Abstract
In the context of COVID-19 normalization, studying the factors influencing the import and export volume of a country can provide relevant suggestions for the economic recovery and growth of that country. In this paper, by selecting China's import and export trade data for the past 32 years, GDP, USD-RMB exchange rate, FDI, and foreign exchange reserves are selected to study the factors affecting foreign trade through a dynamic regression model. The conclusions drawn are shown below. When there is a macroeconomic recession, both China's imports and exports will decrease accordingly. When China's RMB depreciates, China's imports will decrease and exports will increase. Overall, China's total trade still increases. FDI has a pulling effect on both China's imports and exports. China's foreign exchange reserves have a stabilizing effect on China's import and export trade.
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