Research On The Impact Of The Depth Of Free Trade Agreement On China’s Export Diversity Of Manufactured Products

With the deepening of regional economic integration,the number of regional trade agreements increases rapidly,and the regional cooperation is mainly based on the signing of more flexible free trade agreements.China has always regarded the construction of free trade zones as an important strategy,so it has been speeding up the pace of signing free trade agreements with other countries.In international trade,manufactured goods,as the main body of China’s commodity export trade,play a pivotal role in economic development.Therefore,it is of great significance for China’s economic development to maintain the steady growth of exports of manufactured goods.The increase of the export diversity of industrial products can reduce the trade uncertainty and maintain the steady growth of economy,so it is very meaningful to study the impact of the depth of free trade agreements on the export diversity of Chinese manufactured goods.In order to clarify the role of the depth of free trade agreement on the diversity of China’s export products,this paper takes the manufactured goods as an example,combined with China’s current signed and effective free trade agreements,to study the impact of free trade agreements on the diversity of China’s industrial products export.Firstly,this paper defines the concepts of the depth of free trade agreements and export product diversity,and sorts out the relevant studies of domestic and foreign scholars on the depth of free trade agreements and export diversity.Secondly,the paper analyzes the current situation of the export diversity of China’s manufactured goods by using HS-6 digit code commodity export data.Subsequently,the paper carries out further research by combining theory and demonstration.Theoretically,the depth of trade agreements and export diversity are incorporated into the economic theory,and the mechanism of the depth of free trade agreements affecting export diversity is analyzed from the perspectives of cost effect,knowledge spillover effect and risk aversion effect.Empirically,this paper selects 21 countries that have signed free trade agreements with China from 2000 to 2021 and have entered into force,and constructs 6 indicators to measure free trade agreements respectively under the two major standards of "coverage" and "binding force".The extended gravity model is used to analyze the influence of the depth of the free trade agreement on the export diversity of China’s industrial products.The results of this paper show that the depth of free trade agreements significantly increase the diversity of China’s exports of manufactured goods to the corresponding contracting countries.From the perspective of trading partners,the depth of free trade agreements plays a more prominent role in diversifying China’s exports of manufactured goods to developing countries.The depth of the free trade agreement has a more prominent role in the diversification of China’s exports of industrial manufactured goods to Asian countries.From the perspective of segmented manufactured goods,the depth of free trade agreement plays a more prominent role in the diversification of capital or technology intensive manufactured goods exports.Based on the above conclusions,this paper puts forward some suggestions on how to deepen the depth of free trade agreements in the future to improve the diversity of manufactured goods exports.