Wednesday, February 28th, 2024

To jointly maintain stability, and smooth operation of global industrial, supply chains



By He Yin, The first China International Supply Chain Expo (CISCE) kicked off in Beijing on Nov. 28.

As the world’s first national-level exhibition themed on supply chains, the event aims to promote international cooperation on industrial and supply chains, as well as advancing green and low-carbon development and digital transformation. The CISCE will contribute to the healthy development of economic globalization.

The world today is experiencing accelerating changes unseen in a century. Economic globalization is facing countercurrents, and global industrial and supply chains have been impacted.

Chinese President Xi Jinping places high importance on ensuring stable and unimpeded global industrial and supply chains. With a deep insight into the industrial development trend both at home and abroad, he stressed the importance of supporting the WTO-centered multilateral trading regime, ensuring the security and stability of the global industrial and supply chains, and making the “pie” of cooperation bigger to allow development gains to better trickle down to people of all countries.

He also said that maintaining the resilience and stability of the global industrial and supply chains is a vital guarantee for promoting the development of the world economy and serves the common interests of people globally.

His remarks have charted the course for maintaining the stability and smooth operation of industrial and supply chains, injecting strong momentum for forging a more equal, inclusive, and constructive industrial and supply chain partnership.

China boasts the most industrial categories listed in the United Nations industrial classification. It has maintained its position as the world’s largest manufacturing hub for 13 straight years, accounting for nearly 30 percent of the global manufacturing output. Its status as a vital global manufacturing and supply chain hub is increasingly prominent.

The first CISCE marks a new communication and cooperation platform established by China to promote stable and smooth global industrial and supply chains. With a total exhibition area of 100,000 square meters, it includes five sections of chains and supply chain services, including smart vehicle, green agriculture, clean energy, digital technology, and healthy life.

Over 500 Chinese and foreign enterprises and institutions participate in the expo to showcase their new technologies, products and services in the key sectors of each industrial chain. The CISCE is expected to facilitate the global industrial division of labor, resource allocation, innovation cooperation, and sharing of achievements.

In response to the urgent demand of the international business community to maintain a stable and smooth industrial and supply chain, the CISCE is committed to promoting open cooperation and mutual benefit.

At the first CISCE, 26 percent of exhibitors joining the event are from over 50 countries and regions outside China. In particular, 36 percent of them are American and European companies.

The event includes the opening ceremony of the CISCE and the Global Supply Chain Innovation and Development Forum, six themed forums and side events.

A report on global supply chain promotion and other outcomes were launched, which will help facilitate cooperation between Chinese and foreign companies in different sectors of industrial and supply chains to seize market opportunities, investment opportunities, and growth opportunities.

The CISCE will serve as an important platform for showcasing the industrial and supply chain advantages of Belt and Road countries, and facilitating their integration into the global industrial and supply chains.

Over the past decade since the Belt and Road Initiative (BRI) was proposed, China has engaged in a series of industrial investment and cooperation projects with other Belt and Road countries, covering various sectors such as agriculture, energy, infrastructure, digital economy, and new energy vehicles. These efforts have effectively promoted the upgrading of industries and optimization of supply chains in these countries, providing significant support for the operation of global industrial and supply chains.

At the first CISCE, nearly half of overseas exhibitors are from Belt and Road countries. As the host of this event, China has also provided assistance to some underdeveloped countries joining the expo, encouraging them to showcase their featured and high-quality products and services, and better integrate into the global value chain to share the achievements of global economic development.

China is both a beneficiary and a defender of global supply chain integration. It is also an active explorer and promoter in building a new global supply chain ecosystem.

The country will unswervingly ensure that the industrial and supply chains are public goods in nature, actively participate in global economic governance, and contribute its wisdom and strength to the development of global industrial and supply chains.

China has repeatedly expressed its stance on strengthening global industrial and supply chain cooperation at multilateral platforms such as the Asia-Pacific Economic Cooperation, the Group of 20, and the Shanghai Cooperation Organization (SCO).

In 2022, as the rotating chair of the BRICS, China has promoted an initiative to enhance supply chain cooperation among BRICS countries.

It has also promoted the release of a statement on protecting security, stability and diversification of supply chains, reaffirming its willingness to safeguard the security and stability of international supply chains.

Furthermore, China has hosted the International Forum on Resilient and Stable Industrial and Supply Chains and jointly launched the Initiative of International Cooperation on Resilient and Stable Industrial and Supply Chains with partner countries, including Indonesia, sending a strong message to the international community to deepen global industrial and supply chain cooperation.

It has been proven that “building walls and barriers” and forcefully “decoupling and severing industrial and supply chains” will gain little support. The common aspiration is to jointly build a global industrial and supply chain system that is secure, stable, smooth, efficient, open, inclusive, and mutually beneficial.

The theme of the first CISCE, “Connecting the World for a Shared Future,” mirrors the common aspiration of the international community.

China will work hand in hand with all parties to jointly maintain the stability and smooth operation of global industrial and supply chains, and jointly promote economic globalization, to bring the fruits of win-win cooperation to the world.

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