A Study Of China’s Export To The U.S. From The Perspective Of Export Technological Sophistication Of High-tech Products

In the context of slowing global economic growth,weak demand in the foreign trade market and intense competition among similar products on the international markets,China’s exports to the United States began to show weak growth.There is an urgent need to improve the technology of export products and optimize the export mix.Therefore,the study on China’s exports to the United States from the perspective of export sophistication of high-tech products is of practical significance.The main research contents are listed as follows:Firstly,the author analyzes the evolution of China’s export sophistication of high-tech products from the perspective of product mix.By reviewing the literature,the author starts with determining the types of high-tech products and then selects the calculating method of export sophistication.After that,Logarithmic Mean Divisia Index(LMDI)is used to analyze the evolution of China’s export sophistication of high-tech products.This paper argues that the comprehensive pulling effect of export sophistication of various high-tech products in the world is the main engine for the improvement of China’s export sophistication of high-tech products and the change in China’s high-tech product mix has a relatively weak influence.The main reason is that China and the world focus on different areas in terms of improvement of sophistication of high-tech products.Globally,pharmaceutical products,medical equipment and instrument equipment are leading roles in improving sophistication of high-tech products.In the case of China,electronic equipment and communication equipment are the leading roles.Secondly,the author explores the factors influencing China’s exports to the United States from the perspective of sophistication of high-tech products.To start with traditional bilateral trade gravity model,export sophistication is introduced to form the bilateral trade gravity extension model.Afterwards,based on the bilateral trade gravity extension model,the author adopts Semi-parametric Approach to empirically analyze the factors influencing China’s exports to the United States aiming at the characteristics that unquantifiable costs have an impact on bilateral trade.This paper argues that it is more appropriate for estimation that wetake RMB exchange rate as cost substitution variable and non-parametric variable and adopt Non-Parameter Estimation for econometric models.The empirical result confirms that China’s exports to the United States is strongly related with RMB exchange rate and the uncertainty of trade costs affect China’s exports to the United States.With the influence of the uncertainty of trade costs,China’s increasing expanding exports to the United States is surely benefited by China’s rapid improvement of export sophistication.Therefore,in order to ensure China’s stable increase in exports to the United States,the key point is to lower the uncertainty of bilateral trade costs,optimize high-tech product mix and improve the export sophistication of pharmaceutical products,medical equipment and instrument equipment so as to steadily enhance China’s technical content in high-tech products.