China calls for extra cooperation on global supply chain security

China called for more international cooperation to enhance industrial and supply chain security amid pressure from COVID-19 outbreaks, geopolitical tensions and a gloomy global outlook, the country's top economic regulator said on Wednesday.

Lin Nianxiu, deputy head of the National Development and Reform Commission, called on Asia-Pacific Economic Cooperation members to promote regional trade liberalization and facilitation, boost industrial and supply chain connectivity, and build a green and sustainable supply chain system.

Lin said China is willing to work with other APEC members to actively participate in consultation as well as economic and trade cooperation in fields such as digital economy, big data and artificial intelligence.

More efforts will be made to strengthen cooperation to tackle shortcomings in the supply chain and deal with challenges in fields like logistics, energy and agriculture. And China will also work with other APEC members to promote policy research, standards setting and international cooperation in the green industry.

"China will not shut its door to the outside world, but only open it wider," Lin said.

"China will not change its determination to share development opportunities with the rest of the world, and it will not change its commitment to economic globalization that is more open, inclusive, balanced and beneficial for all."

Lin made the remarks at the APEC Workshop on Strengthening Supply Chains Resilience for Economic Recovery held in Beijing on Wednesday.

Taking place both online and offline, the event was organized by the NDRC and brought together around 150 guests from home and abroad to discuss topics including maintaining stability of supply chains, bolstering free trade and increasing supply chain resilience.

Zhang Shaogang, vice-chairman of the China Council for the Promotion of International Trade, said the country is committed to building an open economy and ensuring the security and smooth flow of global supply chains.

Zhang highlighted the importance of increasing the resilience and stability of industrial and supply chains, saying this will help promote global economic recovery amid pressure from the ongoing pandemic and regional conflicts.

He called for more efforts to promote building an open global economy, support the multilateral trading system with the World Trade Organization at its core, encourage e-commerce and digital trade development and cooperation, increase support for small and medium-sized enterprises, strengthen the construction of logistics infrastructure and accelerate the green and low-carbon transformation of industrial and supply chains.

Zhang's views were echoed by Lu Mei, China's APEC senior official, who called on deepening international cooperation in industrial and supply chains to promote solid and sustainable economic recovery in the Asia-Pacific region.

Lu said more efforts are needed to encourage green development, foster new growth drivers, insist on openness and connectivity and promote digital transformation and upgrading of traditional enterprises.

Looking ahead, she said China will continue to expand high-level opening-up and it is willing to deepen industrial and supply chain cooperation with all parties, offering more development opportunities for global stakeholders and helping promote innovation-driven development in the Asia-Pacific region.

Despite challenges and pressures from renewed COVID-19 outbreaks and a grim and complicated international situation, China has witnessed a steady rise in foreign direct investment, showcasing foreign investor confidence in the China market.

The actual use of FDI in the Chinese mainland rose 15.6 percent year-on-year to over 1 trillion yuan ($137 billion) in the first nine months, said the Ministry of Commerce. In US dollar terms, the country's actual use of foreign capital grew by 18.9 percent.

In the next step, the NDRC will make a big push to encourage more foreign investment, continuously promote the implementation of major foreign-invested projects and improve services for foreign investors, said Xia Qing, deputy director of the NDRC's Department of Foreign Capital and Overseas Investment.