environmental and resource carrying capacity,the bottleneck of China's processing trade development is increasingly prominent: low value-added rate,short domestic industry chain,and lack of self main innovation genes.At the same time,some developed economies are carrying out "re industrialization" and developing economy.China's processing trade orders will be accelerated outward.Therefore,under the changing economic situation at home and abroad,China's processing trade,as the key way for Chinese enterprises to embed the global value chain,has become increasingly prominent in terms of its high quality development,especially its advantages.It is of great theoretical and practical significance to explore the advantages of China's high-quality development of processing trade.Based on this,this paper first defines the connotation and index system of the high quality development of China's processing trade,and then from the perspective of comprehensive advantages,reconsiders the theoretical predicament and the practical trap of comparative advantage,constructs the comprehensive advantage index system of China's processing trade,studies its influence mechanism on the high quality development of China's processing trade,and explores the new driving force for the high quality development ofChina's processing trade.Therefore,this study not only provides a new perspective of trade theory analysis from the perspective of advantage dependence,but also provides a practical guide for achieving the high quality development of China's processing trade,and helps to promote the high quality development of China's open economy.In terms of theoretical research,on the one hand,this paper systematically combed the theory of comparative advantage which used to explain and guide the development of China's processing trade systematically,and found that:whether it has the comparative advantages of Ricardo's exogenous technology,Herschel-Orin's exogenous factor endowment,or Krugman's new trade theory's comparative advantages of scale economy and the endogenous comparative advantages of the New Classical School,These theories have many defects in explaining the source and development of comparative advantage of China's processing trade,which are manifested in more and more falsifications in theory,lack of effective solutions to the practical dilemma of "comparative advantage trap",and can't unify the development,Predicament and Countermeasures of China's processing trade under the same theoretical framework.On the other hand,on the basis of new classical economics,the theory of comprehensive advantage strategy is put forward in combination with the actual situation of China's economic development,and found that economic development depends on the factor endowments advantages(labor and capital),the advantages of division of labor and innovation(technology,industrialization level,etc.)and the advantages of transaction efficiency(various hardware facilities and supporting policies and measures).The bigger the comprehensive advantages,the stronger the competitiveness.That is,the products,enterprises or industries with the advantages of factor endowment,division of labor,innovation and transaction efficiency are the most competitive.The theory of comprehensive advantage strategy is more practical in the development of China's processing trade.Based on theoretical analysis,this paper puts forward three hypotheses:(H1-H3)factor endowment advantage,division of labor innovation advantage and transaction efficiency advantage play a significant positive role in the high-quality development of processing trade;(H4)factor endowment advantage,division of labor innovation advantage and transaction efficiency advantage play a role in the high-quality development of processing trade through the intermediary mechanism of comprehensive advantage;(H5)comprehensive advantage.Potential has played a significant positive role in achieving high-quality development of processing trade.In the aspect of empirical research,firstly,according to the above theoretical analysis,we construct and quantify the measurement index system of high-quality development and comprehensive advantages of China's processing trade;Secondly,the high quality development index and comprehensive advantage,natural endowment advantage,division of labor innovation advantage and transaction efficiency superiority score of processing trade were calculated by entropy method.Then,the empirical analysis is carried out from two aspects: one is to conduct time series analysis based on the data from 1998 to 2013 at the national level,and establish error correction model;the other is to take the provincial panel data as observation samples,and estimate the whole sample,regional sample and time sample respectively through the dynamic panel GMM(moment estimation)and intermediary effect model,and analyze the comprehensive advantages of China's processing trade The impact of high quality development.The empirical results show that: the comprehensive advantages of China's processing trade have the greatest impact on the development of high quality,and there are path dependence and self reinforcement.Improving transaction efficiency is an effective way to enhance the comprehensive advantages of processing trade;while China's processing trade is at the low end of the value chain,the factor endowment advantage has a more significant impact on the development of China's processing trade.In theeastern provinces and cities where the processing trade is more developed and after the time break point,the effect of division innovation advantage on the high-quality development of China's processing trade is slightly higher than that of factor endowment advantage and transaction efficiency advantage,which is related to the level of supply chain;And the impact of FDI on the development of China's processing trade is greater than that of the more developed eastern provinces and cities.The influence tends to weaken.Based on the above theoretical and empirical analysis,this study proposes four ideas for the high-quality development of China's processing trade from a new perspective of comprehensive advantages: the overall development of comprehensive advantages,the development of regional and industrial differentiation,the development of local leapfrogging and the development of new opening and win-win.Then,based on these four ideas,the paper puts forward the path of high-quality development of China's processing trade,that is,to define the existing advantages of factor endowment,division of labor innovation and transaction efficiency,and to cultivate new comprehensive advantages of China's processing trade: First,according to the regional differences and industrial differences,combined with the national regional development strategy,cultivate the regional comprehensive advantage industries and leading industries with comprehensive advantages,and improve the overall level of China's processing trade through dynamic industrial upgrading;second,promote the partial leap forward of factor endowment advantage,realize the "factor density reversal" of processing trade,and promote the partial leap forward of division of labor and innovation advantage The manufacturing upgrading of processing trade and the local leapfrog promotion of transaction efficiency advantage are realized by Yue style promotion;Third,we will improve the relevant supporting measures for opening up at home and abroad,With the help of one belt,one road initiative,we will improve the export product mix of processing trade,further optimize the structure of foreign investment,improve the regional orientation and industrial orientation of foreign investment,and achieve a new opening and win-win situation.