High-tech industries and their upgrading along global value chains are the important parts of China's future industry development. The process of innovation promoting global value chains upgrading of high-tech industries is affected by four factors, namely, the innovation input, the innovation carrier, the innovation culture and the innovation market. If analyzed by the chemical reaction equation, the innovation input is considered as the reactant, the output is the resultant, the innovation carrier is the catalyst, the innovation culture is the equivalent to the reaction conditions, and the innovation market has the selection to the resultant. The final chosen innovation achievement can bring high-tech industries with product upgrading, process upgrading, function upgrading and value chain upgrading. Through the empirical test, it finds that the innovation input, the innovation market and the innovation culture have obvious effects on global value chains upgrading of high-tech industries, but the innovation carrier not.
From the perspective of the host country, this paper studies the impact of the construction of overseas economic and trade cooperation zones on the innovation level of countries along “the Belt and Road” based on the national level panel data of 42 countries from 2003 to 2019. The research finds that the construction of cooperation zones has significantly improved the innovation level of countries along “the Belt and Road”, and the national cooperation zones passing the assessment of the Ministry of Commerce have a stronger role in improving the innovation level of the host country. This conclusion is still valid after a variety of robustness tests. The conclusions of this study provide empirical evidence that the overseas economic and trade cooperation zone is a win-win “China” model, and has important reference significance for China to improve the function of the opening platform through the cooperation zone and promote the high-quality development of the “the Belt and Road”.
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