Research On The Influence Of The Establishment Of Overseas Parks On The Upgrading Of Global Value Chain Of China’s Manufacturing Industry

After the reform and opening up,China’s manufacturing industry relies on the advantage of low production costs to embed in the low-end links of the global value chain and develop labor-intensive industries on a large scale.However,with the gradual disappearance of China’s demographic dividend and the rise of production costs,China has gradually lost its advantages in labor-intensive industries.It is urgent to find a new path to realize the upgrading of the manufacturing value chain.As a new mode of foreign direct investment,overseas parks are of great significance for China’s manufacturing industry to reduce production costs,reduce investment risks and avoid trade barriers.By establishing overseas parks in the host country,Chinese manufacturing enterprises can obtain factor resources and reduce production costs,so as to effectively promote the development and industrial optimization and upgrading of China’s manufacturing industry,and provide a new idea for China’s manufacturing industry to upgrade its value chain.After combing the relevant literature on overseas parks and the upgrading of the manufacturing value chain,this paper carefully analyzes the practical characteristics of the construction of China’s overseas parks and the status of the manufacturing value chain,and further explores the intermediary mechanism that overseas parks establish to affect the upgrading of the manufacturing value chain from the perspective of optimal allocation of resources and optimization of export structure.Finally,according to the research content of this paper,85 overseas parks whose leading industry is manufacturing are selected as the research samples of this paper.By constructing an econometric analysis model and using the data from 2007 to 2018,this paper empirically studies the impact of the establishment of overseas parks on the upgrading of the manufacturing value chain.At the same time,this paper divides the manufacturing industry according to different resource types and different technology levels,and studies the impact of overseas parks on the upgrading of China’s manufacturing value chain from the perspective of industry heterogeneity.Finally,the mechanism is tested from two aspects:the optimal allocation of resources and the optimization of export structure.The empirical conclusions of this paper are as follows:(1)The establishment of overseas parks can promote the upgrading of China’s manufacturing value chain.(2)For both resourcebased industries and non-resource-based industries,the establishment of overseas parks has a positive impact on the upgrading of the manufacturing value chain,but the impact of nonresource-based industries is greater.(3)For low-tech industries,medium tech industries and high-tech industries,the impact of the establishment of overseas parks on the upgrading of China’s manufacturing value chain is different.The establishment of overseas parks with lowtech industries as the leading industries will inhibit the upgrading of the manufacturing value chain,while the establishment of overseas parks with medium and high-tech industries as the leading industries will promote the upgrading of the manufacturing value chain,and the impact of high-tech industries is greater.(4)The establishment of overseas parks will promote the optimal allocation of resources and ultimately promote the upgrading of China’s manufacturing value chain.(5)The establishment of overseas parks will promote the upgrading of China’s manufacturing value chain by driving the optimization of China’s export structure.Based on the research conclusion of this paper,this paper puts forward targeted suggestions for the government and enterprises to develop overseas parks and realize the upgrading of manufacturing value chain.This paper argues that the government level needs to improve the relevant supporting policies and institutional norms of overseas parks,strengthen consultation and cooperation with the host government,and increase policy and financial support for overseas parks;Enterprises should promote the formation and development of industrial clusters in the park,pay attention to the connection of domestic and foreign value chains,and carry out the training and introduction of high-quality talents.