Abstract: Against the backdrop of persistent turbulence in the global economic and trade environment and the escalating trend of trade protectionism, trade restrictive policies have emerged as a significant exogenous shock factor affecting the stable operation of global value chains. This paper constructs a global value chain network distinguishing between domestic and foreign-invested enterprises based on OECD-AMNE input-output data. Utilising the GTA Global Trade Alert database to quantify the intensity and scope of trade restrictive measures, it systematically assesses the impact of such policies on the resilience of global value chain networks from a multidimensional perspective of heterogeneity across countries, industries, and domestic versus foreign-invested enterprises. The study finds that: (1) Trade restrictive policies exert a significant dampening effect on the resilience of both domestic and foreign-invested enterprises within global value chain networks. (2) Trade restrictive policies produce heterogeneous impacts on the resilience of domestic and foreign-invested enterprises within global value chain networks, depending on the development level of their home countries or economies, their sectoral affiliation, and the specific type of trade restrictive policy imposed. (3) Trade restrictive policies exert negative impacts on the resilience of both domestic and foreign-invested enterprises within global value chain networks through channels including increased intermediate goods trade costs, suppression of technological spillover effects, and reduced participation in global value chains. (4) Trade restrictive policies exert negative impacts on the network resilience of both domestic and foreign-invested enterprises participating in complex value chain activities, while only adversely affecting the network resilience of foreign-invested enterprises engaged in simple value chain activities. The findings of this study have important practical significance for maintaining a stable global economic and trade pattern and building resilient industrial and supply chains.

Key words: trade restrictive policies, global value chains, network resilience, domestic and foreign-invested enterprises