The Influence Of Financial Reform On Trade Of Forest Products Between China And "the Belt And Road" Initiative Countries

Over the past 40 years of reform and opening up,China’s financial reform and trade development have been moving in the same direction,promoting and penetrating each other.In 2013,General Secretary Xi Jinping put forward "the Belt and Road" initiative to promote inclusive development and enhance economic and trade cooperation.With the implementation of China’s policy of "Completely Stopping Commercial Logging of Natural Forests",China’s forest product trade structure has undergone profound adjustment due to the level of forest resource endowment and comparative advantage.Basing on financial reform and China’s forest products trade on the basis of investigation with "the Belt and Road" initiative countries.Analyzing the theoretical basis,the domestic and foreign research dynamic and theory of mechanism.Building stochastic frontier model of gravity and trade efficiency model.Having the empirical test on financial reform in China’s forest products trade with "the Belt and Road" initiative countries from 2005 to 2020.The efficiency of forest products trade is analyzed to provide a practical basis for how to enhance the competitiveness of China’s forest products trade with the countries under "the Belt and Road" initiative.The main conclusions of this study are as follows:The results of the current investigation show that: Since 1978,China’s financial reform has been continuously deepened and achieved obvious results.The marginal growth of import of forest products between China and "the Belt and Road" initiative countries is higher than the marginal growth of export,and the growth of trade scale is higher than the overall growth of China’s agricultural trade with the world.Timber,wood pulp,wood furniture,paper and cardboard are the most important trade forest products between China and "the Belt and Road" initiative countries,and Malaysia,Russia,Thailand and Singapore are the most important "the Belt and Road" initiative countries of China.The empirical results show that :(1)Suppressing the fluctuation of the official nominal exchange rate of RMB against US dollar has a significant positive impact on the import,export and import of forest products between China and " the Belt and Road" initiative countries;Increasing interest rate,monetary freedom and financial freedom have positive effects on forest product trade.(2)Improving the degree of green finance,forest resource area,passing forest certification standards and reducing the economic distance between the two countries can promote the trade of forest products between China and "the Belt and Road" initiative countries.(3)The average trade efficiency of import and export model is the highest,which is 0.57.Based on the above research conclusions,the following suggestions are put forward in this paper :(1)Improve the financial environment and financial policies of forest products in "the Belt and Road" initiative countries,and stabilize the monetary system and domestic interest rate;Further deepen the reform of exchange rate and interest rate liberalization and enhance the domestic financial and monetary freedom can improve the international competitiveness of China’s forest products.(2)Adjust the market distribution of forest products along "the Belt and Road",pay attention to improving the import and export efficiency of forest products,and focus on expanding to South America,Africa and other regions.(3)Adhere to the principle of green development and reasonable development,avoid the ecological environment problems caused by blind exploitation of forest product resources,and take the road of sustainable development.