其他摘要：Manufacturing industry is the leading industry in China’s national economy. The participation of global value chain (GVC) in China’s manufacturing industry is very high, whereas its GVC status is very low. The inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) are the main ways for China’s manufacturing industry to integrate into the global value chain. Previous studies mainly focused on the upgrading of GVC in China’s manufacturing industry from the perspective of single IFDI or single OFDI. This paper takes the perspective of “Two-Way FDI” as the starting point. Using the panel data of China’s manufacturing sub-industries, this paper analyzes the mechanism of IFDI, OFDI and two-way FDI influencing GVC. The Fixed Effect Model is established to analyze the impact of IFDI, OFDI and two-way FDI on GVC upgrading of China’s manufacturing industry.
