Foreign visitors tour the first China International Supply Chain Expo in Beijing on December 2, 2023. Photo: cnsphoto

As the second China International Supply Chain Expo (CISCE) welcomed its 100-day countdown, experts said that it has great significance in promoting industrial exchanges. It will advance high-level opening-up and strengthen communication between the upstream and downstream parts of the supply chain.

The second CISCE, aiming to promote trade, foster investment cooperation, aggregate innovation, and encourage learning and exchanges, is scheduled to run from November 26 to 30 at the China International Exhibition Center in Beijing.

It has generated enthusiasm among the global business community, with nearly 500 domestic and foreign companies having confirmed their participation so far, China Media Group reported on Sunday. 

According to the China Council for the Promotion of International Trade, the organizer of the expo, a majority of the exhibitors are specialized and innovative companies, with more than 30 percent being foreign-funded.

More than 60 percent of the foreign companies attending are Fortune 500 companies and industry leaders.

Notably, despite disruptions in global supply chains due to regional conflicts and geopolitical tensions, and the "decoupling" attempts made by some Western politicians, more than 30 percent of the companies signing up for the expo are from overseas, compared with 26 percent last year.

This situation showcases the widespread desire among global businesses for stable industrial and supply chains, and it also demonstrates their strong confidence in China's supply chain stability, experts said.

The expo will offer a crucial platform for international cooperation to safeguard the stability of global industrial and supply chains, Bai Ming, research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Sunday.

On August 1, Craig Allen, president of the US-China Business Council, said that the CISCE will become a regular feature of global international trade, and companies from the US are encouraged to attend this year's event.

As the largest manufacturing country in the world and an indispensable part of global supply chains, China is actively involved in and benefits from global industrial and supply chain cooperation, while also playing a key role in maintaining and strengthening these networks.

SOURCE: GLOBAL TIMES