China defends supply chain role amid Strait of Hormuz crisis
On Monday, in Beijing, the fourth China International Supply Chain Expo (CISCE) kicked off with Vice-Premier Ding Xuexiang emphasizing China's integral role in global supply chains. He rejected Western accusations about overcapacity and protectionist practices, arguing that China's manufacturing success stems from reform, a solid industrial base, and a vast market, not government support. Ding also called for a more open global energy market and criticized some countries for using export controls that hinder China's imports. He pointed out that China doesn't aim for a trade surplus and positions itself as a supporter of global supply chains, citing its efforts to stabilize energy and fertilizer markets during the Strait of Hormuz crisis.
Key facts
- Vice-Premier Ding Xuexiang spoke at the fourth China International Supply Chain Expo (CISCE) in Beijing on Monday.
- Ding rejected the 'China shock' narrative used to justify protectionist measures.
- He called for an open global energy market.
- Ding stated China's manufacturing success is due to reform, industrial base, and market, not subsidies.
- He criticized certain countries for abusing export controls that hinder China's imports.
- Ding said China never actively pursues a trade surplus.
- He cited China's role in stabilizing energy and fertilizer markets during the Strait of Hormuz crisis.
- Ding described China as a participant, builder, and defender of global supply chains.
Entities
Institutions
- China International Supply Chain Expo (CISCE)
Locations
- Beijing
- China
- Strait of Hormuz