An Empirical Analysis Of The Factors Affecting The Technical Complexity Of Chinese Manufacturing Export

International trade competition is not only the competition of export shares,but also the competition of the technical level of export products.The vertical specialization makes the technical level of exported products one of the decisive factors in the status of international division of labor and in the gains of international trade.At the same time,the restructuring of the global industrial chain and the launching of the fourth industrial revolution based on "Internet +" pushed China's manufacturing industry to the crossroads of upgrading and reform.Promoting technological upgrading has become an inevitable choice for the manufacturing industry to get rid of the "big but not strong" situation.In the past decade,the focus of international trade research has shifted from the export volume to the export quality.The study on the measurement and influencing factors of the technical complexity of export has become a new hot spot in the academic field.The existing research mainly discusses the unilateral factors of the exporting countries.Based on the transnational analysis,this article further explores the measure and influencing factors of the technical complexity of export from the perspective of bilateral trade.First of all,this paper makes use of and expands the Hausmann(2007)export technical complexity index to calculate the technical complexity of exports and the technical complexity of bilateral exports in 52 countries,and analyzes the technical complexity and international experience of China's manufacturing exports.Secondly,the paper analyzes the domestic fundamentals such as resource endowment,per capita income,financial development,infrastructure and other factors of bilateral economic relations such as FDI,import trade,real exchange rate and cultural distance.Finally,using the static and dynamic panel data models,two kinds of influencing factors of export technical complexity are respectively analyzed empirically.The empirical results of the fundamental factors show that the extent to which domestic fundamentals affect the complexity of export technologies is related to the degree of development in a country.Import trade,infrastructure and capital intensity are more important for promoting the technical complexity of exports in high-income countries.For non-OECD countries with lower income levels,the technological spillover caused by imports,the improvement of the capital environment brought by the increase of capital intensity,and the capital allocation efficiency brought by financial development will help increase the technical complexity of exports.The empirical results of the bilateral economic relations show that the improvement of the level of economic development and import dependence of the trading partners significantly promotes the upgrading of China's export technology.In addition,outward FDI,cultural distance and bilateral real exchange rates have also affected at different levels.Therefore,in the fierce international competition,China's manufacturing industry should learn from the development experience of other countries,maintain the competitive advantages of the high-tech industry,increase the investment in innovation in disadvantaged industries and realize the coordinated development of industries with different technological degrees.In addition,China's manufacturing industry should grasp the opportunities for technology exchange and learning brought about by direct investment in high-income economies and transform the cost pressures arising from the rise of the bilateral real exchange rate and the cultural distance into a manufacturing technology competitive power.Through continuous innovation,China's manufacturing industry can enhance its core competitiveness and sustainable development.