China Intl Supply Chain Expo nets $21B in deals, draws global tech giants

Guests communicate at the opening ceremony of the second China International Supply Chain Expo (CISCE) in Beijing, capital of China, Nov. 26, 2024. [Photo/Xinhua]

The second China International Supply Chain Expo wrapped up in Beijing on Nov. 30, drawing more than 620 enterprises and institutions from 69 countries and regions, significantly surpassing last year's inaugural event in scale and impact.

Under the theme "Connecting the World for a Shared Future," the five-day expo yielded more than 210 trade deals and tentative agreements worth over 152 billion yuan ($21 billion). 

Participating companies established connections with more than 37,000 upstream and downstream enterprises, resulting in approximately 6,700 potential partnerships.

Exhibitors widely acknowledged the expo's crucial role in strengthening market confidence and deepening business relationships. The event's organizer, the China Council for the Promotion of International Trade (CCPIT), facilitated precise matchmaking between Chinese and foreign enterprises, leading to several significant deals.

This photo taken on Nov. 28, 2024 shows silicon carbide bridge modules at the booth of Bosch at the second China International Supply Chain Expo (CISCE) in Beijing, capital of China. [Photo/Xinhua]

Among notable agreements, Japan's Sumitomo Electric secured long-term strategic cooperation agreements valued at roughly 100 million yuan for optical fiber welding machines, while Honeywell inked a strategic cooperation memorandum with Chinese enterprises.

The expo's success has bolstered its brand recognition and generated heightened interest in future events.

At a Nov. 30 signing ceremony, 68 companies and institutions committed to participating in next year's third supply chain expo.

Global industry leaders, including Siemens, SAP and AstraZeneca, expressed intentions to expand their presence at the next expo alongside additional supply chain partners. This enthusiasm signals growing business interconnectivity through the platform.

Zhang Shaogang, vice chairman of CCPIT, pointed out at the expo's closing session that the event not only focuses on short-term transactions but also encourages long-term cooperation and common development between upstream and downstream supply chain enterprises. 

Exhibitors aren't "arm-wrestling" to compete for customers; they are joining their hands to look for partners among each other, Zhang added.

The second China International Supply Chain Expo is held at the Shunyi Hall of the China International Exhibition Center in Beijing, capital of China, Nov. 26, 2024. [Photo/Xinhua]

The expo strengthened its "platform+chain" model this year, with more than 400 supply chain partners joining primary exhibitors on the show floor. This approach highlighted the interconnected nature of global manufacturing networks.

Apple demonstrated this collaborative spirit by showcasing its latest innovations in smart and green manufacturing alongside four Chinese suppliers. One participant, Yuto Tech, which provides packaging solutions for Fortune 500 companies, emphasized the value of this joint presentation.

The person in charge of Yuto Tech said that the joint participation of the four companies not only reflects the support of the many companies behind Apple's brand, but also allows the public to more intuitively understand the operation of the brand. 

In addition, the establishment of business ties between the four companies has also promoted in-depth exchanges and cooperation. Another supplier of Apple, LY iTech, also said that the event gave it the opportunity to examine the progress of other companies in technology development and innovation so that they can more directly promote their own technology improvement.

Throughout the event, exhibitors moved freely between exhibition areas, engaging in negotiations and discussions that transformed the expo into a "win-win chain" of supply chain partnerships.

Innovation took center stage as companies unveiled cutting-edge technologies and products. The expo has emerged as a premier launch platform for new industrial technologies, with businesses across multiple sectors choosing the venue to debut their latest innovations.

Notable product launches included Lenovo's unveiling of the world's first transparent laptop, demonstrating advances in electronic display technology. CATL, China's leading battery manufacturer, introduced its latest energy storage system, marking significant progress in renewable energy solutions.

In the health care sector, GE HealthCare arrived with 15 core suppliers to showcase recent developments in high-end medical equipment and biomedical technology.

Zhang Yihao (3rd L), president and CEO of GE HealthCare China, and Ren Hongbin (4th L), chairman of the China Council for the Promotion of International Trade, alongside other GE HealthCare executives, attend the opening of the company's booth at the second China International Supply Chain Expo in Beijing, Nov. 27, 2024. [Photo/China.org.cn]

These high-tech products and services demonstrate enterprises' cutting-edge exploration in intelligent manufacturing, digital economy and related fields.

The newly added "Advanced Manufacturing Chain" exhibition area gathered nearly 80 Chinese and foreign enterprises, showcasing how technological innovation promotes the transformation and upgrading of traditional industries.

People learn about a lightweight aluminum autoparts integrated solution at the booth of CITIC Group in the Advanced Manufacturing Chain exhibition area of the second China International Supply Chain Expo in Beijing, capital of China, Nov. 27, 2024. [Photo/Xinhua]

Companies are leveraging advanced technologies to empower traditional sectors and drive manufacturing toward intelligent and environmentally sustainable solutions.

The expo also saw the launch of the 2024 Global Supply Chain Promotion Report and two new indices — the Global Supply Chain Connectivity Index and the Global Supply Chain Promotion Index. These metrics aim to offer a clearer understanding of global supply chain trends and risks, enabling governments and businesses to navigate the ever-changing supply chain landscape more effectively.

Beyond serving as a platform for international business cooperation, this year's expo has energized global supply chain innovation. As collaboration deepens in the coming years, the expo is expected to strengthen participating companies' roles in global supply chains while advancing sustainable economic development worldwide.