Study On Sino-australian Bilateral Trade Structure

After the collapse of the Doha Round of World Trade Organization(WTO),the world's major economies have adopted bilateral or multilateral free trade agreements as a way to expand trade.Conforming to the trend of world economic development,China has accelerated the pace of regional free trade negotiations.China and Australia in April 2005 began negotiations on the FTA,after 10 years of negotiations,in June 2015 formally signed a free trade agreement.Its establishment will promote the rapid development of China and Australia's economic and trade,and promote bilateral economic and trade cooperation to a new height.China and Australia are important trading partners,and the economy has a strong complementarity,and trade structure is an important part of the economic structure.Trade structure optimization and upgrading of China's economic transformation has a catalytic role.Therefore,the study of bilateral trade structure between China and Australia is of great significance to both China and Australia.In this paper,the method of calculating the value of technology is sorted and compared.Using the Fan Gang's(2002)RTV(Index of revealed technological value-added)to calculate the sophistication of each country's export products and classify them.Based on this classification,this paper analyzes the trade structure of China and Australia by using the Technical distribution map,RCA(Index of Revealed Comparative Advantage),TCI(Trade Complementarily Index)and TCD(Trade Combination Degree).The conclusion is that China and Australia can develop trade between the two countries from the low-tech value-added products and the high-tech value-added products,and conclude that the products of China and Australia are highly complementary.By constructs the gravity model based on the export data of various types of technology value-added products in China from 2001 to 2015,this paper analyzes the factors affecting China's exports,and obtains the degree of trade liberalization and GDP as the main factors influencing China's exports.Using the gravity model to estimate the export potential of China to Australia,and find out that there is a certain degree of export potential except for the medium-tech value-added.Combining the results of the index calculation and the gravity model,it is concluded that bilateral trade between China and Australia is closely linked and the trade structure is constantly optimized.There is a great export potential for China's exports to Australia,and exports are affected by trade liberalization.And finally put forward policy recommendations from the FTA,product structure and human cooperation to promote the development of trade between China and Australia.