A Tesla vehicle on display at the China International Supply Chain Expo in Beijing. (WANG JING/CHINA DAILY)
Multinational companies are showcasing the latest technologies and products at the maiden China International Supply Chain Expo to achieve greater market share, executives said, even as they forge deeper bonds with Chinese business partners in the key sector.
China's well-developed supply chain, technology and huge market potential will not only assist global companies in implementing innovation in the country, but also motivate them to exhibit additional products, technologies and services for high-end manufacturing, green economy and digital services through the first-ever such platform, they said.
The event, which opened on Tuesday in Beijing, will conclude on Saturday.
US electric carmaker Tesla Inc hopes to explore successful experiences in other industries at the CISCE and find more suppliers to accelerate the world's transition to sustainable energy, it said.
"As a participant and beneficiary of the integrated development of the global supply chain, we will leverage our strengths to contribute to the establishment of a globally secure, stable, efficient, and mutually beneficial production and supply chain system," said Tao Lin, Tesla's vice-president.
"At present, the localization rate of components in Tesla's gigafactory has exceeded 95 percent in Shanghai, with an automation rate of over 95 percent. It takes less than 40 seconds to produce one car," she said.
Tesla has signed contracts with over 400 local tier-one suppliers. Over 60 of these are part of the company's global supply chain system, Tao said.
With products being shipped to Europe and Asia-Pacific markets, the Shanghai plant serves as Tesla's global export hub.
The company's total global deliveries exceeded 1.31 million vehicles in 2022, with over 710,000 vehicles rolling out of its gigafactory in Shanghai.
Highlighting that China is the world's largest electric vehicle market, Tao said the country has always been a crucial market for Tesla.
The company's growth in China over the past decade cannot be separated from the country's policy support and favorable business environment. With unmatched advantages and vast prospects compared with other global markets, China is a "must-have" market for the US company, she added.
Jens Eskelund, chief representative for North Asia at Danish shipping and logistics service provider A.P. Moller-Maersk, also expressed a similar view.
"Global trade and supply chains have created jobs, value and opportunities on a vast scale, in particular over the past three decades. China is a great example of this trend," Eskelund said at the company's CISCE booth.
He said the grand event highlights the potential of international supply chains for bringing people together and creating prosperity for all, now and in the future.
The CISCE has attracted international exhibitors from 55 countries and regions. About 36 percent of these are US and European companies, including Amazon, ExxonMobil and Apple, according to the China Council for the Promotion of International Trade, the expo's organizer.
Saying that the CISCE injects stability in global trade, Eddy Chan, senior vice-president of the US-based FedEx Express and president of FedEx China, stressed that today's world is interconnected, especially in economy and trade.
"An integrated supply chain, through cross-border collaboration, is the key for businesses to tackle risks and achieve growth in the vast international market," Chan said.
By constantly optimizing its network and flights, expanding infrastructure and enhancing efficiency, FedEx will continue to connect China with the outside world through its global network, he added.