Are China’s Renewable Energy Products Competitive in the Context of RCEP?

Abstract

In recent years, in order to address climate change and energy depletion, countries around the world have been constantly promoting energy transformation and structural upgrading. The effectiveness of RCEP has broadened the international east Asian new energy market. The development of renewable energy trade in the context of RCEP has attracted significant economic, environmental, and technical attention. Based on the background of RCEP in this study, the constant market share (CMS) model and the weighted dominant comparative advantage (IRCA) index are used to assess the export competitiveness of renewable energy products from 2006 to 2021. The data in this paper were obtained from the UN comtrade database according to the categorical statistics of HS codes. The results show that: (1) the overall competitiveness of Chinese renewable energy products shows an upward trend; (2) the comparative advantages of Chinese renewable energy products are strong, with some differences among different industries; (3) the growth effect is the main reason for the fluctuation of Chinese renewable energy product exports; and (4) the signing of RCEP has injected new vitality into Chinese renewable energy trade. Finally, based on the research conclusions, the paper puts forward corresponding policy proposal.