Impact of BRICS Trade Facilitation on China's Exports Using Cross-Border E-Commerce

With the rapid growth of the global digital economy, cross-border e-commerce, as an emerging form of trade, has gradually become a powerful engine to promote the development of global trade. BRICS is an important force in the global economy, and the progress of the BRICS countries' trade facilitation level has an important impact on the global trade environment. This paper conducts an in-depth study of the dynamic changes in BRICS trade facilitation from 2013 to 2022, and uses an extended gravity model to analyze the specific impact of this change on China's exports using cross-border e-commerce. The results show that although the BRICS countries have made some progress in trade facilitation, the overall level still needs to be improved, and there are obvious differences among member countries. However, the improvement of trade facilitation among BRICS countries has undoubtedly brought significant positive effects to China's exports using cross-border e-commerce.

Micro,Small,and Medium Enterprises’Cross-Border Business Strategies

This paper explores the operational strategies of cross-border micro, small, and medium enterprises (MSMEs). Against the backdrop of globalization and digitalization, cross-border trade has become one of the important pathways for many MSMEs to achieve growth and competitive advantage. Firstly, the paper outlines the concept and characteristics of cross-border MSMEs, as well as the analysis of their operational environment in the context of globalization, including political, economic, social, technological, environmental, and legal factors. Secondly, the paper proposes operational strategies for cross-border MSMEs, including international market selection and positioning, cross-border marketing strategies, supply chain management, cross-border financial management, and cross-border risk management. Finally, the paper summarizes the importance of effectively implementing these strategies for cross-border MSMEs to seize international market opportunities, reduce operational risks, and enhance competitiveness and profitability.

On the Cross-border E-commerce Development Strategy in the Context of the Belt and Road Initiative

As the "Internet +" action plan proceeds, e-commerce further integrates traditional sectors and increasingly promotes development. In the context of the Belt and Road Initiative, Chinese cross-border e-commerce, through channel expansion and market share increase, is taking the lead in trade and investment development, and facilitating labor division & coordination, resource & product sharing, as well as opening new markets. To promote the long-term economic development of countries along the Belt and Road, a series of development strategies have been designed, which concern constructing an "online silk road" for cross-border e-commerce, building new trade passages and bridges, innovating traditional trade models, and gathering a trade development momentum.

Cross-border E-commerce and China's Exports during the COVID-19 Pandemic

China's exports experienced a rapid recovery after the outbreak of the 2019 COVID-19 pandemic.A primary engine was cross-border e-commerce(CBEC)trade,which bucked the downward export trend during the pandemic.By exploring the variation in the number of CBEC comprehensive pilot zones across provinces,we identified the causal impact of CBEC on exports using monthly province-product-destination data for 2019 and 2020.We found strong and robust evidence that CBEC contributed to exports during the pandemic by promoting the expansion of incumbent exports(intensive margin)rather than through the expansion of product categories and exporting partners(extensive margin).Specifically,higher pandemic risk suppressed the role of CBEC at the intensive margin while enhancing it at the extensive margin.Exports to developed countries benefited more from CBEC,both intensively and extensively.Compared with final products,a larger number of intermediate products were exported through CBEC after the outbreak of the pandemic.

Recalculating Sino-US Trade Balance Using the Ownership-Based Statistical Method

Using the trade statistical method based on asset ownership,this paper recalculated Sino-US bilateral trade volume and the result indicates that against traditional trade statistics,Chinese exports to the US reduced by an average of 51%while Chinese imports from the US increased by an average of 41%between 2004 and 2010.Balance of trade is in the range between US$2,189 billion of deficit and US$12.77 billion of surplus on the part of China,which are far smaller than the balance of Sino-US trade calculated by traditional statistical method.In order to reflect the real scale of China's foreign trade and effectively respond to Sino-US trade frictions,it is necessary for China to establish its trade statistics system based on asset ownership.

A Review of Studies on Sino-Kazakhstan Trade under the Belt and Road

As a country with the strongest economic strength and the largest land area in Central Asia, Kazakhstan is also the advocacy and ＂core nation＂ of the SCO with China. Taking full advantage of the existing SCO economic cooperation mechanism and using Kazakhstan as the starting point to speed up the coordinated development of the Silk Road Economic Belt and regional trade is an important measure to speed up the implementation of the strategy of China＇s free trade agreement and to co-ordinate the overall new pattern of opening up. The strategic concept of ＂One Belt and One Road＂ is of great significance for promoting the development of trade liberalization in China and Central Asia and for enhancing China＇s strategic position in the global trade pattern.

