The Complementarity of China-EU Industrial Manufactured Products Trade based on the Belt and Road Initiative

Abstract

: As the final node of the "One Belt One Road" initiative, Europe is also Chinese largest trading partner, and has always played an important role in the exchange of goods between the East and the West. The commodities traded between China and Europe are generally based on manufactured products. This article aims to study the complementarity of China-EU industrial trade based on the "Belt and Road" initiative. Survey and the proportion of Central European countries in all levels of manufactured goods trade. This article proposes to use an analytical method to explore the important factors affecting the trade complementarity of China and European industrial products, and use the intra-industry trade index, business complementarity index and business integration index to analyze the complementarity of industrial products between China and European countries. Then through the analysis of the development status of the industrial products trade of the two sides, the overall trend of the industrial products trade development of the two sides can be obtained. The results prove that China and European countries are highly complementary in low- and medium-tech industrial manufactured products, with a trade complementarity index of 1.798, which is relatively stable and both are greater than 1, and there is great potential for development. However, as a whole, the complementarity of manufactured products with medium and high technology content is relatively low. The average trade complementarity index is 0.792, and the index is less than 1, and the development potential is relatively low. As far as high-tech industrial products are concerned, they are highly complementary to some European countries, but not highly complementary to other European countries, but generally speaking, their development potential is very good and relatively optimistic. Therefore, studying the complementarity and competitiveness of China-Europe industrial products trade will help to understand the current situation analysis some high-tech industrial products. Countries that low-tech and medium- and low-tech industries. competitiveness China-Europe industrial products of similarity, and the two their