Value Chain Upgrading Path for Chinese Firms under the Supply Chain Shock:Also on Theoretical Causes and Empirical Analysis of the Heterogeneity of Value Chain
Ensuring the security and stability of the industrial chain and supply chain is crucial to the high-quality development of China's economy,therefore a comprehensive identification of the layout character-istics of firms value chain is urgently needed to explore high added-value upgrading path of various indus-tries,so as to realize the strategic design and targeted policy implementation of different industries.This paper constructs a theoretical framework that can be used to study how firms with different value chain po-sition and distribution achieve high added value increase.We use the merged data of the Annual Survey of Industrial Firms and the China Customs Data,and examine the relationship between firms'position on value chain and the domestic value-added.We have the following findings:First,in general,the value-added of China's manufacturing industry is reflected more in the upstream key components sector and downstream product marketing,while the added value of the intermediate manufacturing stage is relatively low.Second,the value chain distribution of different industries shows distinct heterogeneity,that is,some subdivided industries present a"smile curve"shape,some a"Musashi curve"and others a monoto-nous curve,therefore,their respective high added-value upgrading path should be differentiated.Third,the productivity gap and entry cost gap between the firm and its upstream and downstream firms are key to tell the value chain layout of industry.Fourth,firms should choose differentiated value chain upgrading strategies based on the configuration of the industry's value chain and their own position,and selectively adopt"strength","supplement","extension",and"concentration"measures to achieve targeted design of value chain upgrading strategy.Hence,it is crucial to adhere to the principle of"climbing up the both ends of the value chain to gain high added value",while enhancing the innovation capabilities,emphasiz-ing the manufacturing stages,and implementing targeted policies based on the value chain layout character-istics so as to guide firms in selecting effective upgrading strategies.
upgrading path for value chainvalue chain positionsupply chain shock
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