Abstract: The dynamic evolution based on comparative advantages and the adjustment of production methods from a global perspective to promote economic development are the fundamental basis for China’s profound transformation of its opening-up strategy. With the profound changes in the domestic and international economic situation, China’s traditional labor cost advantage is no longer obvious. However, it has formed new comparative advantages over some southern countries in the fields of skilled labor, industrial system, and technology. This provides a practical basis for China to shift its focus from opening up to the outside world to“South-South cooperation”. From the perspective of Marxist political economy’s “mode of production”, the essence of a country’s adjustment of foreign economic relations is the adjustment of regional industrial relations. This article divides industrial types into eight categories based on the two dimensions: factor input density and factor combination method. Taking the six major regions in China that have carried out “South-South cooperation”as examples, it explores specific measures to adjust foreign economic relations based on regional industrial relations, providing a feasible path for further promoting high-level opening up to the outside world.

Key words: high-level opening up to the outside world, new comparative advantages, new development paradigm, South-South cooperation, global governance