Abstract: Since China’s accession to the WTO,its economy has rapidly integrated into the global industrial chain,its industry has been constantly upgraded,and its status as the “world factory” has gradually taken shape.Many argue that rising labor costs and the need for industrial upgrading may lead China to begin a large-scale industrial shift to other emerging economies.This paper makes a comprehensive review of China’s industrial transfer and upgrading from 2000 to 2022 based on multi-dimensional data such as labor wages,international and domestic regional trade flows,global tariff levels,and invention patent authorization.The conclusions of this paper show that:(1)The increase of labor cost does not constitute the main factor to promote the transfer of China’s labor-intensive industries,and there is no country in the world that can absorb China’s industrial transfer on a large scale.(2)The external cause of the resilience of China’s labor-intensive industries is the relative stagnation of globalization process since the financial crisis,and the internal cause is the internal industrial transfer caused by the reallocation of resources based on comparative advantages in China’s inland areas;(3)China has developed rapidly in technology-intensive industries and the technological progress and application behind them,but there are problems such as regional development differences and excessive dependence on external demand and industrial policies.This paper argues that continuing to expand opening up and making good use of industrial policies to balance the transformation of industrial structure between regions and cope with external demand shocks are important reference factors for China’s future trade policy and industrial planning.