According to the theory of international trade, export-led trade growth worsens a country's terms of trade, and worsening terms of trade in turn reduces a country's welfare level. In recent years, China's bilateral trade with the European Union (EU) has been growing at a high rate, and in order to explore China's benefits from China-EU bilateral trade, this paper empirically examines the changes in China's terms of trade with the three major EU countries (Germany, the United Kingdom, and France) from 1993 to 2003, specific to broad categories of products, and analyzes the reasons for this.
The European Union (EU) has become China's number one trading partner for two consecutive years after its eastward enlargement in 2004, and China has become the second largest trading partner of the EU. The bilateral trade volume between China and the EU is growing sharply, but the growth of trade volume does not indicate how China benefits from it. In this paper, we will discuss China's benefits from China-EU bilateral trade and analyze the reasons for this from the point of view of the terms of trade, taking China's three major countries of the European Union, namely Germany, the United Kingdom and France, as examples.
Basics of Terms of Trade
(I) Concept of Terms of Trade and Related Theories
The terms of trade is an indicator used to measure the profitability of a country's exports relative to its imports and the benefits of trade over a certain period of time, and is particularly important in bilateral trade. There are three different forms of terms of trade commonly used: price terms of trade, income terms of trade, and factor terms of trade, which measure a country's trade gains from different perspectives. Of these, the price terms of trade are the most meaningful and the easiest to calculate based on available data. It is the price terms of trade that are used in this paper.
The price terms of trade, also known as the net physical terms of trade, for a country's exports and imports of the exchange ratio, which is calculated as follows:
TTT=Px/Pm where Px and Pm represent the export and import price indexes. an increase in the value of the TT indicates that a country's terms of trade improved, meaning that a country's export prices rose faster than the price of imports (or the price of exports fell below the price of imports), indicating that the country's terms of trade improved. Import prices fell below), that the country's benefits in trade increased; Conversely, TT value increases that a country's terms of trade deterioration, the country's benefits in trade decreased.
International trade theory suggests that export-oriented trade growth worsens a country's terms of trade, while import-oriented growth improves a country's terms of trade. Meanwhile, according to Krugman's standard trade model: an improvement in a country's terms of trade increases a country's level of welfare; conversely, a deterioration in the terms of trade decreases a country's level of welfare.
(ii) Domestic research on terms of trade
The current more systematic source of research on China's terms of trade is the Study on China's Terms of Trade 1993-2000, published in 2001 by the International Market Research Office of the Ministry of Commerce, which accepted the United Nations' research topic. The study concluded that from 1993 to 2000, China's overall terms of trade index, with 1995 as the base period, declined by 13 percent. Some scholars have since studied China's overall terms of trade changes, such as Lin Li and Zhang Sufang's study which showed that China's price terms of trade declined by 37% during the period 1994-2002, and Cui Jindu and Li Chengbang's analysis which showed that China's price terms of trade declined by 26% during the decade 1995-2005. But there are almost no studies that specialize in the terms of trade changes between China and the EU. And it is China's terms of trade with major EU countries that this paper explores.
Changes in China's terms of trade with EU countries
(I) Data sources and processing methods
In order to study the changes in China's EU terms of trade, this paper selects the terms of trade between China and three major EU countries, namely, Germany, the United Kingdom, and France, to study. These three countries are the major member states and core countries of the EU, and China's international trade with these three countries accounts for more than half of the total China-EU trade; in 2003, China's total trade with these three countries accounted for 56% of the total China-EU bilateral trade.
Taking China-UK trade as an example, we first explain the methodology and data sources used to calculate the price terms of trade. We selected data from the United Nations Commodity Trade (COMTRADE) database for China and the UK for 1993 and 2003 (where the most recent containing the quantity of each commodity is 2003) classified to 3 digits according to the Standard International Trade Classification, Third Revision (SITC3). It contains data on the volume and value of trade for most products. Due to data availability and to maintain data comparability, we have excluded the following products from this list: products for which trade quantities are not available; products that are traded unilaterally, such as those that China imports or exports only from the United Kingdom; and products for which a trading relationship existed only in 1993 or 2003.
After this treatment, we get 150 product groups whose trade share in 1993 is 95% of the total trade share and whose trade share in 2003 is 68% of the total trade share of China and the UK, which can be representative of the overall trade between China and the UK.
