The Impact Of Financial Development On The Competitiveness Of High - Tech Industry Export Trade

Since the entry into WTO, the total export volume of our country continues to grow, and the trade structure has been optimized, and the development of high-tech industry export trade has achieved a breakthrough, in addition to the impact of the financial crisis in 2009, the annual export trade volume is growing. The export trade volume of advanced technology industry has already surpassed the developed countries. However, it is found that the export trade competitiveness of China’s high-tech industry is still not high, and it has not strong international competitiveness. In the continuous prosperity of trade, China’s financial industry after 30 years of reform has also been a huge development, financial laws and regulations continue to improve, the number of financial institutions and the number of employees, the financial structure is constantly improving, stock market, bond market matures, and in the economy play an increasingly important role. Since 1990s, more and more scholars have focused on the relationship between financial development and economic growth and the relationship between financial development and international trade. Therefore, whether China’s financial development has a impact on the competitiveness of high-tech industry export trade? What is the mechanism of this effect? This is the focus of this paper.This paper summarizes the domestic and foreign scholars on the research of the financial development and the international trade relations, the basic theory of financial development and international trade theory, and then from the perspective of the financial function of the impact of the financial development of the export trade. The article considers that the financial development has five basic functions, such as mobilizing savings, facilitating risk dispersion, allocation of resources, labor exchange, and convenient goods. The financial development is through the realization of these functions, through the impact of capital accumulation, technological progress and the formation of scale economy 3 paths to influence the export trade comparative advantage, and then promote the competitiveness of commodity export trade.The empirical analysis shows that the development of China’s financial development has a significant positive effect on the promotion of the competitiveness of high-tech industry export trade. But for the eastern and western regions of China, the study found that the positive impact of financial development on export trade competitiveness of high-tech industry is only in the eastern region, and the financial development of the western regions has not had a positive effect on the competitiveness of high-tech industry export trade. This conclusion can provide a strong support for the development of China’s high-tech industry export trade competitiveness. The article is carried out in the context of background, theoretical analysis, current situation analysis and empirical test, and the last part offers some suggestions on how to improve the competitiveness of high-tech industry export trade through financial development, in order to promote the coordinated development of China’s financial industry and international trade.