Analysis Of The Impact Of Trade Facilitation On China’s Intermediate Import Trade

As the world’s largest foreign trade economy,foreign trade has become one of the main drivers of China’s economic growth.As an important part of import trade,the import trade of intermediate goods plays an important role in promoting the modernization of China’s industrial structure and improving its position in the global value chain.However,in the current international trade,there are many trade barriers and low level of trade facilitation restricts the trade between countries to a certain extent.Therefore,this paper takes trade facilitation and imports of intermediate goods as the research object,focusing on the impact of trade facilitation on China’s imports of intermediate goods and exploring ways to improve the level of trade facilitation and expand imports of intermediate goods.This paper takes 40 major source countries of China’s intermediate goods imports as research objects to explore how the trade facilitation level of these trading partner countries affects China’s imports of intermediate goods.This paper first introduces the background and significance of the selected topic,and reviews the relevant literature of previous scholars on both trade facilitation and intermediate goods imports.Secondly,the theoretical mechanism of trade facilitation affecting imports of intermediate goods is analyzed,and the impact of trade facilitation on imports of intermediate goods is elaborated from four aspects: port and logistics efficiency,regulatory environment,customs environment,finance and e-commerce.Then,the current situation of import trade of intermediate goods between China and trading countries is analyzed from three aspects: scale characteristics,structural characteristics and regional characteristics.Four first-level indicators are constructed to estimate the trade facilitation levels of China’s major trading partners from 2010 to2019 with the help of SPSS software,and a comparative analysis is conducted.Finally,a fixed-effects model is used to analyze the impact of trade facilitation level on China’s import trade of intermediate goods.The empirical results show that trade facilitation has a significant effect on China’s import trade of intermediate goods;the empirical study of sub-indicators finds that the effects of regulatory environment,customs environment and finance and e-commerce are significant among the four primary indicators;the results of heterogeneity analysis show that the effects of trade facilitation are greater for "Belt and Road" countries than for non-Belt and Road countries."The results of the heterogeneity analysis show that the impact of trade facilitation on Belt and Road countries is greater than that on non-Belt and Road countries.Finally,based on the previous analysis and empirical results,we propose corresponding policy recommendations to improve the level of trade facilitation and optimize the import of intermediate goods.