Research On The Impact Of Export Credit Insurance Development On China's Industrial Structrue Upgrade

Accelerating the industrial structure upgrading process and building a modern economic system is one of the important tasks of contemporary economic development.How to play the role of"troika"(export,consumption and investment)under the supply-side structural reform is the key to completing the industrial structure upgrade.After entering the new normal of economic development,China's economy has encountered bottlenecks in development from both the supply side and the demand side.The"troika"has weakened the role of the economy,especially the sharp decline in foreign trade,which has led to many foreign trade enterprises are in a dilemma.As an internationally recognized means of trade promotion,the export credit insurance,as pennitted by the WTO rules,is an important policy financial instrument for safeguarding export security,helping export enterprises to obtain bank loans,and opening up new markets.Today,China is in the context of implementing the"The Belt and Road"policy.This paper explores the relationship between export credit insurance and industrial structure upgrade through an in-depth understanding of the importance of export credit insurance in export trade,and discuss how to improve the operation and development of export credit insurance to better play its role in the construction of the "Belt and Road",thereby promoting the development of China's export trade and stable economic operation,and ultimately achieving the optimization and upgrading of the national industrial structure.This paper firstly measures and demonstrates the status quo of China's export credit insurance development and industrial structure upgrading from different angles.Then based on the macro and micro level,the paper analyzes the impact of the development of export credit insurance on the upgrading of industrial structure.The research method used at the macro level is the two-sector model in social reproduction theory.The micro level elaborates through the common function and personality function of export credit insurance.It is concluded that the development of export credit insurance has a positive impact on the upgrading of industrial structure.At the same time,this paper selects the panel data of 22 provinces(cities)branches of China Export Credit Insurance Corporation from 2008 to 2016,uses the system GMM method to establish a model,and introduces foreign direct investment,fixed asset investment,and per capita GDP as control variables,through empirical methods to study the impact of the development of export credit insurance on the process,rate and direction of China's industrial structure upgrading.It is concluded that the overall development level of export credit insurance has a slight inhibitory effect on the industrial structure upgrading process.This is mainly because in recent years,in addition to vigorously supporting the export of mechanical and electrical products and high-tech products,China has gradually begun to support the export of agricultural products,thus restraining the extent of the transfer of the country's overall industrial structure to the secondary and tertiary industries to a certain extent.And there is a positive impact on the rate and direction(advanced development of the tertiary industry)of industrial structure upgrading.Finally,based on the empirical results,this paper analyzes and summarizes the causes,and based on the analysis results,it puts forward relevant suggestions to the government,export credit insurance institutions and export enterprises.