Reforms drive value chain development

As the structures of global value chains continue to change, China's opening-up is an important engine for deepening their development.

As emerging technologies such as mobile internet, artificial intelligence and additive manufacturing continue to be put into use, as well as the technological and innovative capabilities of emerging economies, the cost of participating in global value chains, especially for small and medium-sized companies, is rapidly declining. Against this background, the vertical specialization led by traditional large multinational corporations has not fully adapted to the new requirements of global economic cooperation. The new global value chains represented by collaborative innovation and, platform-based collaboration, and division of labor are rapidly developing. They will become an important supplement to the traditional value chains.

Actively integrating into global value chains is an important way for China to promote the development of the world economy and achieve its own development.