Importance of global value chains stressed

The term "global value chain" is not only a concept but also a real instrument that can help, according to top trading experts.

China should actively participate in the global value chains to accelerate manufacturing upgrades and further drive up supply chain reform, said Qian Keming, vice-minister of commerce.

A global value chain is a worldwide series of activities performed by a company, which aims at adding value to a product at every step during the production process.