The Romantic Era of Processing Trade is Over | Focus on China's Open Economic Development Forum Held

On the morning of December 17th, as the heaviest supporting activity of the 12th Canadian International Fair, the China Open Economy Development Forum was held at the exhibition.

The forum was jointly hosted by the secretariat of the China International Fair for Trade and Development and the China (Shenzhen) Institute of Comprehensive Development, with the theme of "The Development Direction of China's Processing Trade under the 'Double Circulation' New Pattern". Famous domestic scholars and experts were invited to gather in Dongguan to provide constructive opinions and decision-making references for the innovative development of processing trade under the new situation.

Since 2020, under the superposition effect of the COVID-19 and the rise of trade protectionism, the global economy has fallen into the worst recession since the Great Depression, the global supply chain and value chain have been greatly impacted, and the global import and export trade is at a low level. Against this background, this thematic forum emerged as the times require. This forum will promote processing trade enterprises to have a deeper understanding of the new international situation, deeply explore new concepts and new paths for building a new pattern of comprehensive opening up, and promote enterprises to work together to address international challenges and integrate into national development strategies.

At the forum, Zhang Yansheng, Secretary General of the Academic Committee of the National Development and Reform Commission and Chief Researcher of the China Center for International Economic Exchanges, analyzed and discussed the direction of processing trade transformation in the context of the new trade situation. Zhang Yansheng believes that the current economic situation is still complex and severe, with great instability and uncertainty. In particular, the COVID-19 has impacted the global supply chain, and the external environment will play a crucial role in the development direction of processing trade.

Lu Hongyan, Deputy Director of the Global Supply Chain Research Institute of the Research Institute of the Ministry of Commerce, is mainly engaged in research in the fields of domestic trade circulation, service economy, modern supply chain, and often participates in the drafting of national documents on domestic trade circulation and supply chain innovation. At the forum, Lu Hongyan delivered a keynote speech on "Changes in China's Position and Advantages in the Global Supply Chain and Development of Processing Trade".

"Expanding domestic demand does not mean abandoning foreign trade, and forming a large domestic market does not mean abandoning international competition. China is still actively promoting the formation of a new opening situation driven by both factor mobility and institutional openness," said Qu Jian, Vice President of the China (Shenzhen) Institute of Comprehensive Development and Research. At the forum, he discussed the strategic transformation of the new development pattern and the transformation and upgrading of processing trade under the theme of "Internal and external dual linkage, accumulating new momentum for the development of processing trade".

Over the past decade, China has been striving to promote the transformation and upgrading of processing trade. Foreign trade enterprises have actively cultivated new competitive advantages in many aspects, such as quality, service, technology, brand, standards, marketing, and talent. At the forum, Fan Congming, a representative of the company and chairman of Shenzhen Hua'an Taike Technology Co., Ltd., shared how the company adjusted its global layout and development strategy under the new development situation, as well as its experience in independent research and development, brand building, and industrial chain upgrading.