The Research On Chinese Service Trade’s Influence On Economic Growth

During China’s construction of a few decades, the economy has made remarkable development,especially after joining in WTO.Gross domestic product increase about6times from1453.82billion dollars in2002to8262.23billion dollars in2012.At the same time,China’s service trade has also made considerable development and volume of trade in services has increased from＄85.46billion in2002to＄470.6billion in2012.Economic development has been the concern of scholars from various countries as a hot topic.Trade in services and trade in goods,as an important component of China’s trade, have played an invaluable role in economic growth.From the1960s, the developed countries began to view trade in services as the center of international competition,so trade in services began to become a new driving force for economic growth.But for our service trade, the scale for service trade is still small,the internal structure is irrational and the openness and competitiveness is low.However,with the2007,every country in the word was attacked by the financial crisis triggered by the U.S., and China’s economic and trade in services also been hit in some level. How to speed up China’s service trade,take better use of trade in services to promote the effect of China’s economic growth and narrow the gap with the developed countries to enhance trade in services in the international competitiveness has become the problems we must face and solve in the21st century.Firstly, through qualitative and quantitative research, the article analyzes the current situation and problems in the development process of our trade in services.Then by analysizing the means of services trade promoting China’s economic growth, we further reveals the way and mechanism of trade in services on our economic growth.Last, through the econometric model establishment of service trade volume and structure,we analyze imports and exports on trade in services and twelve sections:transport,tourism,communications,construction,insurance,financial,computer and information,royalties and exclusive rights license fees,consulting,advertising,film and other audiovisual business services,finally we came to the conclusion:there is a long-term and stable equilibrium relationship between services trade and economic growth.Moreover,exports on trade in services and economic growth showed a positive relationship,and the export is always Granger reason to economic growth;the import and export of most departments are also positive correlation to the economic growth, especially some knowledge-intensive and technology-intensive sectors.If considering the overall impact of the different on economic growth, we know the top four sectors: tourism, other business services, communications and transportation. Therefore, China should actively develop trade in services and emphasis on service trade exports. At the same time we should take the necessary measures to support and protect the development of new services trade sector and play the advantages of China’s service trade in order to narrow the gap with the world.