Insights | Chinese market remains attractive to global businesses: ICC Secretary-General

By Zhao Li, Chen Tianhao

(ECNS) -- "Global enterprises see the benefit of participating in the Chinese market. The size of the Chinese market makes it always attractive," John W.H. Denton, Secretary-General of the International Chamber of Commerce (ICC), spoke with China News Network on the sidelines of the second China International Supply Chain Expo (CISCE) in Beijing on Tuesday.

As the world's first national-level expo themed around supply chains, the CISCE goes beyond merely showcasing products. It presents supply chain ecosystems and scenarios, focusing on long-term collaboration and development among upstream and downstream enterprises rather than short-term transactions. The expo fosters partnerships rather than competition.

"I think coming to an exposition in China is not just for the innovation that comes through. Innovation is jointly developed, not just in China, but with other economies or other companies. Together, we create a scalable product, which can then be used to transform supply chains," he said.

Denton expressed strong confidence in the Chinese market's ability to attract foreign investment. However, amid sluggish global economic growth, protectionism and over-securitized policies have disrupted global supply and production chains, driving up costs, reducing efficiency, and hindering shared development.

On the current global trade environment, Denton was unequivocal: "Putting impediments in the way of cross-border trade is never a good idea". Some countries, citing "national security" or "industrial policy" concerns, have implemented trade protectionism, he said. But he believes from an economic perspective, the only people hurt by this are actually consumers. He urged nations to promote trade liberalization while seeking effective methods to manage trade frictions at minimal costs.

Denton stressed that supply chains evolve in response to a constantly changing global landscape. He praised China's strides in trade digitalization and green supply chain development.

How to establish an efficiently functioning multilateral trading system, promote trade digitalization to enhance efficiency, provide financing support for small and medium-sized enterprises, and build sustainable trade supply chains—these are all areas in which the ICC is actively engaged and where deeper collaboration with the Chinese government is possible, according to Denton.

He concluded by affirming ICC's commitment to fostering global economic cooperation and voiced optimism about deeper collaboration with China to create a more open and sustainable global economy.