Research On The Impact Of The Quality Of Imported Intermediate Products On The Export Performance Of China’s Manufacturing Firms

Under the background of great changes in the international external environment and domestic development conditions,how to improve the export performance has become an important issue in theory and practice.At the same time,the proportion of China’s imports of intermediate goods has increased year by year.According to customs statistics,the proportion of imports of intermediate goods to all imports increased from 57.6% in 1996 to 63.6% in 2015.The importance of imported intermediate products in enterprise production is self-evident.The impact of intermediate product quality on manufacturing operations and export performance of manufacturing enterprises has become a research hotspot in the field of international trade.Therefore,it is particularly necessary to study the impact of the quality of imported intermediate products on the export performance of Chinese manufacturing enterprises.This is of great practical significance for China to promote the restructuring of foreign trade and foster new advantages in foreign trade competition.Firstly,based on the research of Melitz(2003),Fan and Li(2013),this paper derives the mathematical model of import intermediate quality and export performance.Through consumer preference,producer behavior,intermediate investment,equilibrium and export earnings analysis,Deriving the quality upgrade of imported intermediate products has a positive impact on the improvement of corporate export performance.Secondly,It also analyzes the cost compensation channel,technology transfer channel and product types channel of the quality of imported intermediate products affecting export performance.Furthermore,this paper uses SQL software to match and process Chinese industrial enterprise data and customs data,and empirically tests the impact of imported intermediate quality on export performance: the regression results of the total sample show that the quality upgrade of imported intermediate products significantly promotes manufacturing enterprises.The improvement of export performance;the regression results of sub-samples show that(1)the effect of import intermediate quality on export performance is more prominent in foreign-invested enterprises and processing trade enterprises.In terms of financing constraints and productivity,the smaller the financing constraints and the higher the productivity High manufacturing enterprises,the quality of imported intermediate products promotes export performance,and(2)the quality of imported intermediate products for medium import intensity and the export performance of manufacturing enterprises imported from countries along the “Belt and Road” There is a significant boosting effect.In addition,the channels for the quality of imported intermediate goods affecting export performance are tested,and further,this paper carries out the binary marginal decomposition of exports,including the positive and negative intensive margins,as well as the wide marginal changes of the three levels of enterprises,products and destination countries,empirically testing the quality of imported intermediate goods to the manufacturing industry.The impact of the dual margin of corporate exports,the study found that the import of higher quality intermediates will encourage enterprises to more actively export to the international market,diversification of export strategies and diversification of export products.Finally,this paper proposes policy recommendations for deepening international trade cooperation,promoting trade facilitation,adjusting the import structure of intermediate products,and grasping the effect of the quality of imported intermediate products on export performance.