In the context of anti-globalization and the escalation of strategic game between China and the United States, the study of global value chain potential and enterprise innovation has important theoretical and practical value. This paper explores how the changes in position and participation in the global value chain network affect enterprise innovation. Taking data from 1995-2023 empirical research finds that: position in the global value chain network has a positive effect on knowledge dissemination and innovation; positive centrality is often positively correlated with enterprise innovation activities, which is particularly important for export enterprises; global value chain hub enterprises, especially key suppliers, benefit from knowledge spillover in the downstream market. The study confirms the importance of being the center of the global value chain network, and the decline of the manufacturing center reflects the deindustrialization and transition to the service industry. Based on the above conclusions, this paper puts forward policy suggestions to improve trade openness, expand the network of free trade agreements, improve export support services, and accelerate the pace of international opening up for scientific and technological innovation.