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China’s Leverage of Industrial Policy to Absorb Global Value Chains in Emerging Industries

In: Economic and Social Upgrading in Global Value Chains

Author

Listed:
  • Anna Holzmann

    (Mercator Institute for China Studies (MERICS))

  • Max J. Zenglein

    (Mercator Institute for China Studies (MERICS))

Abstract

This chapter elaborates on the leverage of industrial policy in the People’s Republic of China (PRC or simply China) to boost economic development in special consideration of global value chains (GVCs) and emerging industries. Industrial policy is an essential component of China’s state capitalist economic system, and it is one of the main drivers for both China’s economic growth and industrial transformation that kick-started in the 1980s. China’s leadership has shown that it is capable of effectively employing means of industrial policy, ranging from artificially created demand to subsidies, to quickly develop and foster newly emerging industries. Drawing on the experience of China’s solar panel industry, this chapter explores the patterns of Beijing’s use of tech-focused industrial policy to spur economic upgrading with the example of an emerging industry that is of critical importance to the European economy: new energy vehicle (NEV) batteries.

Suggested Citation

  • Anna Holzmann & Max J. Zenglein, 2022. "China’s Leverage of Industrial Policy to Absorb Global Value Chains in Emerging Industries," Springer Books, in: Christina Teipen & Petra Dünhaupt & Hansjörg Herr & Fabian Mehl (ed.), Economic and Social Upgrading in Global Value Chains, chapter 0, pages 413-436, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-87320-2_16
    DOI: 10.1007/978-3-030-87320-2_16
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