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Stable industry and supply chains key to global economic recovery

China Daily | Updated: 2023-12-01 07:43
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The opening ceremony of the first China International Supply Chain Expo is held in Beijing, Nov 28, 2023. [Photo by Wang Zhuangfei/]

The first China International Supply Chain Expo is aimed at promoting smoother links, collaboration and interaction between upper, middle and downstream industries, and between Chinese and foreign enterprises.

The five-day event that opened in Beijing on Tuesday has brought together 515 enterprises and institutions from 55 countries and regions.

In recent years, top leaders have repeatedly stressed the need for China to deepen international cooperation in industry and supply chains with concrete actions. Against the backdrop of the global economy facing many risks and challenges, the hosting of the CISCE is of great significance.

Its significance is not limited to "display", but its aim to build consensus through common participation, reaffirm the importance of the industry chain, and promote greater efforts to maintain the stability and security of global industry and supply chains.

Stable industry and supply chains promote the stability of the global economy. The collaboration of industry and supply chains is inevitable for economic globalization. Different regions have different advantages in resources, markets, manpower, capital and other areas. These help global collaboration by providing the lowest cost and highest efficiency. This means all countries should unequivocally oppose protectionism and all forms of "decoupling" and the de-linking of various industry and supply chains.

It is worth mentioning that at the CISCE, enterprises from the United States account for 20 percent of the total exhibitors, and many US companies take the event as the venue for the first launch of their products.

China has always had a clear attitude and taken solid actions to upgrade and expand its industry and supply chains. In October 2022, the Chinese authorities designated 12 cities as the first batch of cities to launch the pilot construction of the industry and supply chain ecosystem, to promote iterative upgrading of regional industry and supply chain ecosystems through mechanism innovation, policy support and other means.

As the world's second-largest economy, China is an important support for global manufacturing and trade and a stabilizer of the global supply chains. At a time when globalization is deepening and the international division of labor is highly refined, no country or enterprise can be isolated from the outside world and global industry and supply chains.


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