Based on the import and export trade value and trade quantity of product i, we can calculate the export price Px=Xi/Qx and import price Pm=Mi/Qm of product i, and thus get the price terms of trade of product i, TTi=Px/Pm. And then weighted according to the share of product i in the total trade value (in this case, the total trade value of the taken products), we can get an overall terms of trade index. At the same time, if the weights taken are for a particular category, such as primary products, labor-intensive manufactured goods or capital- and technology-intensive manufactured goods, we can similarly find the change in the terms of trade for a particular category of prices.
Based on the same methodology, we can calculate the terms of trade changes for China-Germany and China-France.
(2) Changes in the terms of trade between China and the three EU countries
According to the methods listed above, we calculate the overall terms of trade between China and the three countries as well as the changes in the terms of trade of each category, from which we can see the following characteristics:
1. The overall deterioration in the terms of trade of prices between China and the three countries is larger in magnitude. Among them, the terms of trade of all goods deteriorated by 62% in China-Germany, 31% in China-Britain and 77% in China-France. And the terms of trade of manufactured goods among them all deteriorated, 65%, 28% and 79% for China-Germany, China-Britain and China-France respectively.
2. Although the overall terms of trade deteriorated, the terms of trade of some of these products also improved. For example, the terms of trade of China-Germany in primary products and China-Britain in technology- or capital-intensive products have been improved by 15%, and the terms of trade of China-France in primary products have been slightly improved by 3%. On products with improved terms of trade, China's export prices were much lower than import prices in 1993, but as export prices continue to rise and import prices fall, the two differentials are getting smaller and smaller, manifesting improved terms of trade.
3. Among manufactured products, the deterioration of labor-intensive products was more serious. Although the terms of trade of China-Germany, China-Britain and China-France all deteriorated in manufactured goods, they performed better in capital- or technology-intensive products than in labor-intensive products. The degree of deterioration for China-Germany and China-France is 72% and 75% respectively for labor-intensive products, but only 55% and 45% for capital- or technology-intensive products. And although the terms of trade of China and Britain deteriorated by 43% on labor-intensive products, they rose by 15% on capital- or technology-intensive products.
4. The degree of deterioration in China's terms of trade with the three countries varies. China-Germany and China-France deteriorated more severely, both by more than 60%, while China-UK terms of trade deteriorated relatively less, by 31%.
(3) Differences in the changes in the terms of trade between China and the three EU countries
Germany is China's largest trading partner in Europe, with a faster growth during 1993-2003, with an average annual growth rate of 16%. China's exports to Germany are mostly light industrial products, which are exported in large quantities but with low value content and high demand elasticity. Meanwhile, China's imports from Germany are mainly machinery and equipment, electronic and electrical products, automobiles and their parts, airplanes, optical instruments, plastic products, iron and steel products, iron and steel, copper and its products and organic chemicals and other commodities. Germany's high product quality, after-sales service, punctual delivery has won the trust of Chinese partners and consumers but at the same time the price is also high.
China's exports to France are relatively concentrated. 2004, China's exports to France the most of the top 10 categories of products in the following order: office machines and information equipment, clothing and fur products, sporting goods and toys, audio-visual reception and recording equipment and its products, leather products, travel goods and footwear, electrical equipment, sound and image transmitting and transmitting equipment, metal products, household appliances, Plastic products. France imported these 10 categories of products amounted to 12.12 billion euros, accounting for 73.5% of the total amount of French imports of Chinese products. Meanwhile, Sino-French bilateral trade has been growing rapidly in recent years.
Unlike Germany and France, the UK opened up to China earlier and trade growth has been more stable. China-Germany and China-France trade is more unstable, China-Germany bilateral trade had a negative growth in 1996 and 1997, China-France trade also had a negative growth in 1996 and China-Britain trade has been maintaining a positive growth. Although the growth rate of bilateral trade between China and Britain (15%) was slightly lower than that of China-Germany (16%) and China-France (17%) during the period of 1993-2003, it was more stable, so the change in the terms of trade was relatively smaller than that of China-Germany and China-France.
Overall, between 1993 and 2003, China's price terms of trade with Germany, Britain and France all showed substantial deterioration, but there were differences in specific product classifications and countries. In terms of product classification, the deterioration of manufactured products was greater than that of primary products, and among manufactured products, the deterioration of labor-intensive products was greater than that of capital- and technology-intensive products; in terms of countries, the deterioration of the terms of trade between China and the United Kingdom was relatively mild.
