UK, Chinese business leaders meet ahead of CISCE

CGTN Europe

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

Transcript

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.

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