China's economy is moving from the stage of leveraging the late-mover advantagesto a new historical stage in which the first-mover advantages and the late-mover advantages are both taken into account with the first-mover advantages being more fully utilized. Under this strategy, the salient features of the economic development mode include: mastering the existing advanced technologies of developed countries as soon as possible, vigorously absorbing FDI from developed countries, using low-cost advantages to participate in international intra product division of labor, and catching up with the goal through the quantitative decomposition of GDP.In the future, the focus of global trade and investment rules will undergo tremendous changes. Adapting to and grasping the changes is the prerequisite and basis for enhancing China’s status and institutional discourse in global governance. It requires us to use our own domestic demand to support innovation and upgrading activities, so as to establish a global value chain led by ourselves.From an industrial perspective, China’s implementation of the innovation-driven development strategy requires China’s developed regions to concentrate resources and focus on the development of strategic emerging industries that represent national competitiveness and discourse power. Only by requiring China’s enterprises to change their technology dependence strategy, establish their own technical standards and lead them through large and intensive R&D investment, can we gain international competitive advantages in the core industry links.
