China eager for closer supply chains and no decoupling, Premier Li Qiang tells inaugural expo, in latest charm offensive
- Premier Li Qiang spoke during the opening ceremony of the inaugural China International Supply Chain Expo on Tuesday in Beijing
- He said that China is willing to build closer production and industrial supply chain partnerships with all countries
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Chinese premier says Beijing opposes cutting off supply chains amid calls for decoupling
Premier Li Qiang vowed to build closer supply chain ties as part of China’s latest efforts to retain foreign investment amid “de-risking” moves from Western economies.
“We are willing to build closer production and industrial supply chain partnerships with all countries,” Li said during the opening ceremony of the inaugural China International Supply Chain Expo on Tuesday in Beijing.
He warned of “challenges and risks brought by protectionism and uncontrolled globalisation”, and said China would continue to create an international and rule of law-based business environment.
Foreign businesses have been moving investments and de-risking their supply chains away from China due to fears of over-reliance as geopolitical and domestic uncertainties mount.
We also expect that the opportunities China can provide for strengthening global supply chains will be showcased,
Beijing has been promoting the five-day event as a demonstration that China is still the indispensable so-called world factory by having global brands, including Apple and Tesla, among the 550 exhibitors, of which 130 are foreign companies.