Study on the Trade Potential of Chinese Electromechanical Products Export to RCEP Countries

Abstract

This paper provides a detailed analysis of the complementarity and competitiveness of Chinese electromechanical product trade with the 14 other RCEP member countries through the G-L index and the ESI index. Our study found that China is highly competitive in electromechanical products with Japan, Malaysia, South Korea, Philippines and New Zealand. China's mechanical and electrical products trade with Australia, Brunei, Cambodia, Laos, New Zealand, Myanmar and Indonesia is highly complementary. Subsequently, this paper made an empirical analysis of the influencing factors of China's RCEP export countries from 2005 to 2019. The article found that the GDP of RCEP, Chinese GDP, the population size of RCEP, and the trade openness of RCEP have different effects on China's export of mechanical and electrical products. China's mechanical and electrical products export to RCEP countries are in the "potential development type". In view of this, suggestions are made on how to improve China's export of mechanical and electrical products to RCEP countries.