ABSTRACT
This paper focuses on the path of China’s participation in global value chain reconstruction and concludes three ways to reconstruct the global value chain: embedding in the global value chain, reconstructing the national value chain, and leading the regional value chain. Based on the value-added accounting system and the latest statistics of the TiVA database, we construct an index system for the path selection of global value chain reconstruction and put forward a more suitable path for different manufacturing industries in China. According to the VRCA index and ranking of each type of manufacturing industry, our study concludes that: transportation equipment manufacturing tends to embed in global value chains;textiles, clothing, leather, and related manufacturing;wood products, paper products, and printing;chemical and non-metallic mineral products;base metals and metal products;computer, electronic, and electrical equipment manufacturing;machinery and equipment manufacturing;and other manufacturing industries tend to dominate the regional value chains;and food and beverage manufacturing and tobacco industries tend to restructure national value chains. Finally, our paper gives suggestions and prospects for path upgrading;promoting the integrated development of e-commerce and the manufacturing industry can enhance the competitive advantages of China’s manufacturing industry and achieve path upgrading and optimization. Furthermore, the two-way nesting of the “Belt and Road” regional value chain and global value chain can help China’s manufacturing industry eliminate the dilemma of low-end lock-in and upgrade from the original low-end dependent embedding mode to the middle high-end hub embedding mode.