Approach To The Construction Of "One Belt One Road" Regional Value Chains Leaded By China

Since the financial cirsis broking out in 2008,the weakness of the mode utilizing the advances of low-price labor source by which Chinese equipment manufacturing industry had participated in GVCs by has been exposed gradually.Participating in GVCs mainly by processing trade leads to the result that China has obtained little gains,and by far the"low-end lock" and domestic overcapacity have hindered the pace of our equipment manufacturing industrial transformation and upgrading.At the same time,the returning manufacturing of developed countries and the advantage of low-price labor source in the emerging markets have posed double pressures on domestic equipment manufacturing.Obviously,It is necessary construct a brand-new regional value chain leaded by our country by virtue of the raise of'one belt one road"proposal,which allows our equipment manufacturing industry to jump into higher scales,helps the development of delevoping countries in this region and also promotes the re-balance of the structure of global economy.In view of this background,this article discessed following aspects:Firstly,we proposed the meaning of "one belt one road" regional value chain leaded by China,and pointed out the conditions of constructing and leading the RVC by analysing correlation theory and cases of East Asian car manufacturing and Brics production network,providing experience for reference on our RVC construction.Secondly,based on the WWZ trade accounting framework and the data from the WIOD in 2016,we analysed the realistic basis of the coustruction of RVC leaded by China from the aspects of relational degree of countries alongside to RVC and the leading capacities of China,utilizing indicators such as RVC_par,VSS,FD,RCA,etc.We found that the comolementarity was stronger than competitiveness in this region,and especially countries form Mideast Europe like Hungury?Czech republic have relied more and more on the intra-regional upstream market and final product market,which means that the "one belt one road"region has a urgent need of coustruction of equipment manufacturing industrial RVC alongside.At the same time,the equipment manufacturing industry in China had conquered a comparatively high-added value sector and could also satisfy the upstream need from intra-regional countries,which proves that we have already had the capacity of constructing and leading the RVC.Thirdly,based on the accounting results and theories,we proposed the operating mechanism of "one belt one road" RVC,which means establishing a division system including a few fulcrums and levels and exploiting more intra-regional demands.Finally,based on the operating system and previous analysis,we put forward some specific and feasible recommendations,including;insist on the principle of weakening politics,improve the innovation ability,promote manufacture-related service industry,integrate domestic equipment manufacturing industies,build up self-owned brands and improve the establishment of infrastructure alongside.