By Wu Siya

 

BEIJING, Nov. 26 (China Economic Net) –On November 26, the first day of 2nd China International Supply Chain Expo (CISCE), the 2024 Global Supply Chain Promotion Report, the Global Supply Chain Promotion Index and the Global Supply Chain Connectivity Index were officially released at a press conference hosted by the China Council for the Promotion of International Trade (CCPIT).

 

 

It is reported that from 2018 to 2023, the level of global supply chain promotion has increased significantly, with the promotion index rising from 0.27 to 0.66, an increase of 144%, indicating that the level of global supply chain promotion is on the rise, as well as the development environment of the global supply chain is generally improving. 

 

 

The 2024 Report consists of 1 general report and 6 sub-reports, namely humanoid robots, smart cars, integrated circuits, wind power generation, coffee, cotton, all of which uses the global supply chain promotion analysis model to comprehensively sort out and summarize the latest trends in the development of the global supply chain, mainly including five aspects.

 

According to the Report, the Promotion Index is the world’s first comprehensive index that quantitatively assesses the level of global supply chain promotion. It has five first-level indicators, including infrastructure connectivity, multilateral and bilateral rules, policies of major economies, technological upgrading and innovation, and financial service guarantees.

 

The annual increase in the level of global supply chain promotion is mainly due to the substantial increase in infrastructure connectivity, followed by the contribution of technological upgrading and innovation, and the contribution of multilateral and bilateral rules ranks third. The contribution rates of the three to the increase in the index are 66.67%, 41.03% and 17.95% respectively.

 

 

“The connectivity index is the world’s first comprehensive index that comprehensively measures the degree of global supply chain connectivity,” Zhao Ping, President of Academy of China Council for the Promotion of International Trade (CCPIT), introduced.  It comprehensively considers the connection logic of the global supply chain upstream, midstream and downstream, the internal elements throughout the entire supply chain, as well as the external factors that affect the supply chain connection.

 

The study found that from 2014 to 2023, the connectivity index showed a fluctuating upward trend, rising from 0.271 to 0.732, an increase of 170%, reaching a historical high. The increase in the level of global supply chain connectivity is mainly due to the substantial increase in the connectivity of internal elements of the supply chain, followed by the contribution of the connectivity of supply chain development environment factors, and then the contribution of the connectivity of the upstream, midstream and downstream of the supply chain. The contribution rates of the three to the increase in the connectivity index are 56.09%, 37.61% and 6.30% respectively.

 

The one report and two indexes respectively interpret the latest trends in global supply chain promotion, as well as the current status of global supply chain connectivity and the deep-seated reasons behind it. The overall upward trend of the promotion index and the connectivity index is very obvious, indicating that the development environment of the global supply chain is generally stable, the promoting factors have always been in the mainstream position, and the global supply chain itself has an endogenous driving force towards connectivity.

 

“Trade wars and protectionist values are what we all must oppose. Today, artificial intelligence, big data, and the Internet are rapidly changing the way the world we live in works. Opportunities are opening up to all of us, and we are seizing these opportunities. By collaborating with CCPIT, we are opening up channels with 54 African countries to benefit Africa and the world by upgrading value chains and supply chains,” told Dr. Alaa Ezz, Secretary General of Union of African Chambers of Commerce.

 

“Even with external shocks such as the COVID-19 pandemic, natural disasters, geopolitical conflicts, and the policies of decoupling, unilateralism, protectionism, and anti-globalization adopted by some countries in certain historical periods, their negative impacts on global supply chain connectivity are short-lived and limited, which fully demonstrates that global supply chain connectivity is an irresistible trend and economic globalization is what people want,” Zhao emphasized.