China will hold the first China International Supply Chain Expo in Beijing from November 28 to December 2, the world's first supply chain-themed national exhibition, with the aim of providing an international platform for advancing orderly and efficient industrial synergy across countries. About 100 enterprises have signed up for the event to date, with confirmed U.S. companies forming the largest group among foreign multinationals, Chinese officials said on Friday.
The expo is being held at a time when the global supply chain is undergoing a critical stage of restructuring in post-virus era yet the process is being obstructed by certain Western countries' "de-risking" calls with China, a novel word that has moved from obscurity to ubiquity in recent months but it's nothing more than a continued attempt to isolate China.
Officials and observers said the platform underscores China's sincerity and readiness to stabilize and build up a resilient global supply chain, while continuing to push for greater opening-up that shares its business opportunities with the world - which offers a stark contrast to U.S.' ill-intended moves that also are in divergence with its business community's eagerness to deepen economic ties with China.
The expo is themed "connecting the world for a shared future," and will feature five major supply chains including smart vehicles, green agriculture, clean energy, digital technology and healthy life, Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT) - organizer of the expo, said at a press briefing of the State Council Information Office on Friday.
The total expo area will top over 100,000 square meters, and is expected to attract over 300 companies to participate, with international exhibitors representing 30 percent of the total, Ren said.
As for professional purchasing agents and audience, the number is estimated to surpass 100,000, with international buyers from over 50 countries and regions accounting for 40 percent of the number.
Lin Shunjie, chairman of China International Exhibition Center Group, said at the expo's roadshow on Thursday night that among the foreign companies that have signed up for the event, U.S. companies are the largest in number, according to a statement CCPIT sent to the Global Times on Friday.
"The U.S. companies I talk with are very pragmatic, and look to seize this rare opportunity. Many U.S. firms said that they need to restructure their global supply chain after three years of COVID disruption and it is impossible to neglect Chinese markets and Chinese companies [during the process]. This also shows that the expo is just in time," Lin said.
The announcement of the expo also comes after a number of CEOs from leading overseas multinationals have been paying visits to China in recent days, such as Tesla's founder Elon Musk and JPMorgan Chase CEO Jamie Dimon. Reuters also reported that LVHM chief Bernard Arnault is set to visit China this month.
Commenting on the numerous visits, Ren said executives of foreign companies, including Musk, have showed confidence in the Chinese economy during their visits. Hence, they have all pledged to continue investing in the Chinese market.
Chinese officials also vowed at the press briefing that China firmly opposes any claimed "decoupling" moves and will continue guaranteeing the smooth of supply chain.
Yu Jianlong, vice chairman of CCPIT, compared Chinese enterprises to the most vigorous "hematopoietic cell" in global supply chain, and he noted that such cell is of great significance for blood circulation and global economic dynamics.
"China is the builder, contributor, and defender of the global industrial chain," Yu said, while denouncing attempts of "decoupling" and "building barriers" that violate economic rules, harm others without benefiting oneself and are detrimental to global economic recovery.