To turn supply chains into chains of win-win cooperation

The recently-concluded first China International Supply Chain Expo (CISCE) achieved fruitful results. While holding more than 360 matchmaking and exchange activities, it was joined by over 15,000 participants and has delivered 23 research reports, declarations, and standards.

According to incomplete statistics, more than 200 cooperation agreements and intended deals were signed at the event, involving a total amount of over 150 billion yuan ($21.19 billion).

Photo taken on Nov. 29, 2023 shows a floral decoration outside the venue of the first China International Supply Chain Expo held in Beijing. (People's Daily Online/Chen Xiaogen)

As another global public good initiated by China, the CISCE has sent a strong message that China is taking concrete actions to maintain the stability and smooth operation of industrial and supply chains. It showcased China's determination and confidence in continuously promoting high-level opening-up.

The first CISCE was a globally significant event characterized by high standards, quality, and level. It aimed to turn supply chains into chains of win-win international cooperation.

Many exhibitors took the expo as a platform to launch their products. A total of 62 representative new products, technologies, and services made their debut at the event.

The CISCE provided an important opportunity for developing countries to showcase their advantages in industrial and supply chains, as well as a platform for these countries' enterprises to integrate into the global industrial and supply chains.

At the expo, China released the Global Supply Chain Promotion Report and launched the Beijing Initiative for the Connectivity of Industrial and Supply Chains, contributing Chinese wisdom and solutions to maintaining the stability and smooth operation of global industrial and supply chains.

International observers widely recognize the groundbreaking significance of the first CISCE, saying it has sent a signal that China will participate more deeply in the construction of a global system of industrial and supply chains.

A charging robot is exhibited at the first China International Supply Chain Expo held in Beijing, Nov. 29, 2023. (People's Daily Online/Chen Xiaogen)

The CISCE integrates trade promotion, investment cooperation, innovation aggregation, and mutual learning. It aims to build an open international cooperation platform that connects upstream, midstream, and downstream industries, facilitates communication between large, medium, and small-sized enterprises, promotes collaboration among universities, enterprises and research institutions, and encourages interaction between Chinese and foreign companies. This event vividly showcases China's continuous efforts in advancing high-level opening-up.

During the event, many exhibitors said that China's industrial and supply chain foundations are solid, providing multinational companies with strong confidence in further development in China.

As a major trading partner of over 140 countries and regions, China remains committed to reform and opening-up, providing the world with market opportunities, cooperation opportunities, policy opportunities, and innovation opportunities.

In the first three quarters of this year, China's GDP grew by 5.2 percent year-on-year, ranking among the highest among major economies in the world. Recently, several international organizations and financial institutions have raised their growth forecasts for China's economy this year.

Against the backdrop of a difficult global economic recovery, China's economy has maintained a stable and positive momentum, further strengthening the confidence of all parties that "investing in China is investing in the future," and making deep involvement in the Chinese market a prevailing consensus in the international community.

Both history and reality have proven that the whole world will benefit when cooperation on global industrial and supply chains remains stable and continues to deepen, otherwise the globe will generally bear losses when cooperation on the chains is hindered and stagnates.

A model displaying hydrogen production is exhibited at the first China International Supply Chain Expo held in Beijing, Nov. 29, 2023. (People's Daily Online/Chen Xiaogen)

As Rebeca Grynspan, secretary-general of the United Nations Conference on Trade and Development, pointed out, the world needs to work together, support multilateralism and dialogue, rather than engaging in unilateral actions. China firmly opposes protectionism and various forms of "decoupling and supply chain disruption," and promotes trade and investment liberalization and facilitation, with an aim to establish a set of global economic and trade rules that is fair, reasonable and transparent.

The hosting of the CISCE reflected the urgent desire of the global business community to maintain the stability and smooth operation of industrial and supply chains. It also demonstrated China's commitment to playing a leading role in this regard.

African Union Permanent Representative to China, Rahamtalla Osman Elnor, said China champions multilateralism. The participation of numerous Chinese and foreign companies and institutions in the first CISCE showed that everyone recognizes the importance of solidarity and cooperation. "We must believe in multilateralism," he noted.

Linky, the mascot of the CISCE, symbolizes the connections in the supply chain. Its triangle-shaped body stands for the stability and security of industrial and supply chains.

The CISCE is an event for China and for the world. China is willing to work together with all parties to leverage this platform to make global industrial and supply chains more resilient, efficient, and dynamic, and make greater contributions to promoting global economic recovery and development.