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| The Participation and Embedding Position Measurement, Influencing Factors, and Upgrading Strategy of the Global Value Chain of China's Producer Services |
| Han Shenchao |
| (School of Economics, Hangzhou Dianzi University, Hangzhou 310018, China) |
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Abstract With the acceleration of the digital revolution and the liberalization of service trade, service sectors have become new sources to improve national participation and embedding position in the global value chain (GVC) and realize the added value of goods and services. China has been stuck in the middle and lower reaches of the GVC for a long time due to the late and low-level start of the service industry, and it is difficult to realize the transformation from being "made in China" to "served in China". Despite the self-evident importance of the service industry's involvement in consolidating and restructuring the global value chain, most previous research has laid much emphasis on the manufacturing industry over service industry, or simply regard the service industry as a "supplement" or "intermediate input" to the manufacturing industry, and the current status and contribution of the service sectors’ participation in GVC are seldom discussed, especially the producer services. In the view of the "smiley curve", the high end of GVC is concentrated in producer services at both ends, and this paper focuses specifically on the producer service industry which is the core of the integration of the IT application with industrialization and the strategic high point of global industrial competition. It aims to explore the participation and position status of producer services of China in the global value chain, analyze the spatial and temporal evolution of producer services' GVC participation and position to find the gap among major economies, and clarify the key factors influencing the participation and position of producer services in GVC to put forward the path and upgrading strategies for producer services in GVC and pursue high-level opening and high-quality development.#br#With the help of the trade flow decomposition data of UIBE GVC-ADB MRIO database, the study conducts calculation and measurement of the participation and position of producer services in the global value chain of 60 countries (regions) from 2007 to 2020, and constructs three groups of comprehensive indexes of the business environment, factor quality and innovation capacity to empirically test the factors potentially influencing the participation and position of producer services in GVC. The results show that (1) China's producer services have relatively low average participation in the global value chain, meanwhile, the average position of producer services is relatively high, especially since the international competitiveness of the financial industry and telecommunications industry are high; (2) according to the regression results, business environment and factor quality factors significantly promote the GVC participation of producer services, and innovation capacity factors significantly promote the GVC position of producer services. Moreover, the results of the heterogeneity effect test considering regional differences in economic development level confirm that GVC participation and position of producer services in countries(regions) with higher economic development levels are mainly affected by factor quality, while countries(regions) with lower economic development levels are mostly driven by factor quality and innovation capacity.#br#This paper herein puts forward the upgrading strategies of the global value chain of producer services in China. The first is to create a first-class international business environment and enhance the participation of producer services in GVC so that China could take advantage of digital reform to improve the efficiency of government services, optimize the efficiency of tax collection and administration, provide high-quality public services and accelerate the institutional opening-up pace of the service sector. The second is to optimize the quality of factor input and increase GVC participation in producer services by accelerating the implementation of the Foreign Investment Law and supporting regulations, simplifying foreign investment procedures, improving investment supporting facilities, and constantly optimizing the follow-up service level of investment enterprises. Lastly, it is essential to maintain the stability of the GVC of producer services and "climb up" the value chain with more independent innovation capacity by continually increasing investment in R&D and supporting producer services for service innovation, strengthening intellectual property rights protection, and enhancing the overall international competitiveness of service enterprises. The paper integrates international business theories, GVC-related theories and research results in the field of trade and investment in producer services, and it is expected to help local service enterprises to break the "low-end locking" of the service industry and participate in international competitions.#br#
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Received: 09 August 2022
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