China crucial to global supply chain landscape: AmCham China Chief

China plays an indispensable role in the global supply chain landscape due to its advanced manufacturing abilities and the consistently punctual delivery of its producers, said head of the American Chamber of Commerce in China (AmCham China).

Michael Hart, AmCham president, has been attending the ongoing second China International Supply Chain Expo (CISCE), which opened on Tuesday in Beijing.

Themed "Connecting the World for a Shared Future", the five-day expo is the first national-level expo with a focus on promoting international cooperation in industrial and supply chains.

In an interview with China Global Television Network (CGTN) at the event, Hart emphasized the global significance of Chinese production capacity.

"One of the reasons that China has such a strong supply chain is because they've done things like sourcing raw materials to come into China, where there are now very good and advanced and deep manufacturing base and products can be produced and then they can be shipped out as well. So it's the whole, literally, supply chain, so everything from raw materials to production to shipping. And China has been known for producing at a good cost, high quality and on time. And so that's why China has become really important for the global supply chain," he said.

AmCham China represents American business in China. Its membership comprises more than 800 companies and 1,900 representatives. Hart recalled that during the COVID-19 pandemic, the chamber was instrumental in drawing attention to the need to ensure supply chains stay open, reminding people how interconnected the world has become.

A number of AmCham member companies have strengthened their cooperation with their partners and suppliers at the expo, said Hart, adding that China has been an important partner of American companies for decades.

"And so China is deep supply chain, deep sourcing, deep manufacturing, which was built up by foreign investment as well as China innovation. This allows companies to really be the best in the world as China's been an important part of the story for American companies for decades. But this supply chain conference brings home the real special part that China has in sourcing and production," the chamber president said.

Meanwhile, he stressed, competition and cooperation between U.S. and Chinese companies will continue in the current complex geopolitical situation.

"If we look back over the last 40 years, business has been really important to keep US and China connected and together, actually, I like to compete and to cooperate. And so we think competition makes us the best. And so what you see now is U.S. companies saying they need to be in China for certain sectors because for example, in EVs, China leads the market. And so they need to be here to understand their competitors and to make sure they can compete with them. So the U.S. and China have competed and cooperated for a long time in business and trade, and I think that will continue," Hart said.

China crucial to global supply chain landscape: AmCham China Chief

Spanish students have expressed their expectation that a healthy China-U.S. economic and trade relationship will inject greater stability into the global economy and create greater opportunities for Spain.

On Sunday, Chinese and U.S. delegations convened in Paris, France for talks on economic and trade issues. Guided by the consensus reached by the two heads of state in Busan and their subsequent phone talks, the two sides will conduct consultations on economic and trade matters of mutual concern.

Ahead of the talks, members of the public in Madrid, Spain, shared their views on China–U.S. economic and trade relations with China Media Group (CMG). They agreed that reaching an agreement between the world’s two largest economies would have a direct impact on the global landscape.

"They are the two countries that contribute the most economically, in a manner of speaking, to the rest of the countries. They are major importers and exporters. So I think that a satisfactory relationship between them can be very beneficial for all other countries," said Claudia, an engineering student.

Noting that both sides are important trading partners of Spain, the interviewees stated that a healthy, stable and sustainable China-U.S. economic and trade relationship also affects various aspects of the Spanish society, and that agreements between the two countries would help promote Spain's economic growth.

"I do think that it could have a certain effect on the Spanish economy, both in terms of prices, and I would dare say employment as well. Because I think that if those two great powers reach an agreement, Spain could also get in on the action. It would create quite a few jobs in Chinese and American multinationals for all Spaniards," said Claudia.

"Spain is caught in the middle; it has good relations with both the U.S. and China. If it gets on the bad side of either one, it could be hit hard, because Spain mainly relies on tourism -- well, other things too, but essentially tourism, construction and agriculture. It's very important to have more help and trade with all countries around the world," said Denis, a law student.

Spanish students say stable China-US ties benefit global economy