Business communities of China, UK look to deepen partnership at supply chain expo

An increasing number of British companies are expected to attend the second China International Supply Chain Expo (CISCE), which will be held in Beijing later this year, with both sides looking to enhance the steadiness and resilience of supply chains. 

A promotion event was held on Friday in London, as Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), brought a delegation of Chinese enterprises to the UK for a visit.

Chinese ambassador to the UK, Zheng Zeguang, Sir Sherard Cowper-Coles, chair of the China-Britain Business Council (CBBC) and Jack Perry, chairman of the 48 Group Club all delivered speeches at the event. At least 150 insiders from the industrial and commercial sectors have attended.

Launched in 2023, the first CISCE themed "connecting the world for a shared future", saw the participation of more than 500 Chinese and foreign exhibitors, including Rio Tinto, AstraZeneca, Standard Chartered, and HSBC from the UK, Tesla and Apple from the U.S.. Chinese tech companies CALT, iFlytek also participated. 

More than 200 deals with an overall value of around 20 billion US dollars were signed at the expo.

The exhibition this year is expected to be categorized into six main sections, including Advanced Manufacturer, Smart Vehicle, Green Agriculture, Clean Energy, Digital Technology and Healthy Life.

Referring to the history of the 'Icebreaking Mission' of the China-UK trade, CCPIT chair Ren Hongbin highlighted the importance of the cooperation.

"Industrial and supply chains in the economy are like the circulatory system of the human body," said Ren, adding that cooperation between the enterprises of the two countries is conducive to maintaining the resilience and stability of the supply chains.

Meanwhile, the positive factors in the Chinese economy, as well as the continuous upward trend since the first quarter of this year have shown that the Chinese market will continue to provide great opportunities for the global business community, said ambassador Zheng.

He also denied the so-called "excessive capacity" in the Chinese auto industry and other sectors, adding that the competitive pricing is a result of the cutting edge technology and scale of the Chinese market.

"What we have produced and exported to the world increased global supply, which alleviates the pressure of high inflation and cost of living in so many countries," said Zheng, adding that they have also contributed to the global demand for responding to climate change and doing transition.

While mentioning the general election announced by UK Prime Minister Rishi Sunak earlier this week, Zheng urged the politicians to stop using China as "an easy target for political benefit."

He also thanked the British business community for their persistence and determination in pursuing a beneficial partnership between the two countries, adding that "we should not be distracted."

Sherard Cowper-Coles shared the experience of his recent visit to China together with a British delegation, while encouraging more British companies to broaden cooperation with China by attending the second CISCE in November this year.

The second CISCE is expected to be held in Beijing from November 26 to 30 this year. According to Ren, nearly 400 Chinese and foreign companies have already signed up for participation.