Impact of Financial Reform on China's Import of Forest Products from "The Belt and Road" Countries

To construct a theoretical framework of financial reform and forest product trade, we use the stochastic frontier model to conduct benchmark regression and robustness test with countries that have signed "The Belt and Road" agreements with China as samples, and empirically analyze the impact of China's financial reform on forest products imported from "The Belt and Road" countries from 2005 to 2019. The research shows that when other factors remain unchanged, China implements currency appreciation faster than its partners, lowers interest rates and improves financial and monetary freedom, which is conducive to promoting China's import of forest products from the "The Belt and Road" countries. Among them, interest rate has the biggest impact on forest product import. Therefore, China should persist in financial reform, reduce the cost of forest product enterprises by appropriately lowering exchange rate and interest rate, accelerate the speed of monetary and capital integration, and effectively improve the operating efficiency of the financial system. At the same time, cooperation among "The Belt and Road" countries should be strengthened, and green finance and green trade should develop together.