Inclusive Global value chain (GVC) is China's new understanding and proposition of the rule and system of the global value chain in the new round of globalization. It is also the improvement of the rule and system of the current global value chain in economic globalization. It advocates cooperation and win-win, inclusiveness and acceptance, opening-up and development under GVC.It has the following obvious characteristics:First, it is a GVC that encourages Chinese enterprises to speed up upgrading to the middle and high-end of the industrial chain.Second, it is a GVC that encourages Chinese enterprises to promote " two-ends which are raw material and sales market being placed abroad, two-way opening-up".Third, it is a GVC that can rely on the emerging strong domestic market and attract advanced production factors in the world.To build an inclusive GVC, China needs to shift from opening-up in terms of commodity factors to opening-up in accordance with international rules, and shift from observing and adapting to international economic and trade rules to actively participating in and upholding the formulation and strict implementation of international economic and trade rules, so as to move the world economy toward a new pattern of more innovation and vitality.Building an inclusive GVC requires the active coordination and optimization of economic policiesFirst, we should vigorously reform the past income distribution system on the basis of technological progress and productivity improvement.Second, we should vigorously promote mergers and acquisitions and asset restructuring activities in the capital market on the basis of growing and huge domestic demand.Third, “the Belt and Road Initiative” should be built to establish headquarters economic base in important global city.Fourth, in addition to developing consumer driven GVC, we need to join the global innovation division system, that is, the global innovation chain, and develop producer driven GVC.The new and inclusive GVC will become a new space, a new bond and a new carrier for China's high-level and all-round opening-up. It will be the foundation for China's middle to high speed of economic growth and middle and high end of industrial development.
