Research On The Impact Of Trade In Services To China's Economic Growth

Since 1960's, the focus of states participating in international competition has changed to trade in services from trade in goods gradually. Trade in services has become the new engine of economic growth. Nevertheless, trade in services in China is actually inconsistent with the world trend. Although the scale of China's trade in service has developed rapidly, Chinese trade market still is dominated by trade in goods, which economic growth is mainly driven by. The reason mainly lies in unclear understanding of the role of trade in services, as well as the government carries out the policy relying heavily on trade in goods rather than trade in services. Therefore,it is significant how to correctly understand the role of trade in services to china's economic growth.This paper established a measurement mode about the impact of trade in services to the China's economic growth, measuring the different function of total imports, exports, tourism, transport, other business services sub-sector imports and exports for economic growth by using the advanced quantitative analysis tools. And we get the beneficial conclusion that there is a long-term equilibrium relationship between economic growth and service trade, both entirety and sub-sectors.Therefore, China should attach importance to the development of trade in services, should develop the domestic service industry to lay the industrial foundation; to promote the export trade in services positively and formulation long-term import strategy about trade in services. Thus narrow the gap with other countries and achieve economic growth.