Foreign friends visit the first China International Supply Chain Expo in Beijing, on December 5, 2023. (PHOTO: VCG)

Edited by TANG Zhexiao 

China will take a clear-cut stand against protectionism and various forms of "decoupling and severing industrial and supply chains," integrate at a deeper level into the global system of industrial and supply chains, and actively participate in international cooperation in green development, Premier Li Qiang said at the first China International Supply Chain Expo (CISCE).This prompted Reuters to report that China had hit back at the West's de-risking strategy as evidenced by the expo. 

As the world's first national exhibition on supply chains, the just-concluded CISCE yielded fruitful outcomes including more than 200 deals and intention agreements signed with a total value of more than 150 billion RMB (about 21 billion USD), according to official data from China Council for the Promotion of International Trade (CCPIT). 

More than 500 domestic and foreign firms exhibited their latest products and technologies at the expo, focusing on smart cars, green agriculture, clean energy, digital technology, and the health and lifestyle sector. 

Indonesian President Joko Widodo highlighted the need to strengthen global supply chains with new solutions and better collaborations, saying that Indonesia welcomes the first CISCE to fully support global efforts to build a stronger and more stable global supply chain. 

"The inaugural supply chain expo is the right event at the right time", said Ngozi Okonjo-Iweala, director-general of the World Trade Organization.The 

remarks were being cognizant of the COVID-19 pandemic and supply disruptions that followed exposing general vulnerabilities in the way global production networks organized.  

Meanwhile, Eddie Yue Wai-man, CEO of the Hong Kong Monetary Authority, said China is to play a dominant role in the global supply chain as it transitions to complex, high-end products, and the country will become even more crucial going forward.

The CISCE also highlighted China's advancements in clean energy and new energy vehicles, said the Helsinki Times. 

Data from the National Energy Administration showed that by the end of this September, the country's total installed renewable energy capacity reached 1.38 thousand gigawatts, which accounted for nearly half of the country's total installed power generation capacity and exceeded that of coal-fired power. 

This is more than double the number of US and Europe installations combined, according to a report titled How China became the Global Genewables Leader by Wood Mackenzie, a global research and consultancy company. Moreover, Mackenzie forecasted that China will hold more than 80 percent of the world’s polysilicon, wafer, cell, and module manufacturing capacity from 2023 to 2026. 

China has become an important force in stabilizing the global clean energy industry chain and supply chain, and has cooperated with more than 100 countries and regions on green energy projects, according to Zhang Shaogang, vice chairman of CCPIT.

Tomasz Szypula, president of the Poland Federation of Small and Medium-Sized Enterprises, recognized China as a prime market when it comes to clean energy cooperation. He told Xinhua News Agency that there are many projects that they would like to cooperate with Chinese business. 

Emphasizing the mutual benefits of supply chain cooperation and the importance of expanding Chinese technologies to broader markets globally, Chris Pereira, CEO of North American Ecosystem Institute, told the Helsinki Times new energy is China's "most internationalized and sustainable advantage.". 

The first CISCE is a big step toward fostering innovative exchanges among companies that have achieved technological breakthroughs, according to foreign affairs commentator Hannan R. Hussain. It also significantly reflects China's vision to share new opportunities for global supply chain resilience, particularly during a period of rapid global transformations in technology, science and resources, said Hussain.