This paper empirically analyzes China's electrical equipment manufacturing industry in the context of global value chain (GVC) by using the GVC income approach and the World Input-Output Database (WIOD). Four major questions are addressed by measuring several different indicators. China is found to have comparative advantage and competitiveness in terms of its large share of value added contribution in the world electrical equipment manufacturing industry. However, such competitiveness is not sustainable. The paper also finds that the global financial crisis did have certain impact on the electrical equipment GVCs in general, but the impact is not necessarily negative and big.