Yu Jianlong, vice chairman of the China Council for the Promotion of International Trade Photo: Website of the State Council Information Office

The 3rd China International Supply Chain Expo (CISCE) is scheduled to be held in Beijing from July 16-20, with participation already beating expectations, an official said at a press briefing on the expo on Tuesday.

Over 650 Chinese and foreign enterprises and institutions will participate in the expo, including companies and institutions from 75 countries and regions. Fortune Global 500 companies and leading enterprises in various industries account for over 65 percent of all the participants, said Yu Jianlong, a vice chairman of the China Council for the Promotion of International Trade (CCPIT).

It's worth noting that overseas exhibitors make up 35 percent of the total, with those from the US and the EU comprising 50 percent of all overseas participants. The number of US exhibitors has increased by 15 percent compared with last year, and 60 percent of these US exhibitors are Fortune Global 500 companies, Yu said.

Global artificial intelligent giant Nvidia will debut at expo, setting up an exhibition, he said.

"Against the backdrop of a complex and turbulent international situation and economic globalization encountering headwinds, the gathering of so many friends from across the globe - particularly business leaders and entrepreneurs worldwide - at the CISCE is not only a vote of confidence in the expo itself but also a vote of confidence in China's economic development," Yu said.

In response to a question about foreign businesses and chambers of commerce and international organizations' view on the cooperation prospect with China in industrial and supply chains under the current situation, Yu said the "chain" in the CISCE is not about "decoupling", but about connecting the world and jointly create future "chains."

"The expo shows not only the global business community's unwavering commitment to upholding the smooth operation of industrial and supply chains but also an industrial ecosystem where global supply chains are deeply integrated and enterprises worldwide thrive through mutual success," the official said.

Yu further noted that Tesla's Shanghai gigafactory showcased its Chinese suppliers within a four-hour driving distance, Apple CEO Tim Cook has said "I value them very highly. We could not do what we do without them" when asked about his Chinese partners at last year's CISCE, and the upcoming cooperation of multinationals including Nvidia, Rio Tinto, and Charoen Pokphand with their Chinese partners. "All these exemplify that economic globalization is an objective requirement for the development of social productive forces, an inevitable outcome of sci-tech progress, and a consensus of the global business community," Yu said.

Responding to a separate question over the status quo of communications and cooperation between Chinese and US business communities, Li Xingqian, also a vice chairman of the CCPIT, said at the same conference that the foundation of China-US relations is in grassroots communications, and currently, communications and collaboration between Chinese and US business communities remain smooth, with a shared willingness to strengthening supply chain cooperation.

"At this critical juncture, business communities from the two sides are actively advancing bilateral economic and trade relations through concrete actions. We have reached a clear consensus on safeguarding the stability and smooth flow of global supply chains," Li said.

Business communities from China and the US, along with other Asia-Pacific countries, jointly oppose unilateralism and support WTO-centered multilateral trading system and boost the stability of global trade system in a recent document to APEC trade minister, Li said.

Since the beginning of this year, the CCPIT has invited and received many visits by heads of US chambers and associations and US multinationals, and invited a large number of US institutions and enterprises to attend important events such as the Global Trade and Investment Promotion Summit, and held a series of events marking two decades of fostering economic cooperation between China and the US so as to boost industrial cooperation between companies from the two sides, Li said.

The heads of US institutions, including the American Chamber of Commerce in China, US Soybean Export Council and US Grains Council, have said that China is an important market, and US companies are willing to continue invest in China - participating in China's economic growth and innovation, and grow with the Chinese market, the official said.

Economic and trade relations between China and the US are mutually beneficial and win-win in nature. Advancing win-win cooperation aligns with the common interests of both nations and the global business community. The CCPIT remains committed to leveraging platforms like the expo to foster dialogue, deepen collaboration, and create a brighter future for bilateral ties, Li said.