Reasons for the change in China's terms of trade with EU countries
(I) Overall price terms of trade deterioration
1. Export incentives such as export tax rebates. The Chinese government has adopted a series of policies such as export tax rebates and export subsidies in order to encourage exports. The export tax rebates and export subsidies have made many enterprises adopt the strategy of "only exporting, not domestic sales", because exporting means cost reduction. At the same time, since 1993, China began to reform the highly centralized foreign trade system, to further liberalize the right to operate foreign trade, decentralization of export approvals, at the same time, but also adopted export credit, export credit insurance and other financial measures and the establishment of bonded zones, to promote the export organization and so on. In this way, on the one hand, enhance the competitiveness of China's exports, and on the other hand, reduce the price level of exports.
2. The growth of domestic demand for imported products. In recent years, China's rapid economic growth, on the one hand, the domestic enterprises of advanced technology and equipment, foreign raw materials, intermediate products, the demand for more and more, and the degree of dependence is growing; on the other hand, with the improvement of people's living standards, the demand for foreign consumer goods is also growing. The demand from both sides causes import prices to continue to rise.
3. The presence of a large number of foreign capital in export enterprises. The Chinese government has also launched a series of preferential policies to attract foreign investment, especially since the 1990s, the share of foreign investment in China's export enterprises is growing, from less than 30% in the early 1990s to more than 80% in 2005. A large proportion of foreign investment is in transnational corporations (TNCs). In order to achieve the purposes of reducing tax burden, evading control and transferring funds and profits, they usually adopt the practice of importing raw materials, intermediate products and machinery and equipment at high prices and exporting manufactured products at low prices. That is, they raise the price of imported products and lower the price of exported products.
(ii) Deteriorating terms of trade for labor-intensive products
1. China's labor is cheap and in abundant supply. China's labor prices are very low, in 2004, the annual salary of unskilled labor is below 5,000 U.S. dollars, and the annual salary of skilled labor is slightly more than 5,000 U.S. dollars, which is much lower than the labor cost in Western Europe - both above 30,000 U.S. dollars. At the same time, China's labor supply is also very large, not only the existence of a large number of surplus labor in the countryside, can be engaged in a large number of low-skilled labor, but also with the expansion of colleges and universities, the competition in the job market for college graduates is becoming more and more intense. Adequate supply and fierce competition will naturally depress the price of labor.
2. The vicious price competition of export enterprises, especially labor-intensive enterprises. Most of China's export enterprises, especially labor-intensive products, are facing complete competition, with few brands that can be branded, low core value and strong substitutability; in order to be more competitive among the many homogeneous enterprises, these enterprises often adopt a low price strategy, resulting in the formation of a vicious circle, which can also be seen in the frequent anti-dumping of China's export products.
3. China's competitiveness in capital- and technology-intensive products has increased. Unlike labor-intensive products, capital- and technology-intensive products are relatively less substitutable. Moreover, with China's continuous introduction of foreign capital and advanced technology and equipment, China's competitiveness in capital- and technology-intensive products has been rising, so the deterioration in the terms of trade of such products is relatively better than that of labor-intensive products.
In short, the price terms of trade between China and the three major EU countries have deteriorated y over the past 10 years, but the degree of deterioration varies according to specific product categories and countries. On the one hand, China should continuously enhance the industrial upgrading of capital- and technology-intensive products and enhance the grade of labor-intensive products, and on the other hand, it should not be overly dependent on the main products when trading with other countries; while the volume has increased significantly, it should also pay attention to the terms of trade changes. Increasingly exporting products at low prices is not a long-term solution, and increasing the value of export products and thus improving the terms of trade cannot be ignored.
Analysis of China's Terms of Trade Trends and Problems
Du Zhejun
Abstract: In the process of the development of international trade theories, the "worsening of the terms of trade theory" put forward by Prebisch has had a profound impact on developing countries. Through theoretical and empirical analysis, it is believed that the terms of trade have deteriorated in the process of China's economic development, the causes of which are analyzed, and policy recommendations for improving China's terms of trade are put forward.
Body:
The Doctrine of Comparative Advantage, which was proposed by Ricardo in the early 19th century and developed by Heckscher and Ohlin in the 20th century, argues that international trade is beneficial to all countries in terms of comparative cost and factor endowment differences, and therefore advocates free trade and opposes trade protection. The doctrine of comparative advantage is therefore also regarded as the cornerstone of international trade theory. However, the emergence of the "worsening terms of trade theory" in the 1950s posed a major challenge to it, and had a significant impact on contemporary international trade, especially the development of trade in developing countries.
