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.

The use of renminbi for trade and non-trade denomination and settlement

The use of renminbi for invoicing and settlement intermediaries in foreign-oriented activities is the first step and footstone of internationalization of the Chinese currency. With the appreciation of renminbi in recent years, there has been a growth of renminbi invoicing and settlement in China’s border trades, although the overall amount is small and the development momentum is imbalanced among different regions. The main obstacles come from such factors as VAT rebate policy restrictions and foreign exchange control, insufficient financial services, and under-cultivated willingness among enterprises. Looking from the strategic perspective of strengthening macro-adjustment and enhancing the open economy, it is pressing and would be beneficial to China to promote the renminbi’s invoicing and settlement function. Therefore, following the momentum, we should accelerate the construction of a cross-border renminbi clearing system, create non-discriminative treatment in terms of VAT rebate and exchange control policies, and gradually expand the usage of the renminbi from border trades to general trades and outward investment.

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.

人民币汇率升值、贸易开放水平与跨境人民币结算

本文基于2011—2021年我国省级平衡面板数据,使用pvar模型研究跨境人民币结算金额、人民币汇率及贸易开放三者之间的动态关系。结果表明:保持一定规模的贸易开放及稳中有升的人民币币值会助推跨境人民币结算规模的扩大,进而推进人民币国际化进程。基于此,本文就进一步发挥稳定的对外开放水平和稳中有升的人民币币值对跨境人民币结算的促进作用提出相关政策建议,以供参考。

陕西自贸试验区金融创新成果及发展建议

陕西自贸试验区自2017年4月挂牌成立至今已满6周年,作为我国西北部地区唯一的自由贸易试验区,陕西自贸试验区无疑发挥着重要的引领作用。近年来随着“先行先试”政策的不断深入推进,陕西自贸试验区在贸易、投资、金融等多个领域都取得了丰富的创新成果。文章主要围绕陕西自贸试验区在金融领域的创新现状进行深入研究,在总结其创新成果的同时进一步分析陕西自贸试验区在金融创新发展过程中存在的问题,并提出相应的发展建议。

省间电力现货交易优化设计与定价机制

在“碳达峰·碳中和”的目标驱动下,受新能源地理分布与随机性影响,以跨区域交易为媒介的区域间电能与灵活性互济重要性凸显。目前,中国正处于构建全国统一电力市场体系的关键阶段,需要有效的市场机制来管理省间电力现货交易。基于上述背景,设计了一种不依赖于跨区域投标者的省间电力现货交易方法。首先,提出了基于报价区的市场出清模型,采用分区边际定价的方法计算每个报价区的结算价格;然后,基于等效双边配对方法,按潮流贡献计算得到各区域间交易所需承担的输电费用;最后,采用算例验证了所提方法的有效性。与已有方法相比,所提方法在不依赖于跨区域投标者的前提下完成了跨区跨省电力交易,充分利用了输电线路容量,且市场出清过程中保护了各区域内部网架信息隐私。

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.

中国自贸区建设对人民币国际化的影响研究

近年来,中国政府积极推进自由贸易区建设,凸显了自贸区在促进金融高水平开放方面的巨大潜力。然而,自贸区建设对人民币国际化的直接影响在学术界尚未得到充分探讨。本文基于2009—2023年的面板数据,研究了中国自由贸易区对人民币国际化的影响。研究发现,自贸区的设立与跨境人民币结算贸易额、跨境人民币结算累计对外直接投资额以及人民币占全球储备货币份额之间存在正相关关系。这表明自贸区为企业提供了更便利的贸易和投资环境,降低了跨境交易成本,提高了人民币在国际市场上的使用率。自贸区通过推动人民币在国际贸易和投资中的流通和使用,有助于增强人民币的国际地位,推进人民币国际化。这一研究结果为深化人民币国际化的路径和机制提供了理论和实证支持。

E-Trade时代传统跨境贸易人民币结算实例分析

进入21世纪,网络技术蓬勃发展,呈现出高效率、开放性、互动性、全球性、多元性、经济性与便捷性的特点,电子商务随之盛行,跨境电商兴起。近几年,虽然跨境电商发展速度很快,但是传统跨境贸易中国际货物贸易仍然占据着主要地位。传统跨境贸易中,货款结算是买卖双方最为关心的一个环节,使用哪种支付方式?电汇、托收和信用证究竟哪个更合适?如何选择支付货币?人民币跨境结算是否有利?借助中建材国际贸易有限公司跨境贸易实例,分析传统跨境贸易人民币跨境结算的益处,提出企业在运用人民币跨境结算时应注意的问题。

杨应琚西北治理述论

平定准噶尔后,着眼于西北战略安全总体布局的乾隆帝特意调熟悉西北的杨应琚担任陕甘总督。杨应琚根据时局发展,考虑边疆治理效率,及时上奏朝廷,更设西北行政设置,调整陕甘军政区划;奉旨考察新疆后对新疆行政建置、官员设置以及衙署官舍等事宜提出了具体的规划;更设西宁地区行政设置,根据治所距离调整所属辖地,完善行政格局,保留土司以稳定西北地区社会。杨应琚奏请屯垦西北,为甘肃屯垦先后六次上奏,为新疆屯垦先后七次上奏,提出许多针对性很强的具体屯种措施,多次招募人口赴新疆屯垦,因地制宜地发展水利,新疆地区屯垦功绩十分显著。杨应琚创设市场,健全贸易管理机构,改进西北茶叶贸易。

