Regionalization is a major trend in the restructuring of global value chains today.Based on the input-output table in the UIBE Indi-cators Database,this article reveals the current evolution direction and regionalization trend of global value chains from the perspectives of trade distribution of intermediate goods,value chain length and location,respectively.It is found that:(1)The global distribution matrix of trade in inter-mediate goods has gradually thinned out during 1996-2018,aggregating to the three major regions of East Asia,Europe and North America,and the cen-ter of the global value chain has shifted eastward.(2)Countries that mainly export industrial goods move up the value chain,and industrial competition between China and the United States intensifies.(3)The re-gionalization of GVCs will evolve towards differentia-tion,proximity,digitization and greening.
Global value chainRegional-izationIndustrial division of labor