1?The content of the deteriorating terms of trade theory
1.1?The formulation of the deteriorating terms of trade theory and its main ideas
The deteriorating terms of trade theory is an Argentinean economist, Raul Prebisch, in response to the deterioration of the terms of trade of the primary products of the Latin American countries after the Great Crisis of 1929, submitted a report entitled "Economic Development of Latin America and its Development in Latin America and its Development in the 1990s" in May 1949 to the Economic Commission for Latin America (ECLAC) of the United Nations. in a paper entitled Economic Development in Latin America and its Principal Problems.
One of the most important challenges to traditional trade theory after World War II was the terms-of-trade debate. Prebisch concluded from his research that the terms of trade of developing countries were in a permanent state of deterioration. According to Prebisch, there are two main reasons for the deterioration of the terms of trade of developing countries:
First, the benefits of technological progress cannot be evenly distributed. Theoretically, if the incomes of developed and disadvantaged developing countries can increase according to the ratio of their respective productivity growth, then the relative prices of primary and manufactured goods will be adjusted according to the different ratios of productivity growth. In practice, however, the prices of both do not vary strictly in accordance with changes in productivity; when technological progress is realized, the price of manufactured goods does not necessarily fall, but rather rises if the incomes of entrepreneurs and factors of production increase more than the rate of productivity growth. In developing countries, on the other hand, their income growth is lower than productivity growth, so the relative price of primary products on the international market is on a downward trend.
Secondly, the monopoly of the market structure of manufactured goods. Because of the monopolistic nature of the international market for manufactured goods, the prices of manufactured goods declined much less than those of primary products during the world economic boom, causing the relative prices of the two, i.e., the terms of trade, to change in different directions. The terms of trade of manufactured goods rose, while the terms of trade of primary products, the main products of developing countries, inevitably worsened.
1.2?Development of the Deteriorating Terms of Trade Theory
After Prebisch had formulated this theory, Hans Singer expanded the field of application of this theory in the light of the actual situation of developing countries. Noting the fact that developing countries were increasingly exporting manufactured goods, he began to expand the terms-of-trade deterioration theory into the following three aspects: first, the rate of deterioration in the terms of trade of primary products in developing countries was higher than the rate of deterioration in the terms of trade of primary products in developed countries; secondly, the prices of manufactured goods exported by developing countries were falling faster than those exported by developed countries; and thirdly, the fact that primary products accounted for a higher proportion of developing countries' Third, the higher share of primary commodities in the exports of developing countries means that the deterioration in the terms of trade of primary commodities affects them more than developed countries.
In this way, Singh argues that an export-led strategy by developing countries to export labor-intensive manufactured goods instead of primary commodities will only result in transforming the content of the deterioration in the terms of trade, rather than addressing the root causes of the long-term deterioration in the terms of trade of developing countries.
2?Empirical Analysis of China's Terms of Trade and Development Issues
2.1?Empirical Analysis of China's Terms of Trade
Since the implementation of reform and opening up in the 1980s, China's foreign trade has made remarkable achievements, and it has jumped to be the world's fourth-largest trading country in 2003, which has become an important force driving the high-speed development of China's economy. From the point of view of the development trend, China's foreign trade is very satisfactory, in particular, the commodity structure of China's exports has realized transformation and upgrading, with industrial manufactured goods accounting for an absolute proportion. This situation would lead us to believe that the terms of trade of our country have greatly improved compared with the past. But is this really the case?
Based on the account of the terms-of-trade deterioration theory above, we know that a decline in the price of a country's exports relative to the price of its imports indicates a deterioration in the terms of trade, i.e., that the country has to export more goods in exchange for the same amount of imports. From 1998 to 2003, the relative prices of China's exports to imports, i.e., the overall terms of trade, declined by 14.2 percent, resulting in a negative income effect equivalent to 1.0 to 1.2 percent of GDP in 2000-2003. The decline in the terms of trade of manufactured goods has been the main cause of the overall decline in the country's terms of trade, with the terms of trade of manufactured goods falling by 14 percent and the terms of trade of primary products falling by 2 percent over the same period. In fact, from 1998 to the present, the terms of trade of manufactured goods and the terms of trade of primary products followed almost the same trend, but after 1999 the two began to go their separate ways, with the terms of trade of manufactured goods continuing to deteriorate and the terms of trade of primary products improving. Since primary products account for a relatively small proportion of China's foreign trade and the degree of improvement in the terms of trade is limited, they have failed to bring about an improvement in the overall terms of trade. It can be seen that China's terms of trade have not improved along with the rapid development of foreign trade.
