Analysis of Chinese SMEs'Embedment in Global Value Chain:Comparative Analysis Based on RCEP Member States
The RCEP agreement fully affirms the significance of small and medium-sized enterprises(SMEs)in regional economic development,and cooperates on improving the market access of SMEs in member states and strengthening SMEs'participation in global value chain(GVC).A comparative analysis about the current status of GVC embedment of SMEs of RCEP member states is conducted from the perspectives of rate,industry distribution,mode and position of SMEs'GVC embedment.It is found that the GVC embedment rate of Chinese SMEs is relatively low because of the shortages in financial constraints,independent innovation and the adoption of new technologies;The differences in government policy support for SMEs have led to state gap and industry gap of SMEs'GVC embedment between China and developed member states;Under the background of GVC reconstruction,the industries and ways of Chinese SMEs'embedment in GVC have led to the challenge in terms of climbing the value chain,as well as being excluded from the global value chain.Therefore,China's SMEs should focus on building their own GVC embedment capacity in learning,innovation and digitalization.Additionally,in the context of higher-standard opening-up and with the support of relevant government policies and measures as well as a sound service system,China's SMEs should also seize the opportunities brought by RCEP agreement,actively improve their embedment in global value chain,and promote regional economic development when sharing the dividends of RCEP agreement.
RCEP agreementRCEP member statesSMEsembedment in global value chaincause analysis
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