Research On Influencing Factors Of The Specialized Market Evolution And Upgrading

Specialized market has already become an important commodity circulation mode through many years evolution. In China it becomes a special circulation mode in domestic market commodity trading market thus making great distributions of rapid regional economic growth and urbanization. Under the current condition of China’s economic growth rate slowing down, the macro economic development background has transformed and changed significantly and the overall economic structure needs to be integrated and optimized accordingly. In this context, the functions of traditional specialized market are gradually failing; some regional and industrial markets have a phenomenon of recession. There are challenges and potentials for the transformation and upgrading of the specialized market. Currently China’s economic growth rate is slowing down. However the year-on-year growth is relatively good with a more diversified growth momentum releasing the market vitality further. This provides a powerful driving force for the development of specialized market transformation and upgrading whereas against the background of ―new normal‖ economy, the specialized market transformation and upgrading is encountering problems such as industrial optimization, innovation capacity and other problems. Therefore investigate the specialized market transformation and upgrading benefits not only the market to help avoid the risk of competition and reinforce the continuous developments, but also promote the economic structure optimization for industrial clusters and regional economies to ensure a long-term driving force for regional economic development.This thesis took Yiwu Small Commodity Market as the object of study. From the perspective of its development, this thesis firstly analyzed its development process dividing the process into four periods which are formative period, growing period, mature period and transforming period. From those four periods, the thesis also analyzed the current status of development of Yiwu Small Commodity Market together with all the opportunities, challenges and problems it encountered. Secondly, the thesis studied and analyzed the internal and external driving forces of the market transformation and upgrading. The internal driving forces include value network coordination, organizational and operational mechanism innovation and the oriented mechanism for comprehensive competitiveness. The external drive forces contain the support from related industries, supervision from social organizations and government, development and service mechanism of urbanization. This thesis established the dynamic mechanism model of market transformation and upgrading. Thirdly the thesis analyzed various factors affecting the specialized market transformation and upgrading by using structural equation model. This structural equation model is based on 13 indicators chosen from five aspects which are format transformation, function innovation, network expansion, brand and development & research innovation and service level from three different dimensions naming specialized market transformation and upgrading, operating efficiency and market expansion in a survey on Yiwu market. The results show that the format transformation, function innovation, brand and development & research innovation and service level have a significant impact on the specialized market transformation and upgrading while the factor of network expansion is not as significant as those previous four. Finally in line with the analysis, this thesis put forward the course for specialized market transformation and upgrading. There are six proposals: Guide format transformation and promote multi-format integration under new development environment; Promote function innovation and enhance the comprehensive service ability; Accelerate brand and development & research innovation and implement brand strategy; Improve service levels and create a favorable market environment; Strengthen integrative development with e-commerce and innovate the development mode; Speed up the pace of internationalization and level the international operations up. Those six proposals have powerful theoretical and data support for market transformation and improvement.