Global Times “Increasing participation of U.S. companies in supply chain fairs… evidence of confidence in the Chinese market”
China International Supply Expo Symposium
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(Seoul = Yonhap News) Reporter Bongseok Lee = Amid the dark clouds of a second tariff war between the United States and China ahead of U.S. President-elect Donald Trump’s inauguration in January next year, Chinese state media is drawing attention by praising some American companies, including Apple.
Chinese state-run English-language newspaper Global Times reported in a column on the 28th that American companies showed a prominent presence at the 2nd China International Supply Chain Promotion Expo (26th-30th) currently held in Beijing.
According to the China Council for the Promotion of International Trade, which hosted the event, the proportion of overseas exhibiting companies increased compared to the first event last year, with American companies accounting for the largest portion.
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In particular, the Global Times pointed out that leading American companies such as Apple and Tesla demonstrated strong cooperation with Chinese companies and emphasized the importance of China in the supply chain.
Apple, which manufactures the iPhone, brought four Chinese suppliers, including Goertec and Wito, to its booth.
A booth billboard said, “More than 80% of Apple’s 200 major suppliers manufacture in China.”
Electric car company Tesla displayed various items including Model 3, Model Y, and humanoid robots manufactured at the Shanghai Gigafactory.
Tesla told the Global Times that more than 95% of the Shanghai Gigafactory’s parts are made in China and that it has signed contracts with more than 400 local primary suppliers.
Starbucks introduced coffee supplied from Yunnan Province, southwestern China, and PC manufacturer HP introduced an innovative artificial intelligence (AI)-based PC.
Citing experts, the Global Times argued that although some U.S. politicians are pushing for decoupling, the increased participation of U.S. companies shows their firm confidence in the Chinese market.
Another state-run English-language newspaper, China Daily, separately cited the fact that Wall Street’s Morgan Stanley received approval from the Chinese authorities this year to expand its business in China, citing it as a foreign company that is passionate about investing in China.
The reports from the two state-run media outlets are reminiscent of the way corporate executives and foreign investors closely watched Chinese state-run media for clues about which American companies would be subject to sanctions during Trump’s first term, when trade tensions between the U.S. and China were heightened, Reuters reported. pointed out.
At the time, China threatened to create an ‘untrustworthy company list’ and ban American companies from importing, exporting, or investing in China, but so far the list only includes American companies that sold weapons to Taiwan.
Report via KakaoTalk okjebo
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2024/11/28 16:59 Sent
