| With the gradual refinement and extension of the international value chain division of labor,the proportion of pure manufacturing links in the composition of industrial product added value is decreasing,while the proportion of specialized production services and intermediary services such as research and development design,logistics distribution,product marketing,e-commerce,financial services,and strategic consulting is increasing.Service oriented manufacturing is a manufacturing model aimed at increasing the value of various stakeholders in the manufacturing value chain.Through the integration of products and services,full customer participation,and mutual provision of productive and service-oriented production by enterprises,it achieves the integration of decentralized manufacturing resources and high synergy of their respective core competitiveness,achieving efficient innovation.As the world’s largest manufacturing country,China’s manufacturing industry is currently not only plagued by low added value in manufacturing processes,but also faces issues such as strengthened resource and environmental constraints and rising production factor costs in the international industrial division of labor system.The extensive economic growth model relying on resource input and scale expansion is clearly unsustainable.Nowadays,Chinese manufacturing enterprises are facing a series of problems such as overcapacity,increased cost pressure,and pollution reduction.In this situation,achieving the transformation of manufacturing towards service-oriented manufacturing has become the key to solving the above problems.After years of development,although China has formed the world’s most comprehensive manufacturing sector and is the only country in the world with all industrial sectors,the backwardness of service-oriented manufacturing has become an important reason why China’s manufacturing industry has long been at the low end of the value chain.Since China’s accession to the World Trade Organization,the process of import trade liberalization has been accelerating,and the import of intermediate goods has become one of the most important types of imported goods in China.The liberalization of intermediate goods import trade has played a very important role in improving the efficiency of factor allocation and promoting the level of research and development innovation in China.The transformation of service-oriented manufacturing industry precisely requires enterprises to have a large number of high-quality production factors and strong R&D innovation capabilities as support.Does this mean that the liberalization of intermediate goods import trade can accelerate the process of service-oriented manufacturing in China?What channels does the liberalization of intermediate goods import trade affect the service-oriented process of manufacturing enterprises?Is there any constraining factor in the impact of liberalization of intermediate goods import trade on the service-oriented development of manufacturing enterprises in this process?Furthermore,how can the liberalization of intermediate goods import trade promote the overall level of service-oriented development in a country’s industry?The thinking and answers to the above questions will help provide new ideas for the service-oriented transformation of China’s manufacturing industry,and greatly enrich the existing theoretical research content on the determinants of manufacturing service-oriented transformation.Based on an open perspective,this article attempts to explore the transformation of China’s manufacturing industry towards service-oriented development from the perspective of liberalization of intermediate goods import trade.At the theoretical level,drawing on the basic assumptions and analytical framework of Breinlich et al.(2014),a mathematical model is constructed that includes the servitization of manufacturing enterprises and the liberalization of intermediate goods import trade.Firstly,the influencing parameters of servitization of manufacturing enterprises are obtained when achieving local equilibrium;On this basis,incorporating import tariffs on intermediate goods as exogenous policy shock variables,this study explores the internal impact mechanism of the decrease in import tariffs on the service-oriented nature of manufacturing enterprises from three levels:factor allocation efficiency,research and development innovation,and internet participation.Based on this,five theoretical hypotheses to be verified are proposed.At the empirical level,the World Input Output Database(WIOD)and the Organization for Economic Cooperation and Development(OECD)input-output database(WIOD-ICIO)were used to calculate the service-oriented index of manufacturing enterprises.At the same time,tariff data provided by the World Bank and others were used to calculate the liberalization index of intermediate goods import trade,and the impact of intermediate goods import trade liberalization on China’s manufacturing service-oriented industry was carefully examined.Research has found that every 10%decrease in import tariffs on intermediate goods will lead to a 0.54%increase in the service-oriented level of Chinese manufacturing enterprises;The reduction of import tariffs on intermediate goods has improved the service-oriented level of Chinese manufacturing enterprises through channels such as improving the efficiency of industry factor allocation,enhancing enterprise research and innovation capabilities,and promoting industry Internet participation.The contributions of these three channels are 7.1122%,12.1844%,and 8.2281%,respectively.Heterogeneity testing found that the decrease in import tariffs on intermediate goods has a more prominent impact on the service-oriented nature of manufacturing enterprises in industries with lower total factor productivity and higher levels of digital transformation;Compared to state-owned enterprises and large enterprises,the promotion of service-oriented manufacturing enterprises by the reduction of import tariffs on intermediate goods is more prominent for non-state-owned enterprises and small enterprises.Based on the theoretical assumptions mentioned earlier,this article also tests the nonlinear impact of intermediate goods import trade liberalization on the servitization of manufacturing enterprises by including the quadratic term of intermediate goods import tariffs in the benchmark econometric model and using quantile regression methods.The regression results verify the conclusion that intermediate goods import trade liberalization has an inverted U-shaped effect on the servitization of manufacturing enterprises.Further,by constructing a threshold regression model to test the threshold effect of total factor productivity and industry digital transformation rate on the liberalization and service effect of intermediate goods import trade,it was found that only when the total factor productivity of enterprises is below 5.5622,the decrease in intermediate goods import tariffs can significantly promote the improvement of the service level of manufacturing enterprises;When the total factor productivity of enterprises exceeds 5.5622,the decrease in import tariffs on intermediate