Research On The Impact Of Trade Facilitation On The Supply Chain Efficiency Of China’s Semiconductor Industry

In recent years,trade frictions in the semiconductor industry have occurred frequently.At the same time,some countries and regions have implemented semiconductor industrial policies,such as the “CHIPS and Science Act of 2022”.Some supply chains in the semiconductor industry have begun to show a “regional” reconstruction state.The inventory pressure of Chinese semiconductor companies is increasing,and some companies have extreme situations such as supply chain disruption.How to alleviate the inventory pressure of Chinese semiconductor enterprises and improve the efficiency of semiconductor supply chain has become a research hotspot.The influence of tariffs in international trade has been greatly weakened,and there is no room for negotiation.As a series of institutional norms,trade facilitation provides a new perspective for the development of semiconductor enterprises under the reconstruction and transformation of global semiconductor supply chain.Based on the theoretical analysis framework of the impact of trade facilitation on the supply chain efficiency of the semiconductor industry,this paper measures the level of trade facilitation in various provinces of China with the help of provincial panel data and micro-data of 60 listed companies in the semiconductor industry from 2015 to 2020.On the basis of a comprehensive analysis of China’s trade facilitation level and the development level of the semiconductor industry,the empirical research method focuses on the differential impact of trade facilitation level on the inventory level of different semiconductor enterprises,so as to illustrate the impact of trade facilitation level on the semiconductor supply chain.The level of trade facilitation in each province shows an upward trend.China has the world’s largest semiconductor consumer market,and the manufacturing sector in the semiconductor industry is developing fastest.Empirical studies have found that trade facilitation measures are not obvious for reducing the inventory level of listed companies in the semiconductor industry.The inventory reduction effect on high-capital-intensive semiconductor companies is obvious.For state-owned enterprises and enterprises with low vertical integration,the inventory promotion effect is dominant.The easing of Sino US relations can enhance the reduction effect of trade facilitation on the inventory levels of semiconductor enterprises.In order to improve the efficiency of the semiconductor industry supply chain and promote the development of the semiconductor industry,first,we must promote the collaborative innovation of upstream and downstream enterprises in the supply chain to ensure the steady growth of total factor productivity;second,the construction of semiconductor enterprise information sharing mechanism,slow down the semiconductor supply chain upstream and downstream inventory fluctuations;third,refine the direction of industrial competition in the short term and alleviate the impact of geopolitics on semiconductor trade frictions.Fourth,ensure a high level of opening up in the long run and promote the semiconductor supply chain cycle in the domestic market.