| With the continuous development of China’s policy of introducing and absorbing foreign direct investment,China’s actual utilization of foreign direct investment has continued to rise.In 2020,China has become the country with the second largest amount of foreign direct investment in the world.However,with the increase of global collisions and frictions,under the severe domestic and international situation,it is more and more urgent to improve the ability of Chinese enterprises to capture added value and move to the high-end links of the global value chain.In this context,this paper proposes a study on the impact of FDI liberalization on China’s position in the global value chain,and aims to explore how to play the role of FDI liberalization policies from the perspective of upstream and downstream industry linkages,and promote the improvement of the domestic valueadded rate of manufacturing enterprises’ exports to effectively improve China’s position in the global value chain.This paper first reviews the relevant literature on FDI liberalization and global value chain,and uses the combined data of China Customs Trade Statistics(CCTS)database and Chinese manufacturing firm-level data from 2000 to 2006 to calculate the domestic value-added rate of enterprise exports,and constructs the degree of foreign capital liberalization through the changes of the items in the " Guide to Foreign Investment Guidance";secondly,through the chart analysis of the evolution trend of China’s foreign investment access policy,the process of FDI liberalization and the status quo of the global value chain;Then this paper uses the firm-level data from 2000 to 2006 to conduct empirical research.The estimated results show that FDI liberalization can significantly promote the improvement of Chinese’s downstream manufacturing enterprises’ DVAR.FDI liberalization has the greatest positive impact on DVAR of manufacturing enterprises in the eastern region,followed by the central region;FDI liberalization has a significant positive impact on the DVAR of private enterprises,but the promotion effect on state-owned enterprises is not significant.Through the impact mechanism test,this paper finds that “domestic intermediates enrichment” and“income effect” are the channels for FDI liberalization to promote the domestic value-added ratio of China’s manufacturing enterprises.Finally,this paper summarizes the status quo,mechanism analysis and empirical test results,and further puts forward corresponding policy suggestions: First,the government should implement more targeted foreign investment access policies to encourage foreign investment into industries in the central and western regions.Second,enterprises should innovate and improve their own development level.Third,we should further deepen regional market-oriented reforms and optimize the institutional environment in each region. |
