The Study Of Influencing Factors On Economic And Trade Cooperation Between China And "Belt And Road" Countries

Upholding the spirit of the ancient Silk Road,the "Belt and Road" is changing from a Chinese initiative to a global action,and it has become a great practice to build a community with a shared future for mankind.The joint construction of the “Belt and Road” has become an international public product that has attracted worldwide attention and is widely welcomed.China proposes to build a new development pattern,focus on the economic and trade cooperation of the "Belt and Road",and promote the high-quality development of the "Belt and Road",which not only provides new opportunities for the development of countries in the world,but also opens up new horizons for China’s opening up and development.However,due to the different historical,cultural traditions and social systems of the countries along the “Belt and Road”,there are differences in the interests and security demands of each country.In addition,the media in countries such as the United States and individual countries along the “Belt and Road” are hyping up the "China Threat Theory" and deliberately creating a sense of hostility,which greatly increases the transaction costs of China’s foreign economic and trade cooperation.Therefore,in the process of advancing the high-quality development of the “Belt and Road”,analyzing the influencing factors of economic and trade cooperation between China and the countries along the “Belt and Road” and improving the quality of economic and trade cooperation has become a key and hot issue that urgently needs in-depth study at this stage.Research on this issue can not only make up for and improve the insufficiency of academic research on the influencing factors of economic and trade cooperation between China and the countries along the“Belt and Road”,but also provide scientific and reasonable measures for optimizing the quality of economic and trade cooperation between China and the countries along the“Belt and Road”.First of all,this paper uses the literature deduction method to systematically comb and analyze the relevant theories and empirical research on the influencing factors of international trade,international investment and international engineering contracting cooperation,and then introduces the overview of China’s economic and trade cooperation with countries along the "Belt and Road" in detail.The analysis found that with the promotion of China and the participation of countries along the “Belt and Road”,the cooperation framework between China and the countries along the “Belt and Road” has been gradually established,the cooperation foundation has been deepened,trade exchanges have continued to grow,foreign investment has continued to expand,and project contracting and construction have been steadily established.There is still a big gap between the total amount and non-Belt and Road countries,but the growth rate is significantly faster than that of non-Belt and Road countries.Secondly,this paper constructs an analysis framework of the factors affecting economic and trade cooperation between China and the countries along the "Belt and Road" from three aspects: the relationship between the host country and the home country,the host country’s institutional factors,and the host country’s resource endowment factors.This paper conducts empirical tests on the influencing factors of trade cooperation,investment cooperation and engineering contracting cooperation between China and the countries along the "Belt and Road".The study found that in terms of trade cooperation,the large economic volume,high trade openness,the signing of free trade agreements,the large amount of direct investment and project contracting,promote trade cooperation between China and the countries along the “Belt and Road”.In terms of investment cooperation,high political risk,good business environment,large amount of foreign trade and engineering contracting,large economic aggregate,high efficiency level,have a promoting effect on investment cooperation,and the signing of bilateral investment agreements has a negative impact on investment cooperation.In terms of investment cooperation,high political risks,a good business environment,large amounts of foreign trade and engineering contracts,large economic aggregates,and high efficiency levels have a positive effect on investment cooperation.The signing of bilateral investment agreements has a negative impact on investment cooperation.In addition,the systematic GMM method was used to conduct endogenous tests on the three economic and trade cooperation modes,and the research conclusions were consistent with the basic regression.The countries along the “Belt and Road” are tested for heterogeneity according to income level and geographic location,and economic and trade cooperation is tested for heterogeneity according to different industries.It is found that in countries with different incomes,different geographical locations,and different industries in economic and trade cooperation,the strength of factors affecting economic and trade cooperation is different.Finally,the influence factors of economic trade cooperation are further analyzed.In the end,this paper summarizes the research conclusions from seven aspects.the economic and trade cooperation between China and the countries along the " Belt And Road" has a solid foundation and great potential.The economic and trade cooperation of the whole industry and transportation industry are affected by the institutional factors of the host country,the factor endowments of the host country and the bilateral relations to different degrees.The economic and trade cooperation of the whole industry and transportation industry are different among countries with different income levels and with different geographical locations.According to the research conclusions of this paper,the corresponding policy suggestions are put forward from two levels of government and enterprises.At the government level,the first is to promote the highquality development of economic and trade cooperation between China and the countries along the " Belt And One ";Second,strengthen the construction of service functions,and build the system information sharing platform of " Belt And Road" countries;Third,deepen the bilateral political relations;Fourth,give full play to the interaction of China’s friendly economic relations with countries along the Belt and Road,and guide Chinese enterprises to "go global" through various economic and trade cooperation methods.At the enterprise level,firstly,enterprises should take the business environment of the One Belt And One Road countries into consideration when conducting economic and trade cooperation with the countries along the " Belt And Road" for overseas layout.Second,strengthen the research and control ability of political risk;Third,strengthen the research on industry characteristics,correctly understand and grasp the institutional factors of host countries,factor endowments and bilateral relations of industry impact differences.The innovation of this paper lies in the following aspects: First,the paper breaks through the limitation that the previous research is limited to trade or investment one or two aspect,and studies the influencing factors of economic and trade cooperation between China and "One Belt And One Road" countries from three aspects of economic and trade cooperation--trade,investment and project contracting.Second,the research paradigm introduces bilateral political and economic relations,as well as host country institutional factors,establishes an analysis framework based on bilateral relations,host country institutional factors and host country resource endowment factors,and systematically sorts out a variety of factors affecting economic and trade cooperation.