The State Council Information Office held a press conference on October 28 in Beijing to introduce the preparations for the 2nd China International Supply Chain Expo (CISCE). Photo: The State Council Information Office
China is strongly opposed to recent US and EU trade restrictive measures which clearly violate WTO rules, Zhang Shaogang, vice chairman of the China Council for the Promotion of International Trade (CCPIT) said at a State Council Information Office press briefing on Monday.
"We believe the measures are clear unilateral actions that violate WTO rules and adversely impact global industrial and supply chain cooperation. The CCPIT and China Chamber of International Commerce, on behalf of China's business community, express our firm opposition," Zhang said.
CCPIT calls on the US, the EU and other relevant parties to respect market principles and fair competition, stop their misguided actions and take steps to uphold the multilateral, WTO-centred global trade system. Resolving disputes through dialogue is essential for achieving mutual benefit and advancing global economic growth, he said.
Zhang noted that this is not just the voice of Chinese business community but a common call from the global business community. At the recent APEC Business Advisory Council meeting, Chinese and US representatives put forward a joint proposal advocating Asia-Pacific supply chains to be kept open, non-discriminatory, and adhering to WTO rules. "These recommendations, included in the report to APEC leaders, reflect the shared stance of international businesses, including those from China and the US," he said.
At the press briefing, Chinese officials also provided an update on preparations for the upcoming China International Supply Chain Expo (CISCE), scheduled to open on November 26 and end on November 30 in Beijing.
More than 600 Chinese and international companies, marking a 20-percent increase over the first expo, will participate alongside more than 400 industry partners across the supply chain in the 2nd CISCE. The event is expected to draw attendees from more than 100 countries and regions as well as delegations from more than 10 international organizations. Total attendance is expected to surpass the first expo.
This year, foreign companies comprise 32 per cent of all participants, led by US, European and Japanese firms. "This underscores foreign investors' confidence in Chinese market which acts as a leading supply chain partner in the world," Zhang said.
"China leads globally in industrial and manufacturing sectors, supported by a comprehensive supply chain system. Recent government stimulus policies have strengthened its resilience, which will minimize China's vulnerability to global supply chain disruptions, positioning it as a vital partner and investment base for businesses worldwide," Bian Yongzu, executive deputy editor-in-chief of Modernization of Management magazine, told the Global Times on Monday.
Bian said that the pressure imposed by the US and the West on Chinese high-tech firms is destabilizing global supply chains and harming their own interests. Given the heavy reliance of the US tech sector on global supply chain in which China as a key component, this pressure risks damaging US business interests and has fueled growing discontent among both global and US companies.
Bian noted that "US companies cannot thrive outside the global supply chain."
He added that despite certain US government policies, numerous American firms are actively seeking to deepen cooperation with their Chinese counterparts. "The trend of US businesses wanting to invest in China is unlikely to change," he said.
