统计研究

随着资本跨境流动的加速，外资企业与我国内资企业的产业网络交织日趋复杂。然而，传统的全球价值链核算框架更关注跨国贸易往来，往往忽视跨境资本流动，难以准确反映内外资企业在国内市场的生产贸易活动。基于此，本文运用能够同时识别跨国贸易往来与资本流动的全球价值链核算框架，从分工比较到协作互动的双重视角，对我国内外资企业参与全球价值链的差异化特征进行测算分解，并从产业数字化角度探讨背后的驱动因素及影响机制。研究发现：基于分工比较视角，外资企业参与全球价值链呈现出较明显的本地偏好特征，但近年来内资企业在此方面的增长态势更为强劲，传统核算框架对两类企业全球价值链活动规模均有一定程度的低估；基于协作互动视角，我国内外资企业在全球价值链中的协作关系具有非对称的矢量性特征；基于上述两个研究视角，产业数字化均可通过劳动力本土化和全球价值链嵌入等机制，显著影响内外资企业在全球价值链中的差异化表现。该研究结果为平衡我国内外资企业协调发展，畅通国内、国际贸易与资本循环提供了理论依据。

With the acceleration of cross-border capital flows, the industrial networks of foreign-funded enterprises intertwined with domestic enterprises are becoming increasingly complex. However, the traditional global value chain accounting framework focuses more on cross-border trade exchanges and often ignores cross-border capital flows, making it difficult to accurately reflect the production and trade activities of domestic and foreign-funded enterprises in the domestic market. Based on this, this paper employs the global value chain accounting framework that can simultaneously identify cross-border trade and capital flows. This study quantifies and decomposes the heterogeneous features of Chinese and foreign-invested firms' participation in global value chains by integrating a comparative division-of-labor perspective with an analysis of collaborative interactions, and further examines the underlying drivers and mechanisms from the standpoint of industrial digitalization. The study found that, based on the perspective of division of labor comparison, foreign-funded enterprises' participation in the global value chain shows a more obvious local preference feature, but in recent years, domestic enterprises have shown a stronger growth trend in this regard. Based on the perspective of collaborative interaction, the collaborative relationship between Chinese and foreign-invested enterprises in the global value chain has asymmetric vector characteristics. Based on the above two research perspectives, industrial digitalization can significantly affect the differentiated performance of the two types of enterprises in the global value chain through mechanisms, such as labor localization and global value chain embedding. The research findings provide a theoretical basis for balancing the coordinated development of domestic and foreign-funded enterprises and unblocking domestic and international trade and capital circulation.