With the normalization of epidemic
prevention and control, global economic recovery has become the main theme of
today's world. As an important carrier of the "Belt and Road"
interconnection between China and European countries, the China-Europe Express
has played an irreplaceable role after the 2008 financial crisis and the new
crown pneumonia in 2020. It is important to study the impact of the opening of
the China-Europe Express on the growth of Sino-European trade. The importance
has become increasingly prominent. This paper selects the country-level panel
data of 36 European countries from 2006 to 2017, and uses the multi-period
difference in difference method to empirically test the impact of the opening
of the China-Europe express train on the growth of China-Europe trade. The main
conclusions are as follows: first, the opening of the China-Europe express
train has a positive effect on the growth of China-Europe trade, and the
positive promotion effect of the opened countries is significantly greater than
that of the non-open countries; second, in 2011—2017, the opening of the
China-Europe express train will promote trade with European countries and the
impact presents a dynamic trend feature of "first decline, then rise, then
decline and then rise"; third, from the perspective of geographic location
differences, the China-Europe Express has the
strongest promotion effect on the trade growth of Central European countries,
followed by Eastern European countries with the least impact of Nordic country;
fourth, from the perspective of the role of the dual margin, the promotion of
Sino-European trade growth comes from the dual margin of enterprises, that is,
the growth of trade is achieved through the intensive margin and expansion
margin of export companies.