2.2?Reasons for the deterioration of China's terms of trade
From the above analysis we can easily see that China's current development situation is very similar to what Prevish and Singh's terms of trade deterioration thesis discusses, but there are also specific circumstances of our own. So what exactly is the reason for the deteriorating trend in our terms of trade?
(1) changes in the structure of import and export products. China's exports in the proportion of manufacturing products is rising, the proportion of primary products have a great decline, while the international price of primary products in recent years rose much higher than the price of manufacturing products. From the point of view of exports, because of China's industrial restructuring and technological upgrading, the high technological content of products, high labor productivity, resulting in a large number of exports of certain products, thus depressing the international price. In addition, from the composition of imports, due to China's rapid economic growth, especially heavy, chemical industry production and investment growth, resulting in a large increase in the demand for crude oil, iron ore and other primary products, which accounted for the proportion of imports has also risen sharply. China's new iron ore imports accounted for 51% of the new global production in 2003, and the new crude oil consumption accounted for 35.3% of the new global volume. The import prices of these primary products have climbed in recent years due to the international political and economic environment. Prices of exported products have fallen while those of imported products have risen, which has resulted in the deterioration of our terms of trade.
(2) The result of intra-enterprise trade by foreign-invested enterprises. Intra-enterprise trade, as the name suggests, refers to the international trade carried out within the same enterprise, that is, in the multinational enterprise's parent company and subsidiaries, as well as between subsidiaries of the transnational trade behavior. In reality, multinational enterprises engage in intra-industry trade mainly for the purpose of utilizing transfer prices to obtain high profits. As far as multinational enterprises are concerned, the price of transactions that take place between their internal entities can be determined by the enterprises in accordance with the overall plan. Multinational enterprises in China often adopt the strategy of importing machinery, equipment and raw materials at a high price and exporting manufactured goods at a low price, in order to achieve the purpose of reducing the tax burden of enterprises, avoiding risks and controls, transferring funds and effectively sharing costs. And foreign-funded enterprises in China's trade volume has accounted for more than 1/2, so their practice makes China's terms of trade worsened.
(3) The imperfection of the tariff system. Although China in recent years has carried out in-depth reform of the tariff system, but China's tariff structure is still not reasonable, tariffs "false protection" phenomenon is serious, the actual collection rate of tariffs is significantly lower than the nominal collection rate. In the case of the average level of tariffs declined year by year, the actual collection rate has not been substantially improved, did not play its due protective role, and, for the processing trade in China's foreign trade accounted for most of the high tariffs on imports of raw materials, machinery and equipment will inevitably lead to the high price of imports; at the same time, the existence of export tax rebates, import tax reductions and exemptions, but also, to a certain extent, reduces the price of China's products. This in turn further worsens our terms of trade.
(4) the role of economic globalization. With China's accession to the WTO, the international call for trade liberalization in China is getting higher and higher, with the development of free trade, China's industrial arrangements are concentrated in labor-intensive industries, while ignoring the arrangements for knowledge- and technology-intensive industries, so that although China's comparative advantage, but in the long run will make China's economic development into a "comparative advantage trap This will make China's economic development fall into the "comparative advantage trap" in the long run. Moreover, because the developed countries have more knowledge and technology content compared with our country, the productivity of the developed countries to increase the speed and product renewal speed are faster than our country. This has further contributed to the deterioration of our country's terms of trade.
3?Policy suggestions to improve China's terms of trade
As mentioned above, China's terms of trade, especially the terms of trade of manufactured goods, are indeed in a constant deterioration, and with China's accession to the WTO, the use of tariffs, quotas, and other means to improve the terms of trade of China's space is getting smaller and smaller, China's terms of trade is likely to further deteriorate. The trend of deteriorating terms of trade will have an adverse impact on the sustained, healthy and rapid development of our economy. Therefore, we must take appropriate measures to improve China's terms of trade, to maintain China's economy in a favorable development trend, and to safeguard the brilliant achievements brought about by reform and opening up.
