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.

A Study of Relationship between RMB Exchange Rate and Import-Export Trade Relations before and after Exchange Reform

Exchange rate, as a link between international markets, integrates the economies of all countries. In today's economic globalization, exchange rate plays an important role. It is one of the most effective ways to regulate the international economy, and also one of the most direct means. In this paper, based on the definition, classification and role of exchange rate, the impacts of RMB exchange rate on China's export trade after the "exchange rate reform" were studied, and the measures that China should take to deal with the impact of the continuous appreciation of RMB on imports and exports under the current environment were proposed. This paper hopes to further expand China's foreign trade.

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.

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。

Economic and Trade News

Still in 11th Place in World Trade Statistics from the Secretariat of the World Trade Organization on the first fifteen countries (regions) in world trade in 1994 show that China still occupies 11th place. The USA still took first place in world trade, registering US $ 1.194 trillion in 1994 and accounting for 11.4% of the world total, down 2.8 percentage points over last year. Other countries among

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 Theoretical and Empirical Analysis of Benefits Distribution in China-U.S. Trade during 1978-2007

The Sino-U.S. trade imbalance and the related debate on RMB appreciation have attracted much attention in recent years. Judging objectively, however, the trade imbalance does not necessarily result in an imbalance in the distribution of trade benefits. By analyzing the distribution of benefits in Sino-U.S. trade from 1978 to 2007, this paper finds that bilateral trade has brought positive benefits to both sides, differentially in terms of production and consumption. Simply put, China has gained benefits for production yet suffered in terms of consumption, whereas the opposite is true for the U.S.. Moreover, even during periods in which the U.S. experienced a trade deficit, its citizens gained larger total individual benefits than those in a period of trade surplus. We argue, therefore, that appreciation of the RMB would reduce the trade benefits for both sides by almost the same margin, bringing little benefit to the United States.

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。

中非贸易对人民币区域化的影响研究

论文基于非洲54个国家和中国2010-2021年的面板数据,探究中非贸易对人民币非洲区域化的影响,并分析其影响机制。研究发现,中非贸易规模扩大能够显著推进人民币在非洲的区域化进程。异质性分析发现,相较于低收入国家,中非贸易规模扩大对较高收入国家的人民币非洲区域化程度的促进作用更明显。机制检验表明,中非贸易深化能够通过降低双边贸易成本和提升非洲国家对中国的贸易依存度来促进人民币的非洲区域化。在“一带一路”倡议下,中国与非洲国家在政策沟通、设施联通、贸易畅通、资金融通和民心相通等方面开展合作,有助于推动人民币在非洲的使用。从贸易结构角度出发,中国与非洲的贸易互补性强,6类商品和7类商品的出口能显著促进人民币在非洲的使用。

青岛自贸片区金融开放创新研究

深化金融领域开放创新是青岛自贸片区发展的重要方向。面对金融聚集度不足、特色优势不明显、创新业务规模偏小等问题,打造高水平对外开放和金融改革发展新高地需要加大金融政策支持力度,统筹各功能区金融资源,形成涵盖片区管委、金融监管部门、金融机构等多个方面的合力,提升人才引进、环境营造、特色业务、区域联动、国际合作等多个方面的水平。

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。

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.

数字金融赋能跨境电商:理论逻辑、现实困境与发展路径

跨境电商等贸易新业态是我国对外开放的重要载体,是国际贸易发展的新动能,已成为推动我国外贸转型升级的重要力量。但目前跨境电商面临着物流成本高、企业融资难、跨境风险高等诸多问题,数字金融的发展为跨境电商提供了新的发展机遇。本文立足于数字金融赋能跨境电商的理论逻辑,较为系统地分析了数字金融服务跨境电商的发展现状和技术应用,并探讨了数字金融服务跨境电商发展过程中面临的问题挑战。基于此,针对监管机构和商业银行提出应用数字金融推动跨境电商发展的对策建议,以促进跨境金融业务全面转型,加速中国跨境电商企业的全球布局。

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.

