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The Impact of Global Value Chain Restructuring on the OFDI Transformation of Manufacturing Industry: Evidence from China

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  • Chenggang Wang

    (School of Economics and Business Administration, Heilongjiang University, Harbin 150001, China
    School of Economics and Management, Harbin Engineering University, Harbin 150006, China
    Heilongjiang Revitalization Development Research Center, Heilongjiang University, Harbin 150001, China)

  • Fan Xu

    (School of Economics and Business Administration, Heilongjiang University, Harbin 150001, China)

  • Chang Lu

    (School of Economics and Business Administration, Heilongjiang University, Harbin 150001, China)

  • Tiansen Liu

    (School of Economics and Management, Harbin Engineering University, Harbin 150006, China)

Abstract

Global value chain (GVC) restructuring has important implications for the transformation of corporate outward foreign direct investment (OFDI), a process that is closely linked to sustainable economic development. Based on panel data from 2007 to 2021, this paper comprehensively applies the fixed effects model, mediation effects analysis, heterogeneity test, and regression analysis to explore how global value chain restructuring promotes the sustainable transformation of corporate OFDI, and it examines the role mechanisms of factor endowment and market scale expansion in the process. The conclusions are as follows: (1) Global value chain restructuring can promote manufacturing enterprises’ OFDI transformation. (2) Global value chain restructuring promotes the transformation of manufacturing OFDI through two channels: factor endowments and market scale. (3) Against countries’ different backgrounds, there are significant differences in the impacts of global value chain restructuring on enterprises’ OFDI. The research results of this paper can provide important insights for relevant government departments and enterprises in formulating management policies.

Suggested Citation

  • Chenggang Wang & Fan Xu & Chang Lu & Tiansen Liu, 2025. "The Impact of Global Value Chain Restructuring on the OFDI Transformation of Manufacturing Industry: Evidence from China," Sustainability, MDPI, vol. 17(12), pages 1-24, June.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:12:p:5448-:d:1678095
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