中国金融服务贸易竞争力之影响因素分析

Abstract

Against the backdrop of economic globalization and trade liberalization, financial services, as an emerging sector, have gradually become a focal point of attention for countries around the world. The development of financial services trade has accelerated the flow of capital between nations and effectively promoted global trade as well as the development of non-trade industries. This article, based on the background of the RCEP coming into effect, conducts a comparative analysis of the financial services trade competitiveness between China and RCEP member countries, and empirically studies the factors influencing China’s financial services trade competitiveness based on Porter’s Diamond Model.
 This study first starts with the current status of financial services trade among RCEP member countries, comparing the competitiveness of China’s financial services trade with other RCEP member countries using three commonly used indicators for evaluating international trade competitiveness: market share (MS), trade competitiveness index (TC), and revealed comparative advantage index (RCA). Subsequently, based on Porter’s competitive advantage theory, an evaluation system is constructed from six aspects: factor conditions, demand conditions, related and supporting industries, government, enterprise organization strategy and competition, and opportunities. The regression model is constructed using data from 2006 to 2021 combined with the principal component analysis method to empirically analyze the factors influencing China’s financial services trade competitiveness. The analysis results show that China’s financial services trade international competitiveness is relatively weak among RCEP member countries, but it has shown a strong growth trend in recent years. The impact of fiscal policy on the competitiveness of financial services trade is the largest, followed by technological and related industry factors, while human capital has the smallest contribution to the competitiveness of financial services trade.
 Based on the research results, in the future, China should strengthen the cultivation of talents in the financial services industry, promote consumer spending in the financial services sector, increase the capital and technological content of related financial industries, expand the scale of foreign capital utilization in the financial services industry, and improve the financial regulatory system to enhance China’s international competitiveness in financial services trade.