Research On The Export Potential Of China’s Trade In Medical Goods

Since the global outbreak of COVID-19,global trade has been greatly negatively affected.This is both new challenge for China and great chance to develop the export trade of medical goods.This paper starts from the global medical goods market.The global medical goods can be divided into medicines,medical supplies and medical equipment these three categories by WTO.Then found that the overall medical goods and its three categories of subdivision goods in 2006 to 2021 are growing steadily.The top 10 countries in the world for overall medical good exports are basically concentrated in Europe and the United States,with Germany,the United States,Switzerland and China,where trade has grown rapidly in recent years.Secondly,this paper starts from China’s medical industry,found that China has formed a relatively mature medical good processing industry chain.China’s overall total export of medical goods maintained a rising trend from 2006 to 2021,rising to the peak of 117.5 billion dollars in 2020 and dropping slightly to 108.9 billion dollars in 2021 due to the control of the epidemic.Three categories of China’s medical products are basically exported to countries such as the United States in North America,Germany and Switzerland in Europe,and Japan and South Korea in Southeast Asia.In order to further measure what kind of countries are suitable for cooperation in medical goods trade,this paper selects the top 60 countries or regions’ statistics from 2005 to 2019,in the expansion of the political,economic,cultural and other perspective of related explanatory variables.It is found that in the overall trade of medical goods,the higher the GDP level of both trading countries,the higher the per capita medical and health expenditure,the higher the trade scale of medical goods;the cultural distance,exchange rate and tariff variables have a negative influence on the trade.In the group regression,the cultural distance factors have the strongest influence on the developed countries or regions;the global governance indicators of the importing countries have a positive effect on the developing countries or regions.The influencing factors that significantly affect the export trade of the three types of subdivided medical goods in China are basically the same as the overall medical trade,among which the cultural distance factor has the strongest inhibitory effect on the medicine trade;whether two countries have signed a free trade agreement has a positive effect on the medical supplies trade;the distance cost factor mainly has a negative impact on the medical equipment trade.Finally,in the potential calculation,it is found that the countries or regions with huge overall medical good trade potential with China are mainly Finland,Ireland,the United States,Costa Rica and Uruguay;in the medicine trade,Sweden,Switzerland,Singapore and the United Arab Emirates Countries are the main countries;Norway,Hungary and Austria are the main countries in the medical supplies trade;Switzerland,Ireland,Singapore,Malaysia,Denmark and Portugal are the main countries in the medical equipment trade.Then relevant suggestions are put forward: first,to strengthen international cooperation in the medical industry;second,to increase investment in medical research and introduce more talents;third,to improve the awareness of China’s medical goods intellectual property protection,the fourth is to strengthen the supervision of medical goods,and the fifth is to build a global medical industry chain.