New opportunities under mutual trust and cooperation

Editor's note: Liu Chunsheng, a special commentator on current affairs for CGTN, is an associate professor at the Beijing-based Central University of Finance and Economics. The article reflects the author's opinion, and not necessarily the views of CGTN.

Against the backdrop of global economic turbulence, declining investment, and sluggish trade, the China Council for the Promotion of International Trade (CCPIT) is hosting the grand Global Trade and Investment Promotion Summit in Beijing on May 13, 2024. It reflects China's responsibility and commitment as the world's second-largest economy and provides an important platform for the international community to strengthen mutual trust, deepen cooperation, and seek common development.

The summit will offer businesses from various countries a valuable opportunity for in-depth exchange, experience sharing, and discussion on cooperation. In the current global economic situation, countries are facing challenges of varying degrees, and how to address these challenges through cooperation has become a focal point for the global business community.

The summit will help businesses from different countries to enhance communication, increase understanding, and reach a consensus, injecting new momentum into the revival and development of the global economy. Moreover, the summit is a significant move by China to actively participate in global economic governance and promote the construction of an open world economy.

As the world's second-largest economy, China plays a pivotal role in the global economy. By hosting this summit, China not only demonstrates its attitude of openness, inclusiveness, and cooperation to the world but also actively advocates for multilateralism and free trade, contributing Chinese wisdom and solutions to the construction of an open world economy.

The summit provides a platform for businesses from various countries to showcase their strengths and seek cooperation opportunities. By attending the summit, businesses can understand the market demands, policies, and regulations of other countries, find suitable partners and projects, and promote the development of bilateral or multilateral trade and investment.

The summit also plays a vital role in improving international trade rules. In the context of globalization, the continuous improvement of international trade rules is significant for promoting trade liberalization and facilitation. This summit will focus on the development and improvement of global trade rules, promoting stronger communication and consensus among countries in trade rule-making, and jointly advancing the optimization and enhancement of international trade rules.

Besides, participating in the summit can help Chinese enterprises gain insights into the market demands, policies, and regulations of other countries, find suitable investment projects and partners, and promote the development of Chinese enterprises globally.

At the summit, businesses from various countries can engage in in-depth discussions and exchanges on trade and investment cooperation, collectively promoting the development of trade and investment cooperation. This increases the economic ties and cooperation between China and other countries and promotes the recovery and development of the global economy.

In the current complex and ever-changing global economic environment, ensuring the smooth operation of the supply chains is crucial for countries and the global economy alike. The summit will focus on the latest development trends and challenges of the global supply chains.

Through in-depth discussions and exchanges, businesses from various countries will jointly analyze the challenges global supply chains are facing today, such as technological changes, geopolitical risks, and resource shortages. They will explore the deep-rooted causes behind these challenges and seek potential solutions.

Moreover, the summit will promote policy coordination and cooperation among countries regarding supply chains. Given the current issues facing global supply chains, governments and enterprises from various countries need to jointly develop and implement a series of policy measures. The summit provides a huge platform for countries to engage in discussions and explorations of these policy measures, finding common ground and areas for cooperation.

The summit will enhance technical research, development, and innovative cooperation among countries in the area of supply chains. Technological innovation is a vital driver for the upgrading and development of supply chains.

Through the summit, countries can share the latest achievements and experiences in technical research, development, and innovation, strengthening technological cooperation and exchanges in fields such as artificial intelligence, the Internet of Things, and big data. This not only promotes the upgrading and development of global supply chains but also brings new economic growth points and job opportunities to countries.

Additionally, the summit will strengthen the construction of risk warning and response mechanisms for countries regarding supply chains. In the complex and ever-changing global economic environment, countries need to enhance the construction of risk warning and response mechanisms for supply chains.

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