China will continue to take concrete actions to maintain the stability and smooth operation of the global industrial and supply chain, said Chinese Premier Li Qiang at a symposium in Beijing with representatives from participating companies at the 2nd China International Supply Chain Expo.
Attendees included executives from companies and institutions such as Sumitomo Electric Industries, Apple Inc., Charoen Pokphand Group, Rio Tinto Group, Corning Inc., Industrial and Commercial Bank of China, Contemporary Amperex Technology Co. Limited (CATL), Lenovo Group, TCL Technology Group, Yum China, and the US-China Business Council.
Over the past few decades, the deepening of economic globalization has led to the growth of international industrial and supply chains, driving rapid global economic development and benefiting all parties, demonstrating that division of labor and collaboration are inevitable choices for societal advancement, and an efficient economic cycle requires smooth flows of resources, he said.
Amid today’s sluggish global economic growth, protectionism and actions undermining global supply chains are raising costs for businesses, reducing economic efficiency, and hindering shared development, he warned.
In such times, it’s essential to recognize the vital role of global supply chains in the world economy, build broad consensus to enhance supply chain cooperation, oppose all forms of “decoupling” or “parallel systems,” and resolutely maintain the stability and smooth operation of global supply chains to safeguard common interests, he said.
China is a critical link in the global supply chain and will continue taking concrete actions to maintain its stability and smooth operation, Li said.
China’s economy has remained stable with steady progress this year and it will continue to intensify counter-cyclical adjustments, promote sustained economic improvement, nurture new drivers of growth, and advance high-quality development, thereby making more significant contribution to global supply chain cooperation and global economic recovery, he said.
China will accelerate the construction of a modern industrial system with stronger support capabilities and more stable production capacity to underpin the efficient operation of global supply chains, and it will focus on the deep integration of technological and industrial innovation, enhance participation in international innovation collaboration, and provide robust momentum for the transformation and upgrading of global supply chains.
In addition, China is committed to advancing high-level opening-up, expanding market access, and welcoming more foreign enterprises to engage in industrial cooperation in China, creating broader opportunities for global supply chain collaboration.
Li urged companies to be steadfast defenders and active builders of global supply chains, deepen international collaboration, focus on innovation in supply chain cooperation and green transformation, and work together to build a more dynamic, resilient, and efficient global supply chain, enabling better business growth and contributing to the shared prosperity of all nations, he said.