Supply chain expo to highlight opportunities
A roadshow promoting the first China International Supply Chain Expo (CISCE) was held in London on Wednesday, with around 140 leaders and representatives from British and Chinese business sector attending.
The expo, the world's first supply chain-themed exhibition, is scheduled to run in Beijing this year from Nov 28 to Dec 2.
According to China Council for the Promotion of International Trade (CCPIT), which is to host the expo, it will invite upstream, midstream, and downstream players from global supply chains in sectors such as smart vehicles, green agriculture, clean energy, digital technology, and health-based lifestyles, to display their products.
More than 300 exhibitors from 50 countries and regions are expected to take part in the expo, with a turnout of over 50,000 domestic and international buyers on site.
Yu Jianlong, vice-chairman of the CCPIT, joined the event remotely and said CISCE distinguishes itself from conventional trade fairs as the expo has a unique theme, presentation, and outcome.
CISCE, as the world's first expo which focuses on supply chains, does not value a single product, but will showcase all the latest achievements in the upstream, mainstream, and downstream sectors, along with related services, such as banking, insurance, logistics, legal services and creative design, said Yu.
CISCE is not only a place for making deals, but more of a platform for open communications, aiming to help stabilize the global industrial and supply chains in the long term, Yu added.
"In the next 15 years, China will have a middle-income population of 800 million. It makes a first-class business environment that is market-oriented and law-based in keeping with international standards," said Yu. "In this context, CISCE will be an important bridge connecting Chinese and foreign companies."
Bao Ling, minister counselor of China's embassy in the UK, said with CISCE approaching, prospects are good for Sino-British economic cooperation.
"In 2022, the bilateral trade between China and the UK exceeded 110 billion pounds ($136 billion) for the second consecutive year. China is the UK's third largest trading partner in goods, and tenth largest trading partner in services.
"As of the end of May 2023, the total two-way investment stock amounted to $54.63 billion, an increase of more than $12 billion over the pre-pandemic period. And China and the UK each accounted for 50 percent of these increments.
"We hope that the British businesses will make full use of CISCE to explore the potential of cooperation, share the growth dividends of China, expand the space for businesses in China, and realize a win-win development with China," said Bao.
Representatives from the City of London Corporation, HSBC, Standard Chartered, Jardine Matheson and Jaguar Land Rover attended the roadshow on Wednesday.
Sherard Cowper-Coles, chairman of the China-Britain Business Council, said the roadshow in London reinforced the importance of comparative advantage, an economic theory invented two centuries ago that explains why countries should engage in international trade.
He said that not only would the council support CISCE, but he will lead a delegation from the UK to take part with enthusiasm because he is committed to "fighting back against the forces of ignorance and de-globalization", highlighting that China is "at the heart of the story" to pursue comparative advantage.
The chairman encouraged UK sectors to jointly enhance Sino-British economic exchanges. "And you, ladies and gentlemen, are, can be, and must be part of the story. That is my Ying Zhong Meng (Britain-China dream), my China-Britain dream."
Jack Perry, chairman of the Young Icebreakers of the 48 Group Club, said British businesses, eager to flourish even in the midst of the economic downturn, must explore opportunities outside of the UK and avoid closing doors.
The 48 Group Club is a London-based non-profit organization dedicated to promoting Sino-British trade cooperation. The group is named after a UK trade delegation of 48 businessmen, referred to "icebreakers", who traveled to Beijing to initiate trade ties with China in 1953, long before the two countries permitted the exchange of ambassadors in 1972.
This year marks the 70th anniversary of the bold moves made by the "icebreakers".
"De-coupling and de-risking can actually cause the problems we are supposed to address, leading to less business, less revenue, and less visibility, said Perry.
"We at 48 Group and everyone in this room look forward to the opportunity of seeing all these (discussions and developments) about CISCE in Beijing."
