The Influence Of Fdi Of Producer Services On The Export Structure Of China’s Manufactured Goods

With the continuing of the social division of labor, the producer services become a separate industry after isolating gradually from manufacturing production, and promote the development of manufacturing industry as the primary intermediate input. Since the1990s, the FDI amount of China’s producer services is increasing which follows the manufacturing FDI, and also has made great progress with manufactured goods export structure, it may have some kinds of transfer mechanism between two of them. The related investigation of FDI of domestic producer services effects on export structure of manufactured goods is penurious, as the domestic scholars mainly study the influence of the total FDI on the structure of export commodities in our country, as well as the influence of FDI of manufacturing on the structure of our country’s export commodities. Therefore, analyzing the influence of FDI of producer services on the export structure of China’s manufactured goods is of great significance to optimize the structure of our export products.Firstly, this essay analysis the mechanism of the influences of the FDI of producer services on the export structure of China’s manufactured goods from three aspects, including the division of labor and specialization, industrial linkage and global value chains. Secondly, based on the analysis of the FDI of producer services and the current situation of the development of the export structure of China’s manufactured goods, the conclusion that the increase of the direct investment of foreign producer services may lead to the optimization of the export structure of China’s manufactured goods can be drawn by analyzing relevant data and its correlation. To verify this conjecture, this paper shows the result of the empirical research of the export data of labor intensive manufactured goods as well as capital and technology intensive manufactured goods between1991and2012, the actual utilization of the FDI of producer services, the world’s GDP and the exchange rate of each year by methods of cointegration analysis model, error correction model, Granger test, variance decomposition and impulse responses, etc. The results show that, in the long term, the increase of the FDI of producer services will lead to the increase of the export of China’s capital and technology intensive manufactured goods, synchronized with the decrease of the export of China’s labor intensive manufactured goods, as well as the optimizing of the export structure of manufactured goods. In the end of the paper, the author represents relevant policy recommendations on China’s producer services and the development programme of its FD as well as the optimizing way of the export structure of China’s manufactured goods by integrating the relevant conclusions drawn by the analysis of current situation and quantitative analysis of the text.