At present,Europe and the United States are accelerating the transfer of their industries to outside China through financial subsidies,key technology blockades,near-shore outsourcing and other measures.Furthermore,the eastern China is gradually losing its advantage in terms of the cost of land,labor and other factors.At the present stage,China's industrial transfer is a"two-way transfer":the outward transfer of the low-end manufacturing and the return of the high-end segment.The existing studies are still controversial as to which of the two trends dominates the inward and outward transfer of domestic industries at this stage.What's more,few studies have focused on the comparative analysis of the advantages and disadvantages of the central and western China with those of the foreign receiving places.The main reason for the controversy is that most of the methods for identifying industrial relocation use relative indicators,instead of absolute indicators such as changes of enterprises'location.Against this background,this paper raises the following questions:In the context of the current global value chain restructuring,has there been a significant outward transfer of domestic industries?What are the major receiving countries?What are the main drivers behind the transfer of domestic industries at this stage?How to cope with the outward transfer of domestic industries?Can the transfer of domestic industries to the central and western China be used as a maneuvering space for China's development and a hedging mechanism against the outward transfer of industries?To answer these questions,we manually collate the reports of listed companies from 2018 to 2023 to identify the trends of industrial transfer,based on the Wind database,and using information related to enterprises'location changes,such as newly built projects and production bases,and change of registered address.It is found that,the domestic industrial transfer mainly shows the trend of inward rather than outward migration at this stage,i.e.,the central and western China are the main receiving places of domestic industrial transfer.The main drivers of this trend are optimizing strategic allocation of industries in response to the transformation of the domestic factor structure,avoiding the risk of uncertainty,and the guidance of regional development strategies and policy support.There are advantages as well as challenges for central and western China to undertake the transfer of domestic industries:a superior foundation for industrial agglomeration and clustering,with the system of industrial support yet to be enhanced;the generally low cost of production,which is being eroded;relatively favorable transport infrastructure,with the degree of coverage and the level of interconnection yet to be improved;relatively high market potential,with business environment to be optimized.Accordingly,it is proposed that we should pay more attention to safety while taking into account efficiency in the layout of the industrial chain at this stage,cultivate and continuously improve the dynamic competitiveness of the central and western China in undertaking industrial transfer,build a national wide integrated market with inter-regional interconnections to promote the internal relocation of industries,and take multiple measures to optimize the business environment in the central and western China.
Industrial transferTransformation and upgradingIndustrial and supply-chain securityCentral and western China
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