Research On Convergence Degree And Performance Of Equipment Manufacturing Industry And Modern Service Industry

Equipment manufacturing industry is the core and foundation of China's industry,and also the national strategic industry.At present,Chinese equipment manufacturing industry is developing rapidly,but still at the low end of global value chain.With the rising of service industry,it plays an important role on financial,technical and environmental support to the equipment manufacturing industry.And the servitization of manufacturing has been paid great attention.So the research on convergence of equipment manufacturing industry and modern service industry from the perspective of generalized virtual economy is of great significance.It will promote the development and the position of GVC of China's equipment manufacturing industry.In this paper,from the perspective of generalized virtual economy,the motivation,degree,performance and effect on GVC of industry convergence between equipment manufacturing industry and modern service industry will be analyzed.First,based on the theory of generalized virtual economy,industry convergence and GVC,the motivation and effect on GVC are analyzed.Then,the modern service industry is re-categorized and the degree of convergence is calculated by method of input-output tables.After that,the performance of convergence will be calculated by method of composite system coordination degree,vector autoregressive(VAR)and grey correlation degree.It shows that the convergence is significant and the composite system developed harmoniously.Overall,industry convergence degree is the Granger reason of the GVC status of equipment manufacturing industry,and it has a positive effect on GVC upgrading.From the perspective of sub-sectors,finance and business services which are more generalized-virtual perform well,so as transportation & logistics service industry,but internet & information and science & technology services should be concerned.Finally,the paper puts forward the suggestions to promote the convergence between equipment manufacturing industry and modern service industry reasonably and efficiently and upgrading to the high-end of GVC based on the result of the empirical analysis,providing a reference for the development of equipment manufacturing industry.