The Driving Forces of China’s Manufacturing Industry’s Value-added Capacity in the Belt and Road Region

China Business and Market - - CHINA BUSINESS AND MARKET - OUYANG Yan

(Graduate School of Chinese Academy of Social Sciences,Beijing102488,China)

Abstract:The Belt and Road Initiative is China’s development strategy under the background of economic globalization; the purpose of that is to pursue the diversified,independent,balanced and sustainable development of all the countries along the Belt and Road;and it will be beneficial for China’s manufacturing industry to realize the transformation of its capital-intensive subsections and its own added-value by reducing cost. The author screens the subsections with the help of input-output ratio,and explains the driving forces for China’s manufacturing industry to realize the added-value in the Belt and Road region based on the four-factors-theory of smiling curve. It is found that:first,the position of China’s manufacturing industry in global value chain is low in terms of input-output ration,the degree of participation in global value chain is higher,and the rank in terms of revealed comparative advantage has been gradually improved year by year;differences among subsections of China’s manufacturing industry are significant,and the development of such high-tech industries as electronic and optics industries is the sources for us to improve the capacity for value- added;and we should increase investment of equity fund,consolidate the advantage of advanced technology by using technology commercialization and venture capital, enhance the core competitiveness of enterprises,consolidate and strengthen the advantage of high profit points in smiling curve,fundamentally improve enterprises’ capacity for value-added,promote the transformation from producer to producing servicer,and foster the comparative advantage by controlling value-added to improve our position in global value chain.

Key words:the Belt and Road Initiative;manufacturing industry;labor division in global value chain;value added;com⁃

Newspapers in Chinese (Simplified)

Newspapers from China

© PressReader. All rights reserved.