Multinational companies (MNCs) are taking advantage of the China International Supply Chain Expo to showcase their latest technologies and products in an effort to gain a greater market share. The expo serves as a platform for companies to not only exhibit their offerings but also forge stronger bonds with their Chinese business partners.
Executives at the event, which is taking place in Beijing from Tuesday to Saturday, emphasized China’s advanced supply chain, technology, and vast market potential as crucial factors in attracting global companies to showcase their innovations. The expo aims to highlight products, technologies, and services related to high-end manufacturing, green economy, and digital services.
US electric carmaker Tesla Inc is among the participants keen on leveraging the expo to explore successful experiences from other industries and connect with potential suppliers. Tesla’s vice-president, Tao Lin, emphasized the company’s commitment to contributing to the establishment of a globally secure, stable, efficient, and mutually beneficial production and supply chain system. Tao highlighted Tesla’s strong presence in China, with a localization rate of over 95 percent and an automation rate of over 95 percent at its gigafactory in Shanghai.
Tesla has also signed contracts with more than 400 local tier-one suppliers, with over 60 of them integrated into the company’s global supply chain system. The Shanghai plant serves as Tesla’s global export hub, shipping products to Europe and the Asia-Pacific markets. In 2022 alone, Tesla delivered over 1.31 million vehicles globally, with more than 710,000 vehicles coming from its Shanghai gigafactory.
China’s status as the world’s largest electric vehicle market makes it a crucial market for Tesla’s growth. The company acknowledges China’s policy support and favorable business environment as instrumental in its success over the past decade. Tesla sees unmatched advantages and vast prospects in China, making it a must-have market for the US carmaker.
Executives from other companies present at the expo echoed similar sentiments. Jens Eskelund, chief representative for North Asia at Danish shipping and logistics service provider A.P. Moller-Maersk, highlighted China’s role in global trade and supply chains, creating jobs, value, and opportunities over the years. Eskelund viewed the expo as a platform for bringing people together and creating prosperity through international supply chains.
The China International Supply Chain Expo attracted exhibitors from 55 countries and regions, with 36 percent of them representing US and European companies, including Amazon, ExxonMobil, and Apple. Industry leaders like Eddy Chan, senior vice-president of FedEx Express and president of FedEx China, stressed the importance of an integrated supply chain for businesses to tackle risks and achieve growth in the international market.
Chan emphasized FedEx’s commitment to connecting China with the outside world through its global network, continually improving its network, expanding infrastructure, and enhancing efficiency.
The expo aims to inject stability into global trade and highlights the interconnected nature of today’s world, especially in the realm of economy and trade. By facilitating cross-border collaboration, an integrated supply chain becomes the key to overcoming challenges and seizing opportunities in the vast international market.
As the maiden China International Supply Chain Expo progresses, MNCs are utilizing this platform to not only showcase their latest technologies and products but also strengthen their partnerships within the Chinese market. The event serves as a testament to China’s robust supply chain, technology advancements, and immense market potential, making it an attractive destination for global companies to exhibit their innovations.
By actively participating in the expo, companies like Tesla, A.P. Moller-Maersk, and FedEx express their commitment to contributing to the establishment of a secure, stable, efficient, and mutually beneficial production and supply chain system. With a focus on high-end manufacturing, green economy, and digital services, the expo presents a unique opportunity for companies to connect with potential suppliers, explore successful experiences in other industries, and expand their presence in this crucial market.
As the world becomes increasingly interconnected, events like the China International Supply Chain Expo play a vital role in bringing people together and creating prosperity through international supply chains. With exhibitors from various countries and regions, the expo showcases the potential of global trade and supply chains to drive economic growth and create opportunities for businesses worldwide.
Overall, the expo serves as a hub for industry leaders to collaborate, form partnerships, and navigate the complexities of the global market. As the event continues, attendees and participants are optimistic about the future of supply chain innovation and the positive impact it will have on their businesses and the global economy.
