The COVID-19 pandemic has delivered a profound shock to the Global Value Chain. The geographic make-up of most GVCs has become regionalized and localized rather than globalized due to the outbreak. In order to strengthen the regional supply chain and value chain cooperation between China and ASEAN, especially in this post-COVID-19 era, to achieve economic recovery, this paper tries to sum up how the COVID pandemic impacts the global value chain, and then discuss the position of China and ASEAN countries in the global value chain by calculating the proportion of intermediate goods on global, regional, and country-level, using the newly available data; thus, shed light on the policy implication for the future cooperation of China and ASEAN to build a “regional” global value chain.