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Industrial chain sharpens China's edge

Datetime: 2023-03-13 18:19:09

Comprehensive services stabilize global markets, give MNCs many opportunities

Electric vehicle maker Tesla Inc took 12 years to produce its first one million vehicles. But, from the 3-million mark to 4 million, the US carmaker took just seven months, a milestone achieved on March 2 on the back of tremendous contributions from its Gigafactory in Shanghai, which produced over 710,000 EVs last year.

The Shanghai plant also accounted for more than half of Tesla's 1.3 million vehicles sold globally last year — a testament to the country's extremely strong supply and industrial chains.

These chains also explain why Chinese consumers are able to buy the latest iPhone models of Apple Inc within hours of their launch via China's famed online delivery platforms, in contrast to dayslong waits of buyers in other countries. Some 90 percent of such Apple products are made in China.

China's supply and industrial chains offer comprehensive services from raw material supply, component production, distribution, assembly, processing and logistics to final delivery to consumers, experts said. And the global industrial chain is much better for that fact.

Despite global economic downturn and US sanctions, China has made it clear that any attempts to sever supply chains will harm the world, and the country will continue to play an important and positive role in stabilizing global industrial chains.

According to the latest Government Work Report, the country will accelerate the modernization of its industrial system, with focus on key industrial chains in the manufacturing sector. Pooling of quality resources and concerted efforts for breakthroughs in core technologies in key fields will mark the drive.

On the sidelines of the two sessions, the annual sittings of China's top legislature and top political advisory body, Jin Zhuanglong, minister of industry and information technology, said that the country will ramp up efforts to stabilize industrial growth and speed up the building of a modern industrial system.

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