An important aspect in the study of international division of labor, the global value chain has emerged as one of the essential mechanisms of open development in China's economy during the past two decades, gradually becoming a buzzword in economics and economic circles in recent years.Given the China-US trade conflict that broke out in 2018, the US crackdown on ZTE's and Huawei's supply chains, and the impact of the COVID-19 pandemic on global supply chains in 2020, China's ascent to the medium-high end of the global value chain has become an urgent development task.Simultaneously,reconstructing the global value chain with China as the main component has become a critical issue for theoretical and practical departments again.A new perspective is needed in the research on the global value chain to raise the status of this topic in economic development theory and policy.