Research On The Influence Factors Of China's Manufacturing Industry Trade Costs

Since the reform and opening up,China has made remarkable achievements in the development and foreign trades of manufacturing industry.However,under the new economic normal,the demographic dividend will disappear slowly and the pressure of environmental protection and improvement will increase.China's manufacturing industry trades are facing strong competitive pressures.To enhance the international competitiveness of the manufacturing industry,we should strengthen technological innovation and promote the upgrading of the industrial structure of the manufacturing industry.On the other hand,we should consider reducing the trade cost of manufacturing industry and improving its trade efficiency.Behind the continuous expansion of China's manufacturing industry trade volume,what changes have occurred in the manufacturing foreign trade costs,and what are the influencing factors behind them? This is the two main issues that need to be studied in this paper.This article firstly measures and analyzes the manufacturing bilateral trade costs of China and 38 trading partner countries during the 12 years from 2005 to 2016 through an improved gravity model.Through the calculation of this paper,it is found that the manufacturing trade cost of China and most countries shows a downward trend,but the manufacturing trade costs of several major trading partners such as Japan,South Korea,the United States,and Germany have increased slightly.From the trend point of view,the cost of foreign trade in China's manufacturing industry has risen significantly during the financial crisis.With trade liberalization and countries' efforts in economic recovery,there has been a significant decline since then,but China's manufacturing trade costs with most countries.There was an upward trend in the last two years of the study inter val.Geographically,China's manufacturing trade costs with Asia-Pacific countries and Western European countries are relatively low,and trade costs are higher with Eastern Europe,Southern Europe and BRICS countries.Next,this paper conducts empirical research on the influencing factors of China's manufacturing trade costs,and mainly carries out three aspects of work.The first is the impact of the six explanatory variables of trade facilitation level,trade openness level,geographical distance,per capita GDP difference,bilateral tariff level and real effective exchange rate on the trade cost of China's manufacturing industry using panel data regression.The results show that in addition to the bilateral tariff level,five of the explanatory variables have a significant impact on the manufacturing trade cost.The trade facilitation level and trade openness have a negative impact on the manufacturing industry,and the other four variables are positive.The second is the empirical analysis of the four specific indicators of trade facilitation.It is found that port efficiency,customs environment and e-commerce have a negative impact on China's manufacturing trade costs,and the statistically significant level is 1%,which is with us.The expectations are consistent.From the perspective of the degree of influence,the port is the most efficient,the customs environment is second,and e-commerce is second.However,the impact of the regulatory environment on manufacturing trade costs is positive.That is,when the regulatory environment improves,trade costs will increase,but this effect is not significant.The third one is the empirical analysis of the data of the sample countries in the group.It shows that for both the high and low groups,the symbols o f each variable are consistent with the expectation and are consistent with the overall regression results,but the significance of each variable is different.For countries with low trade costs,the two variables of per capita GDP difference and tariff are not significant.Finally,we will put forward some policy recommendations,including accelerating the process of trade facilitation,continuing to strengthen infrastructure construction,continuing to promote the construction of free trade zones,focus ing on foreign direct investment,and maintaining the stability of the renminbi.