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Grasping the new trend of global industrial transfer and promoting the re-upgrading of China's manufacturing value chain

Feb 11,2023

Against the background of further deepening of global value chains in manufacturing, China has the opportunity to build on its dominant position in global manufacturing value chains formed over the past decade or so, actively lead the way and scientifically lay out a manufacturing value chain system with Made in China as the core and leading edge, deeply integrating advanced industrial and technological resources from developed countries, covering the production and manufacturing systems of India and Southeast Asian countries, and radiating markets around the world.

On the basis of innovation drive and vigorous improvement of the business environment, etc., China should take the initiative to strengthen the global value chain linkages with the countries taking over traditional industries. By reasonably guiding the regions and industrial links of China's manufacturing industries to be transferred outward, we should establish efficient and scientific division of labour and supporting links with domestic industries, and at the same time pay attention to the integration of the decentralised investment mode dominated by enterprises and the construction of the cluster investment mode of mutual collaboration, so as to form an outward investment pattern including diversified modes of equity investment, trade and production outsourcing. Increase the integration of the value chain with the second-tier countries in the global manufacturing industry and accelerate the introduction of high-quality foreign investment and technology. In recent years, China's technological cooperation with the second-tier manufacturing countries such as Japan, South Korea and Germany has been increasing, and the characteristics of horizontal division of labour have gradually emerged. Continuing to strengthen this development is consistent with the need for these countries to realise the greater value of their existing core technologies, and is also an important opportunity for China's manufacturing industry to "fill in the gaps" and upgrade its value chain.