Beijing. Chinese Premier Li Qiang said on Tuesday that China opposes protectionism and wants to strengthen supply chains with all countries, warning of the risks of disintegration to the global economy.
Li’s comments come in the context of calls last year by the United States and the European Union to reduce their dependence on China in certain sectors and reduce risks in their supply chains, as well as efforts to exclude Chinese companies for some advanced semiconductors.
“We are willing to establish closer industrial production and supply chain partnerships with all countries,” Li said at the first China International Supply Chain Exhibition (CISCE), adding that the international community should be “more careful in the face of challenges and challenges.” The risks posed by protectionism and uncontrolled globalization.
The Chinese Prime Minister warned that “the global economy faces the risk of fragmentation.”
He added that history and reality have proven that the entire world will benefit when cooperation in global industrial and supply chains is stable and continues to deepen. Otherwise, the entire world will suffer losses if cooperation in global supply chains is hindered and stagnant.
In this context, he stressed that China is ready to work with all parties to make global industrial and supply chains more flexible, efficient and dynamic, and make more contributions to promoting economic recovery, development and global prosperity.
On the same day, Chinese President Xi Jinping ordered greater protection for foreign companies and intellectual property rights, state media reported.
Many US and European companies with operations in China have noted that the environment for doing business is more complex than ever and that trust is lower due to geopolitical issues, the new counterintelligence law, and the government’s preferential treatment of local competitors.
