China News Service, Beijing, Nov. 11 (Xinhua) -- China has injected stability into the global industrial and supply chains

China News Service reporter Li Xiaoyu

At the critical juncture of the in-depth adjustment of global industrial and supply chains, China has sent a clear signal to the world: China will continue to play the role of "stabilizer" of global industrial and supply chains.

Provide a stable supply from China

At the opening ceremony of the first China International Supply Chain Promotion Expo and the Global Supply Chain Innovation and Development Forum held on the 28th, Chinese Premier Li Qiang made it clear that China will continue to provide the world with high-quality Made in China and stable Chinese supply.

At present, some countries are promoting the return of supply chains due to national security and geopolitical considerations, and engage in "nearshoring" and "friend-shore outsourcing", which brings unnecessary disruption to the global industrial and supply chains. WTO Director-General Iweala pointed out that this will make the supply chain lose the specialization, scale and production efficiency brought by trade, and weaken the supply chain's resilience to shocks such as earthquakes, droughts, and high temperatures.

Analysts believe that the international industrial and supply chain has increasingly become a public good in a sense, and jointly building a safe and stable industrial and supply chain is the need to maintain trade and investment liberalization and facilitation. As the world's second largest economy, China provides the world with a stable supply of China, which will inject more certainty into the global supply chain facing many risks and challenges.

China itself will benefit from this. Zhuo Xian, a researcher at the Development Research Center of China's State Council, said that maintaining a stable supply capacity with high cost performance and stimulating consumption potential will help consolidate the total scale advantage of China's manufacturing industry and lay a solid foundation for strengthening the competitiveness of China's industrial chain.

Actively participate in international cooperation in the field of green development

Nowadays, promoting the transformation of the supply chain to green and low-carbon has become a global consensus, and greening is becoming an important trend in industrial development. Most of the regional trade agreements signed in recent years have provisions on cooperation in green and low-carbon industries, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), which have strengthened cooperation in sustainable development. Many countries and regions have also improved environmental protection standards in production, procurement, and circulation.

Tan Hongbo, an associate researcher at the Chinese Academy of Social Sciences' Institute of Financial and Economic Strategy, said that it is expected that in the future, China will strengthen and refine green environmental protection standards in procurement, production, sales, consumption and research and development in accordance with carbon neutrality, carbon peak goals and global supply chain environmental protection standards, promote the green transformation of enterprises, and strengthen cooperation with the international community in building a global green industrial chain.

Enabling developing countries to participate more deeply in global value chains

At a time when the world economy is struggling to recover, there is a growing call for more developing countries to be included in the global supply chain. Iweala called for deeper, more diversified and more decentralized development of the global supply chain to Latin America, Africa and other places; Hamilton, executive director of the International Trade Centre, also said that every link in the supply chain should be inclusive.

At the Chain Expo, China proposed to actively promote industrial and production capacity cooperation with other countries, and drive developing countries to participate more deeply in the global value chain.

At present, economic and trade cooperation between China and the Belt and Road countries has been carried out in many fields. Analysts believe that as cooperation in production capacity, investment, trade and other fields continues to advance, the Belt and Road countries will also better integrate into the global supply chain, industrial chain and value chain, and play a more important role in the global economic and trade pattern. (ENDS)