Technology

Promoting international cooperation in industrial and supply chains

Published

2 days ago

November 21, 2024

BEIJING, Nov. 21, 2024 /PRNewswire/ — This is an article from China.org.cn:

Chinese President Xi Jinping has emphasized that in a world of economic globalization, only by upholding openness and cooperation in global industrial and supply chains can win-win development be achieved. The resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) proposed facilitating international cooperation in industrial and supply chains. In alignment with these instructions, the China Council for the Promotion of International Trade (CCPIT) has embraced its mission by safeguarding the public-good nature of industrial and supply chains, fostering connections between government and business, integrating domestic and global markets, and streamlining coordination between supply and demand. As part of these efforts, the CCPIT is meticulously preparing for the second China International Supply Chain Expo (CISCE), so as to contribute to the development of an open global economy and the building of a community with a shared future for humanity.

Rapid reconstruction of global industrial and supply chains

The world today is undergoing major changes unseen in a century. Profound and complex shifts in the international political and economic landscape are marked by frequent local conflicts and turmoil, intensified rivalries among major powers, and a rising wave of anti-globalization. Against this backdrop, the restructuring of global industrial and supply chains is occurring at an accelerated pace.

On one hand, a new wave of scientific and technological revolutions, represented by information technology, artificial intelligence and new energy, is rapidly advancing. Digitalization and green transition have emerged as the primary directions for upgrading and modernizing industrial and supply chains. In response to these sweeping technological and industrial trends, countries around the world are making forward-looking strategies and investments. Breakthroughs in cutting-edge technologies are triggering changes in traditional industrial chains, giving rise to new fields and sectors such as artificial intelligence, green energy and biomedicine. These developments are significantly enhancing the efficiency and quality of supply systems, generating substantial new demand, and creating opportunities for global cooperation in industrial and supply chains while injecting new vitality into development.

On the other hand, due to the rise of protectionism, public health crises and geopolitical turmoil in recent years, industrial and supply chain cooperation has shown tendencies of politicization and securitization. Some nations are promoting “decoupling” and “small yard, high fence” policies, prompting multinational companies to shift their priorities from pursuing “cost and efficiency” to balancing “efficiency and security.” This trend has driven global industrial and supply chains toward onshoring, nearshoring and friendshoring, heightening the risk of economic fragmentation.

Given the diverse resource endowments and development levels of different countries, economic and trade cooperation remains the only viable path to achieving complementary strengths and mutual benefits. As the world’s largest developing country, China has long been committed to its own development while deeply participating in global industrial and supply chain cooperation, continuously making new contributions to the stability and resilience of global industrial and supply chains.

China as a pillar of stability for global industrial and supply chains

Security and stability are the cornerstones of development. Achieving these requires enhancing global resource coordination of key industrial chains, ensuring that countries and businesses have reliable partners and stable development expectations.

China has the world’s most comprehensive industrial categories and a well-rounded industrial system, with manufacturing value-added accounting for around 30% of the global total, and over 40% of major industrial products ranking first in global output. In recent years, China’s position in mid-to-high-end industries, such as electronics, electrical equipment and machinery, has risen rapidly within the global division of labor. This has provided significant support for the stable operation of global industrial and supply chains, establishing China as a solid and reliable player in the global economic system.

The world economy operates as an interconnected whole. It requires the seamless circulation and effective allocation of production factors, while China plays a pivotal role in driving global connectivity.

With high-quality Belt and Road Initiative (BRI) cooperation as a guide, China has focused on strengthening the “hard connectivity” of infrastructure and the “soft connectivity” of rules and standards with partner countries. To date, China has signed over 200 BRI cooperation agreements with more than 150 countries and 30 international organizations, aligning development strategies, management rules and standards. Landmark projects such as the China-Europe Railway Express, the Hungary-Serbia Railway and the Jakarta-Bandung High-Speed Railway have been completed, significantly reducing cross-border transportation and transaction costs while enhancing the quality and efficiency of global industrial and supply chains.

