减税降费与制造业企业全球价值链嵌入度：基于新质生产力视角

Abstract

The “low-end lock-in” predicament of China's manufacturing industry is essentially a specific manifestation of the contradiction between productivity and production relations in the global value chain. Based on the data of manufacturing listed companies in Shanghai and Shenzhen A-shares from 2004 to 2016 and the customs import and export data starting from the dialectical principle of “productivity-production relations” this paper examines the impact of tax reduction and fee reduction policies on the degree of global value chain embedding. The research finds that tax reduction and fee reduction significantly enhance the global value chain embedding degree of manufacturing enterprises and this effect is mainly achieved through four mechanisms upgrading of laborers iteration of labor materials innovation of labor objects and creation of matching of production factors. Further analysis indicates that the promoting effect of tax cuts and fee reductions on the degree of integration into the global value chain shows more significant differences at the micro level of production relations with higher quality of enterprise internal control and a higher proportion of patient capital and at the macro level with greater local fiscal pressure and higher tax compliance. Under the new development pattern this study provides theoretical basis and policy references for optimizing tax reduction and fee reduction policies and promoting the construction of modern industrial systems.