ABSTRACT

Global value chain refers to the effective linking and integration of activities dispersed in various value links around the world through the network organisation of global enterprises in order to better meet the requirements of consumers or users to maximise value in economic globalisation, i.e. using a certain governance mechanism to institutionalise the various value-added activities such as design, product development, manufacturing, marketing, delivery, consumption, after-sales service and recycling located in various countries, and to realise the value of all participants according to certain principles. In recent years, global value chain plays an ever-apparent dominant role in global economy. With the advent of a new round of technological and industrial revolution, the conventional value chain is confronted with the need for change, so a new global value chain is in process. Xi Jinping has mentioned on a number of occasions the need to collectively forge a new global value chain to realise mutual beneficial development among all countries. 1