The China Supply Chain Summit was held in Fuzhou from May 18 to 19, to optimize the connectivity among resources, production, services and consumption and to further boost China's competitiveness in the global economy. 

Hosted by Fuzhou People's Government, the summit is one of the three parallel forums of the second 21st Century Maritime Silk Road Expo cum 21st Cross-Straits Fair for Economy and Trade (CFET), which is being held from May 18 to 22.

Modern supply chains are a way to organize manufacturing and integrate logistics, information flow, capital flow, value flow, and business flow. 

Lu Pengqi, vice chairman of China Council for the Promotion of International Trade, said that the cooperation and competition among global supply chains are increasingly shaping international relations.

"As the global supply chain system continues to expand, how to promote the integration and innovation of the supply chain with industrial chain and value chain, thus reshaping the competitiveness, has become a topic that governments, industries, and enterprises cannot ignore," Lu said.

In recent years, China has attached great importance to the development of the supply chain, emphasizing the need to promote supply chain innovation, foster new growth points in the modern supply chain among other fields, create new kinetic energy, and form a complete and efficient industrial supply chain. The realization of supply chain innovation and development is also an important starting point for deepening supply-side structural reforms and promoting high-quality economic development.

Zhou Hanmin, vice-chairman of the Chinese People's Political Consultative Conference (CPPCC) Shanghai Committee , gave four suggestions for China's development of the supply chain. He said the development of China's supply chain should stick to the four major national strategies and should be deeply integrated with the digital economy. In addition to that, a sound business environment must be provided, and China needs to keep abreast of the relevant changes in WTO.

Xu Shanda, an expert from the SEEC Research Institute, stressed the importance of upgrading technology based on his research on China's manufacturing industry in 1980, 2000, and 2018.

"China has the problem of manufacturing overcapacity. It is very important for companies to upgrade the technology of their products so that they can meet the needs of the future market. There are many institutional researches on how to better encourage and guide enterprises to upgrade their technology in the right direction."

He offered an example of Fuyao Glass Industry Group Co, Ltd, a Fuzhou-based multinational company specializing in the manufacture of automobile safety glass and industrial technical glass. The company has successfully moved up in the supply chain by upgrading its technology. The company has developed a new type of front windshield for Audi A8, which doesn't freeze. Though the output hasn't changed much, the significant price increase is due to the increased technological content.

During the summit, a signing ceremony for the Straits Supply Chain Techfin Research Center and a launch ceremony for the 1233 International Supply Chain Management Platform Project were also held.

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