UK and Chinese business leaders have met in London ahead of the CISCE, the world’s only national exhibition on supply chains.
CGTN’s Siobhan McCall reports.
#UK #China #SupplyChain
CGTN’s Siobhan McCall reports.
#UK #China #SupplyChain
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NewsTranscript
00:00An opportunity for collaboration and innovation.
00:04UK and Chinese business leaders meet in London ahead of the CISCE,
00:10the world's only national exhibition on supply chains.
00:14Hosted by the China Council for the Promotion of International Trade
00:18and the China-Britain Business Council,
00:20the roadshow was an opportunity for businesses to foster cross-border relationships
00:25and build on the warming trade ties between the UK and China.
00:30Our partnership is pivotal for the deeper integration
00:35and open development of the world economy.
00:38Global supply chains allow organisations to produce parts of their goods and services
00:43in different locations.
00:45They link markets and help keep costs lower.
00:49But as tariffs from the United States, disruption to Red Sea shipping routes
00:53and climate change threaten existing networks,
00:57businesses are starting to rethink their strategies.
01:00And we need to focus on the 85% of global trade
01:06that is not affected by the tariffs that will be put up around a certain economy,
01:13doing it and others serious damage.
01:17This year's CISCE will focus on six chains,
01:21including clean energy, digital technology and artificial intelligence.
01:26AI will be global supply chains.
01:29If you look at the way you can, where's your stock, you're going to be able to find that.
01:32How can you monitor it?
01:34Every single aspect of the supply chain will be built on blockchain AI facilities.
01:40Whoever doesn't adapt to that will be lost.
01:42The roadshow was also a chance for British business leaders
01:45who have worked in China to share their experience.
01:48It's now increasingly competitive.
01:51Local Chinese businesses are stronger.
01:54And it's not so easy for foreign firms to do business and succeed there.
02:01But as it becomes more sophisticated and more advanced,
02:04there are so many more opportunities.
02:07The CISCE only started in 2023,
02:10but it's already attracted some of the world's top international businesses,
02:14including Apple and HSBC.
02:17The 2024 Expo attracted 200,000 visitors
02:21and more than 600 businesses from 69 countries.
02:24And it's hoped that the third edition in July will be the biggest and best yet.
02:29Siobhan McCall, CGTN, London.