Reporters speak on camera during the 2nd China International Supply Chain Expo, which kicked off on November 26 in Beijing. Photo: Chen Tao/GT

As more than 1,300 participants from more than 100 countries and regions as well as international organizations attended the opening ceremony of the second China International Supply Chain Exhibition (CISCE), which kicked off Tuesday in Beijing, Chinese Vice President Han Zheng called for promoting win-win. cooperation, optimization and upgrading as well as the green transition of global industrial and supply chains.

China will follow the right path of economic globalization and strengthen trade and industrial capacity cooperation with other countries for positive interaction between industries and shared benefits, Han said, according to Xinhua News Agency.

At the opening ceremony on Tuesday, a Beijing initiative for stable and smooth global industrial and supply chains was unveiled.

On Monday, Chinese Premier Li Qiang, while participating in a symposium with representatives of companies and organizations participating in the second CISCE, said China will continue to take concrete measures ensure stable and unimpeded global industrial and supply chains.

Join hands, no arm wrestling

Government officials and representatives of the global business community and institutions from more than 100 countries and regions attending the second CISCE opening ceremony on Tuesday took the stage to express support for globalization and voiced concerns regarding decoupling and attempts to undermine global industry and industry. cooperation in the supply chain.

Observers noted that the global economic scene should be one where partners seek common growth and a shared future by joining hands, rather than engaging in a standoff. They urged governments around the world to work to ensure the smooth running of the global industrial and supply chain.

Chinese analysts said that in the face of slow global economic recovery, collaboration and pursuit of win-win benefits are the only path to ensure the prosperity of global trade, which is the foundation of the well-being of the world’s people.

Anti-globalization and fragmentation of the global supply chain will only add costs and lead to losses, they noted.

“In Europe, a great meeting between the economies of the East and the West has been created in Hungary. If you want to see large German factories and large Chinese factories built on neighboring plots, next to each other , come to Hungary Our economic development strategy “Neutrality will make 2025 a fantastic year for the Hungarian economy thanks to the strengthened cooperation between China and Hungary,” said Hungarian Minister of Foreign Affairs and Trade Peter. Szijjarto in his speech at the opening ceremony of the second CISCE.

“Hungary is honored to be the country in the spotlight here,” Szijjarto said. “We will get the most out of our presence here.”

Facing an increasingly complex global economic landscape and growing protectionist headwinds, guests, including global business leaders and senior executives, outlined the benefits of connectivity, as well as the cost of fragmentation .

“One tree does not make a forest, and one string does not make music. We can accomplish more when we work together, and the greater the challenge, the more essential cooperation becomes,” said Dominic Barton, President. from Rio Tinto. during his speech at the opening ceremony.

“It is important that we speak up and come out of the shadows to defend and promote supply chain coordination and free trade. This is essential to the prosperity of all of us,” Barton said.

As estimated by the World Bank, a 1 percent increase in international supply chain participation is associated with a more than 1 percent increase in per capita income, showing the direct link between trade and prosperity , declared the president of the mining giant.

Another example, according to Barton, is that in a scenario where countries block Chinese-made clean energy products, such as solar panels, wind turbines and lithium batteries, Wood Mackenzie estimated that the Global costs of the energy transition would increase by 20 percent, or at least the equivalent of $6 trillion.

Confidence booster

Supported by the country’s recent series of progressive policies aimed at injecting vitality into the growth momentum, the confidence of the global business community is increasing.

On Monday, Premier Li Qiang said China has achieved generally stable economic growth and made further progress this year, saying more efforts will be made to accelerate counter-cyclical adjustment and promote healthy economic development.

“At CP Group, we are very confident in China’s economy. The package (of progressive policies) is comprehensive and thoughtful. As entrepreneurs, we are encouraged. The overseas Chinese business community is also encouraged ” said Dhanin Chearavanont, Chairman of the Thai Board of Directors. Charoen Pokphand Group and nicknamed “001 foreign investor in China (among the first foreign investors when China launched reform and opening up),” told the Global Times on the sidelines of the event.

Compared to the first edition of the exhibition held in 2023, this year’s event saw an increasing participation of global and domestic companies, many of which are giants in their sector.

Ren Hongbin, chairman of the China Council for the Promotion of International Trade, said the world is witnessing the CISCE, the first and only of its kind dedicated to supply chain cooperation, with growing recognition in China and across the world. the world.

“A platform to foster unity and strengthen collaboration is what the world sorely needs at this time of rising anti-globalization, unilateralism and protectionism,” Ren said.

Huo Jianguo, vice president of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Tuesday that the world’s second-largest economy is consolidating its growth momentum through improved quality and constant efforts to optimize its commercial environment. The attractiveness of the Chinese market and Chinese supply chain will become stronger and more multinational companies will bet on China, Huo noted.