A Research On The Financial Development And The Optimization Of The Export Commodity Structure In Hebei Province

The structure of export commodity of a country or region refers to in some period oftime a commodity or all kinds of goods in a country or region’s foreign trade share or position.The structure of export commodity not only better reflects its level of economic development,and determines the interests of the country or region in the international division of labor andexchange. In recent years, Hebei Province has formed a comprehensive diversified exportmarket structure, and the scale of the export trade continues to grow rapidly, but exportgrowth still relies on some steel and labor-intensive products. The high-tech and highvalue-added capital and technology-intensive exports has not yet become a major drivingforce of the province’s export growth, and export growth’s momentum of Hebei Province isinsufficient. Therefore, Hebei Province’s structure of export commodity needs to optimize,and it is critical to exploring the way of improving the structure of export commodity. Thedevelopment of Hebei Province’s financial industry which is better to form a comparativeadvantage in capital and technology in Hebei Province is a feasible way to achieve HebeiProvince’s structure of export commodity dominated by labor-intensive products to capitaland technology-intensive products.About the research of relation between financial development and the optimization ofexport commodity structure, to a certain extent, is filling the financial factors in the domesticoptimization of export commodity structure’s theory in the research blank. The method ofcombination of theoretical analysis and empirical analysis is widely used in the academic fieldin recent years. Selecting financial interrelations ratio represents index of financial scale andthe term structure of loans of financial institutions represents index of financial structure andthe ratio of industrial manufactured goods exports in total exports and the radio of high techproducts exports in manufactured goods exports represent index of optimization of exportcommodity structure on the basis of theoretical analysis about the relationship of financialdevelopment and the optimization of export commodity structure. Empirical researchconcludes that the financial scale and financial structure have positive effect on the ratio ofindustrial manufactured goods exports in total exports and the radio of high tech products exports in manufactured goods exports, and financial scale and financial structure less importon the ratio of industrial manufactured goods exports in total exports compares with the radioof high tech products exports in manufactured goods exports, especially the impact of thefinancial structure on the radio of high tech products exports in manufactured goods exports.Finally, according to the results of the model the article makes policies and recommendationsto promote the optimization of export commodity structure in Hebei Province from theperspective of financial support.