Research on the Influence of Digital Finance on the Technical Complexity of Manufacturing Export
Year: 2024
Type: article
Abstract: Since China's accession to the WTO opened the door to global trade, the total export volume of China's manufacturing industry has continued to grow, and in 2023, China's manufacturing export volume ranks first in the world. However, in recent years, China's land, raw materials and labor costs have been rising, and foreign investment policy barriers have increased, making China's manufacturing industry face many challenges. Relying on the "quantity" alone to boost foreign trade is obviously not realistic, and improving the "quality" of export products has become a new foreign trade growth point. At the same time, digital finance, which is deeply integrated with digital technology and inclusive finance, has developed rapidly in China and achieved good practical results. Compared with traditional finance, digital finance has greatly improved the coverage and availability of financial services, and provided sufficient funds and technologies for all social strata with high efficiency and low cost. It provides a strong support for the improvement of the technical complexity of manufacturing exports, and makes a positive contribution to promoting the steady improvement of the status of China's manufacturing industry in the global value chain. To sum up, it is of great significance to study the impact of the development of digital finance on the technological complexity of manufacturing export and cultivate export competitive advantage.
DOI: 10.54097/fw8dsp06
Author: Shuyu Gao
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404862526