The Impact Of Exchange Rate Changes On China's Export Structure From The Perspective Of Global Value Chains

Export structure is not only the current situation of foreign trade in a country or a region,the degree of economic and technological development,industrial development level and integrated embodiment of its international competitiveness of commodities,but also a country or region of acquisition of the international division of labor and trade interests to one of the measures.With the increasing proportion of products' import and export,in the traditional customs statistics of total trade volume has been unable to accurately measure of China's export structure.Exchange rate as the most important leverage in international trade,the global value chain under the perspective of world trade and economy plays an important role,after the yuan to join the SDR,the uncertainty of exchange rate increases.Therefore,under the global value chain perspective to study the impact of exchange rate fluctuation of export structure,will help to further improve the export structure,promote the growth of foreign trade and foreign trade policy to provide the reference.This article is based on the three input-output model for China's exports are decomposed into major trading partners and on the basis of measuring the global value chain perspective export structure,describes the RMB with major trading partners of bilateral nominal exchange rate,exchange rate fluctuation,the export commodity structure under the perspective of global value chain are analyzed and the present situation of the development of the export market structure,combed the global value chain perspective of exchange rate movements affect the export structure is the main mechanism,and the empirical analysis of the global value chain perspective the RMB exchange rate change on the influence of export commodity structure and export market structure.The research result shows that the structure development from exports,proportion is far greater than the primary products and resources of the manufacturing for export products and services,including,technology-intensive manufacturing export proportion is highest,and viewed from the trend,technology-intensive manufacturing export proportion has increased;In developed countries is still the main objects of China's export,but the export market structure is from developed countries to developing countries and emerging economies.From exchange rate change on the influence of export commodity structure,exchange rate changes have significant effects on export commodity structure,the impact on industry channel differences,among them,in the case of depreciation,can through the way of integration into the global value chain actively improve the capital-intensive manufacturing and the proportion of technology-intensive products exports,by attracting foreign direct investment way to increase the export of capital and technology intensive industry,and this two ways of labor-intensive industry and capital-intensive industry effect is small,so the capital and technology intensive products into the global value chain and actively introducing foreign capital will help China export commodity structure overall upgrade;From exchange rate change on the influence of the export market structure,products' import can alleviate because of currency appreciation of China's exports to countries is reduced,thereby improving the structure of the export market.