The Impact of the "Belt and Road" Initiative on China's Export Trade

Abstract

Since the introduction of the "Belt and Road" initiative, China's export trade has witnessed opportunities for expansion and development. The increasing cooperation with countries along the Belt and Road has led to a rapid increase in export volume, particularly driven by infrastructure connectivity and industrial cooperation advocated by the initiative. This has effectively facilitated the development of high-tech industries and boosted the rapid growth of exports of high-value-added products. However, in just a few years, the Belt and Road initiative has also highlighted certain problems in China's export trade. China's export trade still exhibits a certain degree of market dependence. While many emerging industries are experiencing growth, the global competitiveness and international influence of Chinese enterprises need further enhancement. These shortcomings hinder China's exports from achieving a strategic upgrade in terms of quality rather than just scale. Therefore, China needs to comprehensively enhance its supply-side capabilities. This can be achieved by strengthening domestic reform and opening up, intensifying the integration of domestic resources, promoting the coordinated development of industrial chains, enhancing technological innovation, and building stronger brands. By nurturing more globally competitive enterprises, China can inject new momentum into its export trade. Only through these measures can the expansion of export scale based on performance evolve into a sustainable improvement in export quality. Thus, it is imperative for the Belt and Road to truly become an urgent driver for China's export trade to undergo a new transformation.