China pursues a proactive strategy of opening up and sharing the benefits of its vast market of over 1.4 billion people with the world. It has become the primary trading partner for more than 150 countries and regions, firmly maintaining its position as the world’s second-largest consumer market and the largest trading nation in goods. More than 90% of foreign-funded enterprises in China are oriented toward the Chinese market. By continuously easing market access, fostering a market-oriented, law-based and internationalized business environment, and attracting foreign investment on a global scale, China provides multinational companies with broad opportunities for growing their global presence.

Openness and inclusiveness are vital for fostering shared development and prosperity. Promoting the integration of global industrial and supply chains while driving the green, low-carbon transition is essential.

Upholding the principles of harmony and coexistence, China has proposed initiatives on supply chain cooperation at such multilateral platforms as APEC, the G20 and BRICS, urging all parties to eliminate non-economic disruptions in trade relations. China has actively promoted international cooperation in green development. It has significantly enriched global supply with high-quality production capacities in electric vehicles, lithium batteries and photovoltaic products, contributing to the green development of global industrial chains. China also hosted the ASEAN Plus Three Industrial Chain & Supply Chain Partnering Conference to help enterprises in relevant countries integrate into global industrial and supply chains.

Building closer global industrial and supply chain partnerships

In line with President Xi’s directives, the CCPIT successfully launched the inaugural CISCE in 2023. This is the world’s first national-level supply chain expo, which has played a pivotal role in facilitating connections across the upstream, midstream and downstream sectors, promoting collaboration among enterprises of all sizes, fostering partnerships between industry, academia and research, and enhancing dealings between Chinese and international businesses. As a new open platform for win-win global partnerships, it strengthens cooperation between China and the world.

The second CISCE is going to take place in Beijing from Nov. 26 to 30, 2024. We will adhere to the principles of internationalization, specialization, market orientation and green development in organizing the event. We aim to amplify the expo’s role as a hub for trade promotion, investment cooperation, innovation and knowledge exchange, working alongside all stakeholders to build a closer global industrial and supply chain partnership. This will contribute to the recovery and growth of the global economy.

We will enhance CISCE’s role as a window for high-level opening up. This year, CCPIT has hosted over 60 roadshows globally, inviting enterprises and stakeholders from around the world to participate in the second CISCE. Five international organizations – the United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization, the World Intellectual Property Organization, the International Trade Centre (ITC) and the International Chamber of Commerce – have joined as supporting units.

The expo has attracted more than 600 companies and institutions from nearly 70 countries, a 20% increase from its debut. Notably, over 60% of participants are either Fortune Global 500 companies or industry leaders. The percentage of overseas exhibitors has risen from 26% to 32%, with equal representation from Europe and the U.S and over 40 BRI partner countries. Delegates from over 100 countries and organizations will gather to explore the theme of “Connecting the World for a Shared Future.”

We will strengthen the platform to serve the new development pattern. The 2024 CISCE serves as a bridge for industrial integration, innovative promotion and market connectivity between China and the world. It uses supply chains as a catalyst for long-term collaboration between Chinese and foreign companies, to foster a precise and dynamic corporate ecosystem.

The new advanced manufacturing chain exhibition area will focus on developing new quality productive forces with nearly 80 leading global enterprises showcasing cutting-edge technological achievements from front-end designs to end-use applications, enhancing exchanges with innovation as well as cooperation.

Over 70 new products, technologies and services will debut alongside targeted initiatives, such as promoting high-quality industrial chains in the Yangtze River Delta and showcasing investment opportunities in the Hainan Free Trade Port. These efforts aim to turn exhibitors into investors, fostering deeper engagement and investment of global enterprises in China.

We will enrich mechanisms to foster an open and inclusive global economy. The CISCE encourages joint participation by Chinese and international enterprises. For example, Rio Tinto, Bosch, Baowu and XPeng will jointly depict a comprehensive upgrade of the smart and green automotive industry. Fonterra, together with its Chinese supply chain partners, will demonstrate sustainable development of the “farm-to-table” ecological chain. Lenovo and SAP will highlight innovations in private cloud and commercial AI.

The expo will release the Global Supply Chain Promotion Report 2024, the Global Supply Chain Promotion Index and the Connectivity Index as well as will gather Chinese and foreign guests to discuss sustainable market initiatives and the New International Land-Sea Trade Corridor, thus providing suggestions for promoting open global cooperation.

