Study On Trade Potential And Trade Efficiency Between China And RCEP Member Countries

With the rise of The Asian economy,the Asia-Pacific region has become increasingly confronted with problems such as loose economic structure,wide development gap,complex political relations and insufficient cohesion,which hinder its further development.Based on this,ASEAN took the lead in drafting the Regional Comprehensive Economic Partnership(RCEP),which includes ASEAN,China,Australia,New Zealand,Japan and South Korea,and was formally signed on November 15,2021 after eight years of negotiations.The establishment of RCEP will play a significant role in uniting the core forces of all economies in the Asia-Pacific,balancing international trade rules,lowering trade barriers and promoting international trade facilitation.It will also play a positive role in alleviating downward pressure on China’s economy and promoting domestic economic reform.Therefore,it is necessary to explore the trade potential,trade efficiency and influencing factors between China and RCEP member countries,find out the problems and shortcomings,integrate RCEP with China’s internal reform smoothly,coordinate the imbalance,incoordination and inadequacy of China’s foreign trade,and promote the construction of high-quality development pattern of China’s economy.On the basis of summarizing correlation studies and stochastic frontier gravity model and other relevant literature,this paper analyzes the relevant import and export trade data and trade structure of China and RCEP countries from the perspective of the establishment of RCEP.When the trade problems are found,the influencing factors are proposed,and the stochastic frontier gravity model is introduced to analyze the trade potential and trade efficiency between China and RCEP countries.According to the results of empirical analysis,countermeasures and suggestions are proposed for China’s internal enterprise transformation and foreign economic and trade exchanges.Research results show that the RCEP is a typical vertical free trade agreement,high complementary industrial trade pattern formed between member states,China and Asean trade prosperity gradually,and presents the obvious complementarity of trade,Australia and New Zealand and Japan and South Korea bilateral trade prospects of slightly,and there are certain common trade between the two countries;There is a gap in trade potential between China and RCEP members,and a phenomenon of high trade potential and low trade efficiency with Japan and other RCEP members.There is a large gap in development among ASEAN members,and trade flows are mainly concentrated in Singapore,Thailand,Vietnam and other countries.Trade efficiency in the sample during the general downturn in the China and New Zealand,Australia,Singapore,Laos,Malaysia,Vietnam,and Cambodia,the trade efficiency is relatively high,and with Japan,Indonesia and Myanmar trade efficiency is low,the government environment,monetary and financial freedom,liner shipping,income distribution and other factors are the influence of different level.Finally,based on the empirical results,this paper puts forward countermeasures and suggestions from the aspects of economic aid,trade structure,trade terms and development layout,so as to help comprehensively improve the overall development level of RCEP and build a high-quality development pattern.