China will maintain the stability and smooth flows of global industrial and supply chains in a firm manner, according to an initiative released by the China Council for the Promotion of International Trade (CCPIT) on Tuesday.

The Beijing Initiative for the Connectivity of Industrial and Supply Chains was publicized by Ren Hongbin, president of the CCPIT, at the opening ceremony of the China International Supply Chain Expo and the Global Supply Chain Innovation and Development Forum in Beijing.

Maintaining the resilience and stability of global industrial and supply chains is an important guarantee for the promotion of global economic development, and serves the common interests of people around the world, the initiative said.

It called for market principles to be upheld, and for concrete actions to be taken to deepen international cooperation on industrial and supply chains. It urged the world to work together to advance the liberalization and facilitation of trade and investment, and to reduce trade and investment barriers.

Themed "Connecting the world for a shared future," the expo is the world's first national exhibition focusing on supply chains, according to the CCPIT. It aims to create a new platform to promote high-level opening-up, and to become a new way to promote the construction of an open world economy.