China pledges to ensure stability of global industrial, supply chains

Chinese Premier Li Qiang attends a symposium with representatives of enterprises and organizations participating in the second China International Supply Chain Expo (CISCE), in Beijing, capital of China, Nov. 25, 2024. (Xinhua/Wang Ye)

China will continue to take concrete actions to ensure stable and unimpeded global industrial and supply chains, Premier Li Qiang said Monday.

Li made the remarks while attending a symposium with representatives of enterprises and organizations participating in the upcoming second China International Supply Chain Expo.

Present at the symposium were representatives of Apple Inc., Rio Tinto, Contemporary Amperex Technology Co., Ltd. and the US-China Business Council, among others.

Highlighting their full confidence in the Chinese economy and optimism about the huge potential of the Chinese market, corporate representatives said foreign firms in China are willing to expand their investment and deepen their development in the country, strengthen cooperation on global industrial and supply chains, and achieve win-win results.

Li said with the in-depth development of economic globalization, global industrial and supply chains have expanded gradually over the past few decades, promoting the rapid growth of the world economy and benefiting all parties.

While global economic growth now lacks momentum, certain protectionist acts and moves that overstretch the concept of security continue to damage global industrial and supply chains, pushing up corporate costs further, reducing economic efficiency and hindering common development, he said.

Li called for firm efforts to safeguard stable, unimpeded global industrial and supply chains, as well as the common interests of all parties.

The premier noted that China has achieved generally steady economic growth and made further progress this year, saying that more efforts will be made to step up counter-cyclical adjustment and promote sound economic development.

China will accelerate the construction of a modern industrial system, and provide solid support for the efficient operations of global industrial and supply chains, Li said.

Efforts will also be made to strengthen the integration of sci-tech and industrial innovation and to better integrate into international innovation cooperation, he said.

China will promote high-standard opening up steadfastly, expand market access further, and welcome more foreign enterprises to engage in industrial cooperation in the country, the premier said.

He expressed the hope that enterprises continue to support economic globalization firmly, deepen the international division of labor and cooperation, and work together to make global industrial and supply chains more dynamic, resilient and efficient.