基于电力现货市场的零售分时用户结算模式研究

该文探讨了在电力市场发展中,中长期交易与现货交易如何实现有效衔接以及分时段交易的重要作用。文章通过引入分时电价机制,阐述了如何引导用户从传统的全月统一电价模式转向更加灵活的全月24小时电价模式。本文提出了一种现货市场零售分时用户结算模式,该模式首先根据月度总用电量进行第一次结算,再计算出准确的电费,利用两次结算结果的差异执行补差操作,旨在提升电费结算的准确性与效率。文章提供了一个用于计算零售分时用户电费的数字化系统设计案例,展示了该结算模式的实际应用。应用证明,这种结算模式的创新有利于推动分时交易机制落地,激励用户积极参与负荷调节,并为构建新型电力系统提供了实践案例。

压缩天然气在贸易结算中以质量为计量结算单位的探讨

随着燃油价格的飙升和汽车尾气排放造成的大气污染,以清洁能源天然气为燃料的压缩天然气汽车已国内快速发展,且加气机作为天然气贸易结算的重要计量器具也受到广泛关注。本文从国内压缩天然气贸易计量的现状和质量计量在压缩天然气贸易结算中的优势,结合气体的状态方程、玻意耳定律和盖-吕萨克定律,证明了质量计量结算方法具有公平公正性。

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.

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.

自贸区金融创新对跨境人民币结算影响研究

自贸区设立的一个重要使命是金融创新,对跨境人民币结算具有重要影响。首先分析自贸区金融创新对跨境人民币结算的影响机理及路径,然后对上海、天津、福建、广东自贸区金融创新对跨境人民币结算的影响进行实证分析。研究结果表明:(1)自贸区金融创新对跨境人民币结算具有促进作用,上海自贸区的影响最为显著且持续性强,其余自贸区影响的持续性有待提升;(2)资本账户开放和离岸金融中心建设在自贸区金融创新影响跨境人民币结算的机制中发挥完全中介作用。因此,自贸区应因地制宜推进金融创新,稳步有序开放资本账户、建设健全离岸金融中心以促进自贸区金融服务业发展。

砥砺前行的中俄经贸合作

2022年,在俄乌冲突背景下中俄两国在货物贸易、服务贸易以及投资领域均取得了积极成效。中俄货物贸易再创历史新高源于欧盟对俄出口大幅下滑和国际市场大宗商品价格快速攀升两大因素;中俄服务贸易亮点凸显,其中跨境运输作用突出,金融服务不断创新;中俄投资合作基础进一步夯实,双边投资保护协定得到升级,跨境基础设施互联互通水平也逐步提升。但中俄贸易发展也存在隐患,制裁与反制裁措施对中方投资产生不利影响,跨境运输不畅对经贸合作构成障碍。世界经济增速放缓、国际市场能源价格预期下降以及美欧次级制裁的影响等对未来中俄贸易发展带来不确定性。双方应采取积极措施共同应对,把防范风险放在首位,以互利共赢原则积极拓展合作领域,继续完善贸易结构,培育新的经贸合作增长点,不断创新合作模式,提升合作质量,推动双边经贸合作持续稳定发展。

基于商品类别的跨境人民币结算贸易效应实证研究

2009年人民币跨境结算业务推行以来,我国本着“贸易先行、投资跟进、两腿并行、相互促进”的发展路线,坚持以便利贸易投资、服务实体经济为导向。目前,跨境人民币结算已初具规模,其贸易效应值得探究。首先,本文结合2012年以来的季度数据,分析了跨境人民币结算业务规模及具体业务构成情况。其次,建立计量经济模型,基于2014年7月—2023年6月的季度数据,实证检验跨境人民币结算对不同货物进/出口造成的影响。最后,基于检验结果,为进一步发挥跨境人民币结算的贸易效应,本文从构建助推跨境人民币结算的保障体系和丰富跨境贸易投资中人民币应用场景两方面提出建议,仅供参考。

双边货币互换助推跨境贸易人民币结算

基于2012—2019年省际层面的跨境贸易人民币结算数据样本,本文研究了双边本币互换协议对人民币发挥贸易结算货币职能的影响及其作用机制。基于DID方法的实证分析表明,双边货币互换对跨境贸易人民币结算的促进作用呈现非对称性,即对出口贸易本币结算影响显著,而对进口贸易本币结算的影响并不显著。构建人民币互换网络有助于缓解跨境贸易本币结算的“跛足化”现象。机制分析表明,“外币融资可获得性”是双边货币互换促进跨境贸易人民币结算的重要渠道。异质性分析表明,对于贸易开放度更高的省份、与中国贸易联系密切以及资本账户开放程度高于中国的贸易伙伴,人民币互换网络对贸易领域人民币国际化水平的促进作用更强。本文的研究为人民银行开展货币金融合作、强化人民币的贸易媒介职能以有序推动人民币国际化提供了重要的经验证据与政策启示。

我国与东盟国家本币结算合作模式分析及展望——基于中印尼LCS合作机制

中印尼本币结算(Local Currency Settlement,以下简称LCS)合作启动以来,总体业务运行平稳,市场交易活跃,取得了良好的经济社会效果。本文结合中印尼LCS框架设立的背景情况,通过研究LCS运行机制,对中印尼LCS合作取得的现有成果及影响因素展开详细分析,并结合LCS在东盟国家的实践效果,发掘现行LCS机制存在的缺陷和不足。最后,根据我国与东盟本币结算现状,发现印度尼西亚、马来西亚、泰国和菲律宾等国更适宜作为我国LCS合作的优先发展区域。为进一步发展完善LCS合作模式,建议适度扩展ACCD银行数量,逐步放宽LCS限制条件,提升便利程度;优化外汇市场区域交易,提升区域交易活跃度;借鉴LCS合作模式,提升人民币国际使用份额,有序推进人民币国际化。