We will broaden practical pathways for building a community with a shared future for humanity. This year, the CCPIT has been proactively sharing China’s experiences in strengthening cooperation with global supply chains. It facilitated a joint APEC proposal on supply chain resilience with US business leaders, organized a delegation for the UNCTAD Global Supply Chain Forum and co-hosted a seminar on building greener and more resilient supply chains with the ITC at the World Trade Organization Public Forum.

The 2024 CISCE will release a “Beijing Initiative” to promote international cooperation in industrial and supply chains, and support the launch of industrial alliance initiatives across its six key industrial chains and one exhibition area, thus to broaden global consensus. Focusing on expanding unilateral opening up to the least developed countries, the CCPIT will support exhibitors from Africa, the Pacific Islands and the Caribbean, demonstrating in concrete actions China’s commitment to inclusivity and shared prosperity.

The author is chairman of the China Council for the Promotion of International Trade.
This article was written in Chinese and translated by China.org.cn.
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.

Promoting international cooperation in industrial and supply chains
http://www.china.org.cn/opinion/2024-11/21/content_117561461.htm

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SOURCE China.org.cn

Technology

PASHA Holding forges global connections at COP29

Published

7 minutes ago

November 23, 2024

BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — PASHA Holding, a leading Azerbaijani company, successfully participated at COP29, reaffirming its dedication to climate action. As an Impact Partner at the event, PASHA Holding actively engaged in meaningful discussions, collaborated with global stakeholders, and shared its vision for a sustainable future.

The holding’s presence included a tailored booth in the Green Zone, alongside multiple thought-provoking sessions led by PASHA Holding companies, including PASHA Bank, Kapital Bank, PASHA Insurance, PASHA Life, AgroDairy, and PASHA Real Estate. These sessions addressed critical issues such as climate finance, sustainable agriculture, and the role of private sector leadership in fostering inclusive green transitions.

Through its participation, PASHA Holding leveraged the opportunity to exchange ideas, build relationships with regional and global peers, and learn from diverse experiences in tackling climate challenges. By engaging with stakeholders from government, international organizations, and the private sector, PASHA Holding enhanced its capacity to drive sustainable development initiatives in Azerbaijan and beyond.

Aytaj Mukhtazada, Head of PR and Communications at PASHA Holding, remarked:

“COP29 has been an extraordinary platform for us to amplify our sustainability vision and forge valuable connections. The insights gained and partnerships established here will enable us to align our strategies with global climate objectives while addressing the unique needs of our region. This experience underscores the importance of collaboration in creating impactful, long-term solutions to the challenges we all face.”

Key elements of PASHA Holding’s sustainability strategy include minimizing the environmental impact of its own operations, investing in projects that support the transition to net zero, and investing in technological innovation to address the challenges presented by climate change. In the near future, the group plans to conduct comprehensive diagnostics and gap analysis across its subsidiaries to set specific goals to decrease our carbon footprint, including supply chain, support the customers in their transition journeys and increase investments in green initiatives. Additionally, PASHA is committed to empowering its stakeholders through education and collaboration, ensuring that sustainability is embedded across the wider economy. These plans include supporting the development of a sustainable SME landscape in the country, aiding farmers in their green transition, and supporting innovation for developing decarbonization solutions.

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SOURCE PASHA Holding

Technology

Global Times: China vows to promote steady growth of foreign trade

Published

1 hour ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People’s Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

Meanwhile, at the same press conference, the vice commerce minister highlighted China’s capacity in dealing with external shocks in the first explicit, publicly known response by a senior commerce official to the impact of the US’ potential 60 percent tariffs on Chinese imports. He stressed tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world.

The press conference came after MOFCOM, together with the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People’s Bank of China and the General Administration of Customs rolled out nine measures to support foreign trade, involving support and guidance in insurance, financing, cross-border trade settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Analysts noted that the latest move will further enhance the confidence of Chinese foreign trade enterprises, thereby injecting a stable and strong impetus to economic development, helping the country navigate the complexities of the global market.

