The Impact Of China-ASEAN Regional Value Chain On The Transformation And Upgrading Of China’s Manufacturing Industry And Its Countermeasure

Since China’s accession to the WTO,China’s manufacturing industry has made great progress,but for a long time,the "low-end lock-in" in the global value chain has made China’s manufacturing industry "big but not strong".Due to the rising labor cost and land cost in China,more and more multinational companies are gradually moving the middle and low end manufacturing links from China to Southeast Asia and South Asia.Coupled with the implementation of the Western strategy of "re-industrialization",China’s manufacturing industry is faced with the awkward situation of "high-end reflux" and "middle and low end diversion",which is in urgent need of transformation and upgrading.As the largest trading partner of China,ASEAN and the two sides have a good foundation for economic and trade cooperation.The China-ASEAN regional value chain has become a new way to promote the transformation and upgrading of China’s manufacturing industry.Has the China-ASEAN regional value chain based on intra-product division of labor affected the transformation and upgrading of China’s manufacturing industry? What is the mechanism? How to use China-ASEAN regional value chain to further promote the transformation and upgrading of China’s manufacturing industry in the future? It is of great practical significance to explore the above problems.Based on the theory of regional value chain and industrial transformation and upgrading under the value chain,this paper explores the influence of China-ASEAN regional value chain on the transformation and upgrading of China’s manufacturing industry,and provides corresponding countermeasures and suggestions with the realistic background of the trade of manufacturing intermediates between China and ASEAN.It mainly includes the following research contents: First,literature review,sorting out the theoretical origin of regional value chain,the theory of transformation and upgrading from the perspective of value chain,the development status of China-ASEAN regional value chain,and the latest practice of the influence of China-ASEAN regional value chain on China’s manufacturing industry.Secondly,it explains the theoretical mechanism of the influence of China-ASEAN regional value chain on the transformation and upgrading of China’s manufacturing industry and makes an empirical analysis.In terms of theoretical mechanism,it discusses the influence of China-ASEAN regional value chain on the rationalization and upgrading of China’s manufacturing industry structure from the perspectives of import intermediate goods and export intermediate goods.Thirdly,it calculates the transformation and upgrading of China’s manufacturing industry from two dimensions of rationalization and refinement respectively,and estimates the depth of its integration into the value chain of China-ASEAN region from two perspectives of export intermediates and import intermediates,and establishes relevant econometric analysis models to carry out empirical analysis of the relationship between the two.At the same time,the moderating effect of technology intensity and green level on the value chain of China-ASEAN region affecting the transformation and upgrading of China’s manufacturing industry is explored.The research results show that(1)the integration of export into the value chain of China-ASEAN region will have a positive impact on the rationalization and upgrading of the structure of manufacturing industry,among which the integration of medium and technology-intensive manufacturing industry into the value chain of China-ASEAN region through export has the largest promoting effect on the rationalization of the structure of manufacturing industry.The integration of high-tech intensive manufacturing industry into the value chain of China-ASEAN region through export has the greatest promoting effect on the upgrading of manufacturing structure.(2)The integration of imports into the value chain of China-ASEAN region has an inhibitory effect on the rationalization of the structure of manufacturing industry,and the integration of technology-intensive manufacturing industry into the value chain of China-ASEAN region with imports has the greatest inhibitory effect on the rationalization of the structure of manufacturing industry,and the import of manufacturing intermediates with low green development level will strengthen this inhibitory effect.(3)The integration of imports into the value chain of China-ASEAN region will have an inhibitory effect on the upgrading of high-tech intensive manufacturing.This paper puts forward the following countermeasures and suggestions: China should promote the development of China-ASEAN regional value chain and use it to promote the transformation and upgrading of China’s manufacturing industry.(1)China should improve the way in which imports are integrated into the value chain of China-ASEAN region;(2)Give full play to the positive role of importing into the value chain of China-ASEAN region and reduce its inhibitory effect.