Technological Content of the Import of Services and the Transformation of Growth Patterns of China’s Industrial Economy

Dai Xiang 1,2 and Jin Bei 2

1 Anhui University of Finance and Economics, Bengbu, China
2 Institute of Industrial Economics, the Chinese Academy of Social Sciences, Beijing, China

Abstract:  Based on the latest approach for measuring technology content of import of services and with the contribution of total factor productivity (TFP) to gross industrial output as the indicator for measuring the growth pattern of China’s industrial economy, this paper provides an empirical study on the effect of import technology content of trade in services on the development pattern of China’s industrial economy between 2004 and 2011. Result of econometric test reveals that the technology content of import of services has a significant positive effect on transforming the growth pattern of China’s industrial economy. Moreover, import of new types of trade in services with high technology such as computer and information services has a much stronger positive effect compared with import of traditional trade in services with relatively low technology content such as transport. In terms of different industrial sectors, technology content of import of services has the greatest effect on transforming the development pattern of China’s technology-intensive industrial sectors, followed by capital-intensive, resource-intensive and labor-intensive sectors respectively. Transformation of the development pattern of China’s industrial economy cannot be isolated from the system of global division of work. Against the backdrop of global service sector fragmentation, China should take the important opportunities in the development of global trade in services and give more attention to improving the quality of import of services in the interest of transforming the development pattern of its industrial economy.
Keywords:  trade in services, technology content of import, development pattern of industrial economy

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