Supply chain expo's scale reflects participants' confidence in China's economy: spokesman

The scale of the ongoing fourth China International Supply Chain Expo (CISCE) has reflected the global business community's confidence in China's economic prospects, a Chinese Foreign Ministry spokesman said on Tuesday.

"Stable global industrial and supply chains are what underpin a healthy world economy and require collective efforts. As a responsible major country, China actively taps into its strengths of a complete industrial system and super-sized market and strives to keep the world economic network unimpeded in order to ensure that industrial and supply chains continue to function as a public good," said Guo Jiakun, the spokesman, at a press conference in Beijing.

"The CISCE is the world’s first national-level expo focused on supply chains. It provides a platform for Chinese and foreign enterprises to showcase their supply chains, ecosystems and application scenarios and serves as a bridge for seeking cooperation partners and solutions. This CISCE has attracted more than 1,200 exhibitors and participants from 85 countries, regions and international organizations, with foreign-invested exhibitors making up more than 36 percent of the total. More than 65 percent of the exhibitors are Fortune Global 500 firms and industry leaders. Their enthusiasm reflects the commitment to the mega-market China has to offer and their confidence in the prospect of the Chinese economy," Guo told reporters.

"An open China offers vast opportunities. The China International Import Expo (CIIE), China Import and Export Fair (Canton Fair), China International Supply Chain Expo, as well as the China-South Asia Expo and China-Eurasia Expo you mentioned are all examples of China’s high-standard opening up. We invite global companies to tap into the potential of China’s mega market, share in the dividends brought by China’s high-quality development and build industrial and supply chains that are truly win-win," he said.

The fourth CISCE opened in Beijing earlier Tuesday and will run through Friday.

As the world's first national-level exhibition focusing on supply chains, the CISCE is an internationally shared public good. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains.

Supply chain expo's scale reflects participants' confidence in China's economy: spokesman

Tokyo stocks tumbled on Tuesday, with the benchmark Nikkei index falling below the 70,000 mark after snapping an eight-session winning streak, as investors took profits amid concerns over an overheated market.

The 225-issue Nikkei Stock Average ended down 2,565.58 points, or 3.55 percent, from Monday at 69,788.38.

The broader Topix index, meanwhile, finished 104.67 points, or 2.56 percent, lower at 3,990.38.

On the top-tier Prime Market, nonferrous metal, electric appliance, and information and communication issues were notable decliners.

The Nikkei briefly traded higher at the open but soon reversed course as selling pressure mounted after the index had surged more than 8,100 points during its eight-session advance.

Heavyweight technology shares, particularly recent gainers such as Kioxia Holdings Corp. and Tokyo Electron, led the decline. The selloff was partly cushioned as dip-buyers stepped in.

Losses extended in the afternoon, with the Nikkei diving more than 3 percent toward the close.

Tokyo stocks slump on overheating concerns