Policy support

During the press conference, Chinese Vice Commerce Minister Wang Shouwen noted that the policy is aimed at responding to changes in the international trade situation and promoting solutions to practical difficulties faced by foreign trade enterprises in financing and maritime transport.

The raft of policy measures aimed at promoting the steady growth of foreign trade was deliberated and adopted by a State Council executive meeting on November 8.

The Ministry of Commerce on Thursday unveiled the policy measures in a notice. Among the nine specific measures, financial institutions are encouraged to increase financing support for micro, small and medium-sized companies based on market-oriented and law-based principles.

Efforts should be made to optimize cross-border trade settlement, promote the development of cross-border e-commerce, expand agricultural product exports, and support the imports of key equipment and energy resources, said the notice.

The overall situation of China’s foreign trade is relatively optimistic, but at the same time we should also see that uncertainties continue to accumulate. Maintaining stable growth in foreign trade and sustained improvement in competitiveness cannot be separated from policy support, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said on Friday.

“The timely joint efforts by five Chinese departments enhanced the confidence and expectations of Chinese foreign trade enterprises, and the measures will effectively help address problems of current foreign trade and future uncertainties,” Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Friday.

Stable growth in foreign trade can provide more impetus for the domestic economy. The nine measures are part of a package of policy measures to inject growth momentum and confidence into stabilizing the economy, which will help realize the country’s annual economic targets, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said on Friday.

“Consumption, investment, exports and market sentiment all improved in October, and this trend is highly likely to continue in the last two months of the year, as the confidence of enterprises and consumers has been shored up thanks to the support policies,” Wang Peng told the Global Times.

Resilient against external shocks

At the press conference on Friday, Wang Shouwen also stressed that China has the capacity in dealing with external shocks largely owing to its resilient and vibrant economy that has great potential in a response to a question on the impact of the US’ potential 60 percent tariffs on Chinese imports.

China is building a “dual circulation” development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other. We are capable of resolving and withstanding the impact of external shocks, the official told reporters.

Wang Shouwen noted that history has also shown that the imposition of tariffs on China by a country does not solve the problem of its own trade deficit, on the contrary, it pushes up the prices of the country’s imports from China as well as from other countries.

This is because the tariffs are ultimately paid for by the consumers and the end-users of the importing country, which inevitably leads to an increase in the prices paid by consumers and an increase in the costs to the users, which also leads to inflation, the vice commerce minister further elaborated.

The vice commerce minister said that China and the US are the two largest economies in the world, and have strong complementarities. We believe that if China and the US can maintain a stable, healthy and sustainable development trend in their economic and trade relations, it will be beneficial to both the Chinese people and the American people, as well as the people of all countries in the world, and this is also what the international community expects, he said.

China is willing to engage in dialogue with the US on the basis of the principles of mutual respect, peaceful coexistence and win-win cooperation, in a bid to expand areas of cooperation, manage differences, and promote the stability of the bilateral trade and economic and trade relationship, Wang Shouwen said, noting that China will also firmly safeguard its own sovereignty, security and development interests.

Chinese companies have advantages in ordering, transportation, warehousing and other export-related areas that are difficult for other countries to replace, due to their complete supply chain and high production efficiency, Li said.

“Moreover, the country’s economic resilience provides enough market size to address some of the external risks. In particular, China has continued to promote new dynamics in foreign trade and new quality productive forces, which will cultivate new international competitive advantages,” Li noted.

“Years of China-US trade and investment have made the two sides interdependent. In addition to providing US consumers with cost-effective products, China’s exports of its intermediate products have become embedded in the US supply chain and have become part of the competitiveness of many US industries,” Li said, noting that the US needs to maintain rationality in its economic and trade policy toward China.

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SOURCE Global Times

Technology

ZICC: Closer China- Honduras Ties

Published

1 hour ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Renato Florentino, vice president of Honduras, accepted an exclusive interview with ZICC in Wuzhen during the 2024 World Internet Conference Wuzhen Summit. He said that China’s advancements in transportation, communication, and computing impressed him a lot. “We hope to continue to promote the cooperation between Honduras and China and maintain close cooperative relations,” he said.

SOURCE ZICC