Bilateral swap agreement and renminbi settlement in cross-border trade

This research empirically examines the impact of China’s renminbi(RMB)Bilateral Swap Agreements(BSAs)on the usage of the currency in cross-border trade transactions.By using a unique dataset from SWIFT including cross-border settlement messages of 91 countries/regions between October 2010 and November 2015,we confirm that the signing of an RMB BSA helps increase the number,value and proportion of the RMB settlement in cross-border trade.Our results are robust with respect to the choice of different models,including multi-level mixed model,two-stage regression model,and difference-in-difference model.In addition to justifying the effectiveness of China’s BSA-signing strategy to promote the RMB usage in trade settlement,our results clarify that the signing of those RMB BSAs is not purely for China’s political ends as some scholars claim.

The Governance of Cross-Border Data Flows in Trade Agreements:Is the CPTPP Framework an Ideal Way Out?

The regulations of cross-border data flows is a growing challenge for the international community.International trade agreements,however,appear to be pioneering legal methods to cope,as they have grappled with this issue since the 1990s.The World Trade Organization(WTO)rules system offers a partial solution under the General Agreement on Trade in Services(GATS),which covers aspects related to cross-border data flows.The Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP)and the United States-Mexico-Canada Agreement(USMCA)have also been perceived to provide forward-looking resolutions.In this context,this article analyzes why a resolution to this issue may be illusory.While they regulate cross-border data flows in various ways,the structure and wording of exception articles of both the CPTPP and USMCA have the potential to pose significant challenges to the international legal system.The new system,attempting to weigh societal values and economic development,is imbalanced,often valuing free trade more than individual online privacy and cybersecurity.Furthermore,the inclusion of poison-pill clauses is,by nature,antithetical to cooperation.Thus,for the international community generally,and China in particular,cross-border data flows would best be regulated under the WTO-centered multilateral trade law system.

Major Changes in Tax System and Administration on Cross-border Trade and Investment in Myanmar

This article presents the efforts of Myanmar Internal Revenue Department to change the tax system from an office assessment system(OAS)to a self-assessment system(SAS)to achieve a fair and efficient tax system and to improve taxpayers’compliance through the impact of tax reform on cross-border trade and investment.

Rise of Cross-border E-commerce Exports in China

China＇s cross-border e-commerce industry has demonstrated stable and rapid development thanks to the implementation of appropriate policy support and the progressive establishment of e-commerce platforms. The industry＇s prosperity suggests unique advantages of cross-border e-commerce, which are a result of promoting industrial transformation and accelerating economic restructuring. Due to asymmetric information and insufficient data, little research has been conducted on the current status and the trends of the industry as well as the magnitude of risk in cross-border e-commerce. Using the cross-border e-commerce hosting service database of BizArk, the present study has constructed an index for China ＂s export e-commerce prosperity and magnitude of risk which reveals that the industry： （i） generally presents a tendency of solid growth; （ii） has had a relatively stable situation for logistics facilitation but a drastic fluctuation in customs facilitation; （iii） has gradually shifted to competing for cheaper and more efficient marketing techniques as well as channels; and （iv） has experienced a remarkable amelioration of risk magnitude.

霍尔果斯口岸在“一带一路”建设中的作用及潜能分析——以中哈贸易为例

首先对'一带一路'背景下霍尔果斯口岸的发展现状进行了概括总结,进而分析霍尔果斯口岸在中哈贸易及'一带一路'建设中发挥的作用。最后提出加强中哈边境自由贸易区的合作,创建霍尔果斯口岸对外贸易新模式,加快国际边境合作中心的人民币离岸进程等对策建议。

Aspects of International Public Procurement Regulation

The public procurement market is classified as one of the most important segments of the world economy with share of 7-18%in the world GDP.The importance of this segment leads to continuous liberalization.Despite the existing legislative framework,the share of cross-border public procurement remains limited due to several obstacles including discrimination in public procurement that was raised by governments as one of the non-tariff barriers to international trade.Surveys of the European Commission or the European Bank for Reconstruction and Development(EBRD)indicate that there are many other obstacles to entry to international public procurement markets.These obstacles are discussed in the first chapter of this article.The goal of this paper is to review aspects of international public procurement regulation and find ways of eliminating the obstacles through this regulation.Therefore,the second,third,and fourth chapters of the paper analyse the WTO Government Procurement Agreement(GPA),the United Nations Commission on International Trade Law(UNCITRAL)Model Law on Public Procurement,and the role of regional trade agreements.