goods no longer significantly promotes the service-oriented transformation and upgrading of manufacturing enterprises;When the digital transformation rate of the industry is below 0.2027,the decrease in import tariffs on intermediate goods has a promoting effect on the service-oriented development of manufacturing enterprises,but the effect is relatively weak;When the digital transformation rate of the industry is higher than 0.2027,the promotion effect of the decrease in import tariffs on intermediate goods on the service-oriented development of manufacturing enterprises is significantly enhanced.Considering that servitization can be divided into two parts:enterprise level manufacturing service-oriented and industry level manufacturing service-oriented,this article further examines the dynamic impact of intermediate goods import trade liberalization on industry level manufacturing service-oriented.By decomposing the total growth rate of manufacturing service-oriented industry at the industry level,it is found that the liberalization of intermediate goods import trade mainly promotes the overall level of manufacturing service-oriented industry through the "inter enterprise effect",that is,the liberalization of intermediate goods import trade mainly drives the overall level of service-oriented industry by optimizing the efficiency of resource allocation between enterprises;The "exit effect" and"intra enterprise effect" are also important channels for the liberalization of intermediate goods import trade to drive the overall level of service improvement in the industry,but their contribution is smaller than the "inter enterprise effect";The least influential factor is the entry effect.From the perspective of comprehensive effects,the reallocation effect and intensification effect are the key channels for promoting the overall level of manufacturing service in the industry through the liberalization of intermediate goods import trade,while the impact of the extensive effect is relatively light.The study also indicates that there is a significant heterogeneity in the impact of liberalization of intermediate goods import trade on the service-oriented manufacturing industry at the industry level:in industries with high innovation levels,high internet participation,and high resource mismatch,liberalization of intermediate goods import trade has a greater promoting effect on the service-oriented manufacturing industry at the industry level;In the situation where the degree of liberalization of intermediate goods import trade is higher,there are more types of imported intermediate goods,and the quality of imported intermediate goods is better,the effect of liberalization of intermediate goods import trade on the service-oriented manufacturing industry at the industry level is more obvious;The reduction of import tariffs on intermediate goods has a significantly greater promoting effect on the servitization of manufacturing industries with higher levels of input servitization than its impact on the servitization of manufacturing industries with lower levels of input servitization.Finally,based on the research findings,some policy recommendations are proposed from the perspectives of macro,meso,micro,and high-level openness.They mainly include:Firstly,the government can create a stable macro institutional environment for the implementation of intermediate goods import trade liberalization by signing bilateral and multilateral government friendly cooperation agreements or joining regional integration organizations which help to accelerate the process of intermediate goods import trade liberalization,maintain the continuity and stability of its policy implementation,and provide policy support for many manufacturing enterprises in China with low total factor productivity and the need to implement service-oriented transformation.Besides,continuously strengthening a fair competition market competition environment is necessary which can improve factor allocation efficiency,fully leverage the promoting effect of intermediate goods import trade liberalization on the service-oriented manufacturing industry.Increase investment in digital infrastructure in eligible industries and regions,and create favorable conditions for achieving liberalization of intermediate goods import trade and promoting the service-oriented transformation of manufacturing enterprises by improving the digital level of the region(industry)to which the enterprise belongs.Secondly,industry associations,chambers of commerce,and other intermediary organizations should assist government departments in strengthening supervision and management of the industry,promptly identifying and eliminating various institutional and mechanism obstacles that hinder the free flow of factors within the industry;Assist the government in building a unified large market to promote factor flow,improve the efficiency of industry factor allocation,and thereby strengthen the promoting effect of intermediate goods import trade liberalization on the service-oriented transformation of manufacturing enterprises.Thirdly,for enterprises with high efficiency in factor allocation,outstanding R&D innovation capabilities,and high level of internet development in their industries,they can fully utilize the optimization effect of intermediate goods import trade liberalization on factor allocation,integrate their own R&D innovation,import of high-quality intermediate goods,and industry internet participation,thereby accelerating their manufacturing service-oriented process.For enterprises with low total factor productivity and industries with high levels of digitalization,we can vigorously implement the liberalization of intermediate goods import trade and promote the service-oriented transformation of manufacturing enterprises;For enterprises with high total factor productivity or industries with low levels of digitalization,the government should encourage such enterprises to focus on relying on their own research and development innovation and improving the digitalization level of the industry,in order to enhance the service-oriented level of manufacturing enterprises.Fourthly,from the perspective of improving the overall service-oriented level of the manufacturing industry,it is necessary to continue to strengthen a fair and just market competition environment,promote the reasonable flow of advanced elements such as technology and talent among various departments,especially improve the market entry and exit mechanism,so that efficient enterprises can enter the market smoothly and inefficient enterprises can be eliminated in a timely manner,Thus providing a favorable institutional environment for the improvement of service-oriented manufacturing at the industry level.Fifthly,actively explore institutional innovation measures that can promote high-level opening up to the outside world,connect with international high standard economic and trade investment service rules,and thus eliminate various institutional and mechanism obstacles that promote the liberalization of intermediate goods import trade and the service-oriented manufacturing industry. |
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