Abstract:
With a new generation of information revolution, the construction of new digital infrastructure has become a strong support for high-quality economic development in China and countries along the Belt and Road. This paper constructs an intermediary model to analyze the impact of new digital facilities on foreign trade, based on the data of 353 listed companies in China and panel data of 64 countries along the Belt and Road from 2013 to 2019. The research shows that China's new digital infrastructure has a significant promotion effect on bilateral trade and import and export trade between China and countries along the Belt and Road, but the mechanism of action is different. The impact of new digital infrastructure on China's bilateral trade and import trade with countries along the Belt and Road depends on trade cost and total factor productivity, while the impact of new digital infrastructure on China's export trade with countries along the Belt and Road mainly depends on trade cost. On this premise, when accelerating the construction of new digital infrastructure, China should pay attention to rational layout, cultivate new drivers of trade growth and optimize the layout of export structure.