Beijing hosts the first supply chain expo in the world.
The China International Supply Chain Exhibit (CISCE) and Global Supply Chain Innovation and Development Forum, the first national-level supply chain exhibit in the world, began in Beijing on Tuesday amidst sluggish global economic growth.
Beijing hosts the first supply chain expo in the world. A global public good shared by all, the expo is a new open platform designed to strengthen exchanges and cooperation in industrial and supply chains among members of the international business community, according to Ren Hongbin, president of the China Council for the Promotion of International Trade (CCPIT), during the opening ceremony.
Ren further stated that the occasion will transpire annually and expressed his expectation that individuals, both domestically and internationally, will fully exploit the platform to attain fruitful outcomes.
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World Trade Organization (WTO) director-general Ngozi Okonjo-Iweala, who delivered a speech via video link, stated that some of the supply chain disruptions have revealed the vulnerability of global production networks.
The WTO official further stated that internationalization in global supply chains and trade should be strengthened so that every link can contribute.
Indonesia welcomes the inaugural CISCE, according to President Joko Widodo, who also expressed optimism that the exhibition will aid in developing a resilient supply chain system.
The CISCE’s principal offerings
Under the theme “Connecting the World for a Shared Future,” the five-day event will introduce innovative products, services, and technologies for global supply chains’ upstream, midstream, and downstream sectors.
A supply chain services exhibition area accompanied the five supply chains (smart vehicles, green agriculture, renewable energy, digital technology, and healthy living) at the inaugural expo, attended by 515 Chinese and international institutions and businesses.
Around twenty percent of the exhibitors are American firms, while international companies comprise the remaining twenty-six percent.
Zhang Shaogang, vice chairman of CCPIT, stated that the expo will feature vertical displays of cutting-edge technologies, products, and forthcoming trends in each link of the supply chain and horizontal displays of various services offered by platform enterprises and in the finance and logistics sectors.
Zhang further stated that 57 China’s top 500 companies and 53 Global 500 companies attended the exhibition.
Initiative of Beijing
During the inauguration, an endeavor known as the Beijing Initiative on Global Industrial and Supply Chain Connectivity was introduced.
According to the initiative, ensuring the stability and resilience of global supply chains and industries is crucial for advancing global economic development and serving people’s common interests everywhere.
It encourages promoting technological innovation, adherence to market principles, global cooperation and division of labor, and collaboration in ecological and digital economies. Furthermore, it urges the international business community to integrate into global supply, value, and industrial chains and to prioritize common interests.
Effects of action
Tuesday afternoon, the CCPIT published the Global Supply Chain Promotion Report, an analysis of trends in the development of global supply chains.
It emphasized China’s role in fostering the integrity of global supply chains, as the country’s ultra-large market, comprehensive industry categories, opening-up policies, and innovation prowess afford opportunities for global supply chain cooperation.
Infrastructure interconnectivity, multilateral and bilateral trade regulations, policies that promote supply chain development, technological advancements, and financial safeguards are all covered in the report.
