The global supply chain is undergoing a profound transformation, where the forces of regionalization and globalization interact at different levels, forming a complex and diverse new pattern. In this pattern, the downstream of product supply chains tends to become more regionalized. To address challenges such as natural disasters, geopolitical risks, and sustainable development, businesses continually shorten physical distances to enhance flexibility and efficiency. However, the upstream of product supply chains remains globalized, as the supply of key raw materials is constrained by uneven resource distributions and technological limitations. Countries need to collaborate across borders and regions to ensure the stability and security of the supply chain. In this new landscape, China plays a crucial role, presenting vast opportunities while confronting serious challenges. Meanwhile, the development of finance, standards, and digital technologies is accelerating the globalization of intangible elements, bringing new dynamics and profound impacts to international trade and the global economy.