The Evolving Economic Role of Accounting Standards： Evidence from Bilateral Cross-Border M＆A Flows

Cross-border M＆As are important to the participating countries. I posit that mandatory International Financial Reporting Standards （IFRS） adoption lowers the systemic information noise embedded in countries＇ accounting standards. This reduces the associated information processing costs and enhances the economic role accounting standards play on cross-border M＆A flows. After mandatory IFRS adoption, a 1% increase in accounting standards disparity suppresses bilateral M＆A flows by around 2%; a decrease in accounting standards disparity helps promote bilateral M＆A flows when paired countries＇ governance infrastructure gaps are relatively wider. I do not find that these associations were significant prior to mandatory IFRS adoption. Overall, this paper documents an evolving economic role accounting standards play on bilateral cross-border M＆A flows and sheds light on the economic benefits of adopting IFRS for policy makers.

Policy Analysis and Development Evaluation of Digital Trade:An International Comparison

As an extension of traditional trade,digital trade is a new type of trade in the era of the digital economy.In this paper,we first analyze the digital trade-related strategies of eight leading economies through word clouds and dissect China s digital trade-related policies using the word frequency method by sorting through the digital trade-related policy documents of 26 economies and Chinese provinces.We then evaluate the status quo of digital trade development in 111 countries and Chinese provinces by building a digital trade index system to determine the development environment and market potential.The results show that all countries attach great importance to digital technology,data and government guidance in the development of digital trade.The results also reveal that"development,""service"and"construction"are the three most frequently used words in various Chinese documents.The overall level of China s digital trade is at the global vanguard,but is characterized by uneven regional development.In the era of digital trade,traditional international trade theory is also in urgent need of breakthroughs and innovation.

A decade of RMB internationalisation

This article recounts China’s renminbi(RMB)internationalisation experiences since the 2009 RMB cross-border trade settlement ini-tiative.In the first few years,the RMB made inroads into global financial markets and had a few remarkable accomplishments,including the Special Drawing Right currency status.Since the 2015 market turmoil,RMB internationalisation has levelled off–possibly due to changes in both domestic and geopolitical condi-tions.The RMB is currently under-represented in the global mar-ket.China’s deliberate and schematic policies will elevate the RMB’s global stature in a gradual manner but there will not be a leapfrogging in the near term.

Renminbi Going Global

The present paper evaluates the international status of the Chinese currency, the renminbi （RMB）, by examining its use in the global market. Specifically, the discussion focuses on the recent developments of RMB trading in the global foreign exchange market, cross-border trade settlement in RMB, the Hong Kong offshore market and China＇s policies relating to the RMB. The evidence suggests that the use of the RMB overseas, especially in trade financing and in the off-shore market, has increased rapidly in recent years. However, compared with the size of the Chinese economy, the current scale of the use of the RMB is quite small. Although the RMB has great potential to become an international currency, its acceptance in the global economy is affected by both economic andpolitical factors. Attaining a fully fledged international RMB is still a distant goal.

Distance Puzzle:An Explanation from Global Value Chain Perspective

Theoretically,along with the technology progress and infrastructure improvement,geographical distance should have a diminishing effect on international trade over time.However,the empirical studies failed to deliver consistent empirical support for it.This result is known as“distance puzzle”.In this paper,we propose that the intermediate goods across borders caused by global value chain(GVC)could be an important explanation for the“distance puzzle”.We firstly build a Ricardian model with two stages of production,by which the trade elasticity under the framework of traditional trade and GVC trade are derived and compared,to theoretically explain why the GVC will result in the“distance puzzle”.Then we empirically investigate the effect of distance and cross-border times on bilateral gross trade and value-added trade over time.After controlling the influence of the GVC,we observe a diminishing elasticity of distance over time,and prove that the GVC can explain the“distance puzzle”.The further heterogeneous analysis and robustness tests confirm our empirical results.