BEIJING, June 23 (Xinhua) -- This year's China International Supply Chain Expo opened on Monday at a time of resurging protectionism, deepening geopolitical rivalries, and increasingly fragmented global industrial and supply chains.
China, by hosting the world's first national-level expo focused on supply chains for the fourth consecutive year, is demonstrating its steadfast commitment to bolstering supply chain resilience and upholding the multilateral trading system through concrete actions.
The growing number of foreign companies attending the expo suggests that, despite mounting geopolitical tensions, businesses remain eager to forge new partnerships, explore fresh opportunities and strengthen the resilience of global supply chains.
Since the start of this year, geopolitical conflicts have further disrupted supply chains across multiple sectors, including logistics and transportation, energy and chemicals, industrial raw materials, agriculture and industrial investment. The resulting increases in costs, delivery delays and localized supply disruptions have added new pressures to an already fragile global economy.
Recent reports from international organizations, including the United Nations and the Organization for Economic Cooperation and Development, have lowered forecasts for global economic growth this year, warning that geopolitical tensions are further weakening momentum.
As the vulnerabilities of global supply chains become increasingly evident, there is a growing call for cooperation to preserve the global division of labor and keep global supply chains stable, open and efficient.
This year's expo has attracted 676 companies and institutions from 85 countries, regions and international organizations, providing an efficient platform that connects companies of all sizes from upstream to downstream segments of global industries.
By helping participants identify complementary strengths and establish new partnerships, the expo mitigates the disruptions caused by geopolitical conflicts, encourages deeper participation in global value chains and production networks, and enhances the efficiency of global supply chains.
Recently, China's importance as a central hub in global manufacturing and supply networks has grown significantly. Many multinational corporations have leveraged China's market, technological capabilities and expanding institutional openness to achieve global success.
Supported by complete supply-chain ecosystems, a vast domestic market, efficient supply-chain services, extensive trade networks and a highly skilled workforce, China continues to attract global industries and innovation resources. In doing so, China has become an anchor of stability for global supply chains and a source of certainty for the world economy.
China is also helping drive an industrial transformation through digital and green technologies, leading the transition of global value chains toward lower-carbon and more intelligent development. At the same time, it is supporting developing countries in integrating into higher-value segments of global industry, contributing to more balanced, coordinated and inclusive growth.
As Dominic Trindade, Austrade's general manager for the Chinese mainland, Hong Kong and Taiwan, has noted, this expo connects businesses across entire value chains and fosters cooperation in areas ranging from clean energy and infrastructure to advanced services -- collaboration that is critical to strengthening global supply chain resilience.
The deep integration and interdependence of nations are the natural result of economic globalization and market forces.
All countries worldwide share an interest in preserving an open and cooperative international environment, strengthening industrial collaboration, and fostering more inclusive and resilient supply chains. Doing so will bring greater certainty and renewed momentum to global economic growth. Enditem
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