Value co-creation in Carbon Generalized System of Preferences for China

A consensus remains to be achieved concerning the values pursued by various participants during the implementation of Carbon Generalized System of Preferences (CGSP). In this study, an evolutionary model was established to explore the factors influencing strategies of value co-creation among government departments, businesses, and residents. Findings show that the domination of government departments can elicit responses from businesses and participation from residents. The incentives for businesses and residents provided by the government departments can stimulate their co-creation of value. Moderate incentives from businesses to residents can facilitate the involvement of businesses and residents in value co-creation. This study extends the application boundaries of value co-creation theory and provides theoretical foundations and policy implications for facilitating value co-creation among stakeholders within the CGSP.