国际贸易对人民币国际化的动态影响

近年来,有关国际贸易与货币国际化关系的研究引起了广泛的关注。基于相关文献和理论研究提出了三个研究假设,选取中国2010—2022年的月度数据,通过构建向量自回归(VAR)模型,实证分析中国国际贸易总量、国际贸易产品结构、国际贸易中的汇率风险以及国际贸易类型等因素对人民币国际化的动态影响。研究结果表明,中国国际贸易总量的增加对人民币国际化有短期为负而长期为正的动态影响,国际贸易产品结构的调整对人民币国际化有持续显著的正向影响,短期内加工贸易对人民币国际化有较为明显的促进作用。

新能源领域大宗商品定价权:测度及动态演进特征研究

“双碳”目标背景下,我国新能源领域大宗商品消费量已跃居世界首位,但相关原材料的定价话语权较低,因此研究大宗商品定价权具有现实意义。本文基于中美26个指标构建指标体系,首次从实证上综合考量了大宗商品定价权背后的商品属性、金融属性和政治属性,并进行各属性动态演进的测度分析。从结果来看,新能源领域大宗商品定价权受商品属性影响较大,金融属性次之。近年来中美两国相关商品的定价权均缓慢上升,我国新能源领域原材料定价权由商品属性主导,而美国相关商品定价权由政治属性主导。2021年后,我国相关商品的金融属性因期货交易量放大而骤然提升,促进了定价权发展。因而建议巩固我国定价权的商品属性,重点提升金融属性,扩大金融开放,促进新能源行业稳健发展。

全球贸易发展新趋势下人民币国际化的机遇、挑战与路径安排

全球贸易是世界各国货币国际化的催化剂。当今世界贸易多元化不断强化,发达经济体依然是全球经济重要动力源,但以“金砖国家”、东盟及部分南美中亚等国为代表的新兴经济体异军突起,为全球贸易格局调整注入新动力;以数字技术为核心的现代科技迭代发展,促成数字贸易成为全球贸易新亮点;以制造业为载体的技术贸易已成各国抢占全球贸易竞争制高点;在贸易多元化趋势下,区域经济合作更是全球贸易发展新舞台。党的二十届三中全会通过的《决定》指出,要“推动金融高水平开放,稳慎扎实推进人民币国际化,发展人民币离岸市场”。直面全球贸易发展新趋势,我国超大经济与贸易体量、强大工业制造能力以及持续壮大的贸易“朋友圈”等已成为人民币国际化重要优势,而现阶段人民币国际地位与我国经贸体量匹配度低,“工业型”人民币国际化道路遇阻,人民币跨境结算尚存障碍。推动我国金融市场高水平、高质量开放,夯实“工业型”人民币国际化之路,完善人民币跨境支付结算制度配套,已成为全球贸易发展新趋势下人民币国际化的重要路径安排。

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.

碳市场建设的问题与发展路径——基于构建“碳人民币”体系视角

在人民币国际化进程中,探索和开发新的应用场景是关键。在梳理货币国际化历史规律、分析人民币国际化现状和国际碳市场发展趋势的基础上,提出应抓住当前国际碳市场互联互通的机遇,促进人民币在国际碳交易中的广泛应用以构建“碳人民币”体系,发展人民币的网络效应,为人民币国际化提供新动能。考虑到我国碳排放权交易体系建设和碳金融市场发展现状,以及当前依托国家碳市场和现有区域碳市场构建“碳人民币”体系面临的困难与风险,提出相关政策建议:一是联合内地区域碳市场和香港地区碳市场作为“碳人民币”体系构建的切入点,制定碳市场国际化发展路径;二是完善机制体系建设,增强碳市场国际化的发展动能;三是应对绿色贸易规则,持续扩大“碳人民币”体系的内部动能,为促进区域内碳市场整合优化、提升人民币在国际碳金融交易中的应用提供助力。