3.1?Optimizing and upgrading the industrial structure
As a country's trade structure is largely determined by a country's industrial structure, thus combining China's industrial technology level to formulate the corresponding industrial policy, realize the upgrading and optimization of comparative advantages, and enhance the international competitiveness of export products, is an important way to improve China's terms of trade.
(1) should increase the industrial transfer, under the premise of ensuring employment, vigorously develop capital-intensive industries mainly in electromechanical industries and new materials, medical, biological, information and other high-tech industries, accelerate the development of the knowledge-based economy, so that the structure of China's export commodities from labor-intensive to capital-intensive, and even more to the knowledge- and technology-intensive transformation. Although since the reform and opening up, China has actively carried out industrial adjustment, in 2003, the export of electromechanical products has accounted for 51.9% of the total exports, and the export of high-tech products also accounted for 25.2%, but compared with developed countries, there is still a big gap between the technological level and the scale of China's exports, so we have to actively attract the world's advanced technology, improve the technological content of China's products, and vigorously carry out industrial restructuring, develop capital and technology-intensive industries, and make great efforts in the development of knowledge and technology-intensive industries. structural adjustment, and develop capital- and technology-intensive industries.
(2) As China's labor-intensive and resource-intensive industries have a considerable position in trade, we should continue to give full play to our advantages of low labor costs and abundant resources and modernize them. We should vigorously strengthen the deep processing of traditional export products, improve their technological content, and actively infiltrate new technologies and materials into traditional industries, so as to promote the upgrading of labor-intensive and resource-intensive industries and enable them to regain their comparative advantages.
(3) We should also expand and improve the industrial chain, strengthen the basic industrial strength, and vigorously develop the parts and components processing industry to reduce dependence on imports of parts and components in the processing trade, so as to substantially reduce the negative impact of high-priced imports of intermediate products on the growth of export efficiency, and promote the improvement of the terms of trade.
3.2?Strengthen the construction of industry associations and import and export chambers of commerce as well as intermediary organizations
Under the conditions of the modern market economy, competition is oriented by market information, especially price information, which is the basis of an enterprise's business decision-making. Because of the institutional factors, our country's enterprises to obtain market information means is also extremely limited. In this case, to play a variety of trade associations, import and export chambers of commerce, the role of intermediary organizations is particularly important, they can undertake a lot of international trade in the affairs of the government or enterprise management is not appropriate. But in our country, these associations, chambers of commerce often with semi-official nature, accustomed to administrative management and seek their own economic interests. Sometimes they not only fail to be a good helper for import and export enterprises, but also create complications and give additional burden to enterprises. Therefore, we should vigorously strengthen the construction of various trade associations, import and export chambers of commerce, intermediary institutions, their market-oriented operation, get rid of the government color, and play a positive role in its collection of market information, coordination of competition in the industry, provide consulting services, and promote technological advances in the industry, as a means of promoting the development of China's trade.
3.3?Strengthen the reform of the tariff system
We should actively promote the reform of the tariff system, optimize the tariff structure, and promote the better development of China's trade. We should gradually abolish unreasonable tax reduction and exemption policies, especially to standardize policies on tariffs for processing trade, and strive to direct processing trade to bonded zones and export processing zones. At the same time, we should implement preferential tariff policies for the whole industry rather than for individual enterprises and projects; we should give national treatment to all enterprises at home and abroad in order to establish a level playing field.
3.4?Increase the reform of foreign trade enterprises
Improving China's terms of trade is a very complex process, but among them, we have to spend a lot of effort on reforming the foreign trade enterprises, because the foreign trade enterprises are the carriers for conducting import and export business, and only if they are adapted to the requirements of the economic development, it is possible to promote the healthy and smooth operation of China's trade. To this end, we need to deepen the reform of the foreign trade system, the real establishment of "clear property rights, clear rights and responsibilities, separation of government and enterprises, scientific management" of the modern foreign trade enterprise system; to strengthen the scientific and technological content of foreign trade operations, promote foreign trade enterprises from the rough to intensive transformation; at the same time, but also to change the situation of decentralized business enterprises, the implementation of the industry to concentrate strategy At the same time, it is also necessary to change the situation of decentralized business, implement the industry concentration strategy, realize the economy of scale, and thus promote the improvement of the overall quality of foreign trade enterprises.
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