In a strategic move amidst ongoing geopolitical trade tensions, China is expanding its supply-chain focus to include more 'least-developed countries' as part of the upcoming China International Supply Chain Expo (CISCE). Scheduled to take place in Beijing from November 26 to 30, 2024, the expo is expected to attract over 600 companies, marking a 20% increase from the previous year. Notably, foreign vendors participating in the CISCE have increased to 32%, reflecting China's appeal as a supply chain partner [ef60768d][8757821f].
A recent survey indicated that 64.9% of over 400 foreign companies view China as the best supply chain partner, with 66.6% supporting local government policies. This sentiment underscores China's favorable foreign capital policies, which are seen as conducive to international business [8757821f]. The African Union will represent several countries at the expo, including Ethiopia, the Democratic Republic of the Congo, and Ghana, showcasing China's commitment to strengthening regional supply chains [ef60768d].
The CISCE will feature advanced manufacturing technologies alongside themes such as smart cars and clean energy, with notable participants including global giants like Rio Tinto, Bosch, Baowu, and Xpeng [ef60768d]. This expansion reflects China's broader strategy to enhance its supply chain resilience and foster economic ties with developing nations, particularly in the context of rising global trade tensions and the need for diversified supply sources.
In addition to the CISCE, the China International Import Expo (CIIE) is set to take place from November 5 to 10, 2024, featuring 3,496 vendors from 129 countries, including 297 Fortune Global 500 companies. This further illustrates China's role as a central hub for global trade and investment [8757821f].
As the global market continues to navigate uncertainties, including China's economic challenges and the volatility in international markets, the focus on least-developed countries may provide new opportunities for collaboration and growth. The integration of these nations into China's supply chain strategy could also play a crucial role in addressing global supply chain disruptions and fostering economic development in these regions [36219ba9].
Overall, the upcoming CISCE and CIIE represent significant steps in China's efforts to strengthen its economic partnerships and adapt to the changing global landscape, while also addressing the needs of less developed economies. The presence of major corporations like Intel, which is expanding operations in Chengdu, and Apple's CEO Tim Cook pledging increased investment in China, further solidifies China's position as a vital player in global supply chains [8757821f].