Abstract
AbstractDue to its abundant resources and favorable policies, the Yangtze River Delta has attracted large amounts of foreign direct investment (FDI) and brought its comparative advantages into full play, attaining the upgrade of technological process and products. However, it has not yet gained the functional upgrading, what’s even worse, this region has become locked in the low-end industries arranged by multinational enterprises. In view of this situation, the Yangtze River Delta should evolve from the undertaking of manufacturing abroad to the innovation and entrepreneurship of emerging industries so as to achieve regional sustainable development. This study analyzes the competitiveness of products and technology in the Yangtze River Delta, and then probes into the development stage in both emerging industries and traditional industries, pointing out that it is a strategic selection for this area to shift from undertaking manufacturing overseas to innovation and entrepreneurship of rising industries. Based on the research, the author studies the framework and approaches of this transfer in the Yangtze River Delta. Eventually, recommendations are put forward, including industrial application of new and high technology, supporting measures for emerging industries, mechanism of orderly exiting and obsoleting, industrial application of science and education resources. Besides, in order to accelerate the transformation and upgrading of the industrial structure in the Yangtze River Delta, corresponding security mechanisms are required, such as cultivating national value chain (NVC), promoting open innovation, strengthening interaction of industries, supporting entrepreneurship, introducing the latest technology and so on.KeywordsForeign direct investmentInnovation abilityValue chainsYangtze River Delta (YRD)
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