Research On The Impact Of China’s Infrastructure Investment In Countries Along The Belt And Road On China’s Export

Nowadays,Chinese economy has stepped into a new normal stage.The economy is growing at a steady rate.The "population bonus" is disappearing.Meanwhile,with the increasing difficulty of the global economy,"Anti Globalisation" and "Protection against Competition" have been appearing,and there have been frequent exchanges between China and America.In this situation,how do we look for a new source of growth for the external trade? How to guarantee the sustained and sound development of Chinese export trade is a key problem that needs to be solved.Ever since the Belt and Road Initiative was initiated,China has been active in promoting the development of economic cooperation between the two sides.The amount of Chinese investment and exports to those countries is growing.Investment in infrastructure has been one of the most important areas for co-operation in the sector.Especially because of the relative backwardness of basic facilities in certain developing countries,which restrict the improvement of their life level and their development of international trade,we have built up rich basic techniques and experience in the course of modernization.At present,relative industry in China is in general saturation,so it is essential for FDI to push forward in this area.The Chinese side has worked hard to improve its infrastructure through investment in infrastructure and building projects,as well as links with other nations.Against this background,this research looks at the links between Chinese infrastructure spending in "Belt and Road" nations and their exports,looking for a new source of growth for China’s exports.This study firstly reviews and summarizes the literature related to the export effect and infrastructure of China’s outbound investment under the "Belt and Road" Initiative as well as China’s infrastructure investment in countries along the "Belt and Road".Secondly,it analyzes the influence mechanism of China’s infrastructure investment to countries along the Belt and Road on China’s exports.Third,summarize China’s infrastructure investment in countries along the Belt and Road and China’s export development status.In the empirical part,China’s infrastructure investment and export data of 64 countries along the Belt and Road from 2013 to 2021 are selected as research samples to construct panel fixed effect model for empirical analysis,and explore the current impact of China’s infrastructure investment on China’s export in countries along the Belt and Road.In addition,considering the characteristics of long completion time and long investment return cycle of infrastructure projects,this study further constructed a GMM dynamic panel model to study the lagged impact of China’s infrastructure investment in countries along the "Belt and Road" on China’s exports.The result of this study shows that infrastructure investment along the "Belt and Road" has a positive effect on Chinese export.Due to the characteristics of large scale and long time lag of the relevant investment.Finally,based on the above conclusions,this study proposes suggestions for promoting China’s infrastructure investment and export trade development in countries along the Belt and Road,such as systematic risk avoidance,cooperation between government and enterprises and innovative investment methods.