As the world economy became more integrated, the production processes were distributed across boundaries. Therefore, the governance of corporate production has also become more hybridized, intertwining with regulations from national or international public regimes, as well as standards from private firms. The value chain analysis team of the ESG center therefore focuses on three questions. First, how the concerns over environmental or labor issues were translated into regulations or standards in the framework of hybrid governance? Second, how has this hybrid governance reshaped the landscape of global industries? Third, how small or medium businesses, especially those from the developing countries, managed to navigate their ways in the changing contours of the global economic development.