The Dream Factory of China

Over 100 professionals, scholars and officials discussed opportunities and trends regarding the current supply chain Thursday at the three-day Global Supply Chain Management Forum in Qianhai, which aims to build an international cluster of modern logistics and finance.

In the context of supply front reform and “the Belt and Road” initiative, Qianhai seeks to find a way to boost its industry and play a key role in the development of the global supply chain.

Wang Jinxia, vice director of the Qianhai Authority, said at the forum that Qianhai aims to become the center of the global supply chain. He said the area wants to make full use of its policy advantages to fulfill its potential for financial reform in such ways as developing the offshore renminbi market, and phasing out the less-ideal modes of low added value and high resource consumption.

Cheryl Farrow, president of the International Federation of Purchasing and Supply Management, said China is a large market for supply chain companies, and should be more active in collaborating with overseas suppliers and working with international institutions and intergovernmental organizations to align regional interests.

Besides the macroscopic discourses, local entrepreneurs also shared their views on the supply chain industry’s future.

Zhou Guohui, chairman of Eternal Asia Supply Chain Management Co., one of the main supply chain companies in Shenzhen, said supply chain companies need to integrate resources and turn into “eco-type enterprises” that can constantly innovate and survive in a sharing economy.

“Supply chain practitioners should know what their core competence is, and learn to outsource their non-core competence. They need to be more professional, by focusing and listening to the needs of their customers,” he said.

Scholars stressed the importance of cultivating talent and avoiding product homogeneity.

By the end of June, the added value of Shenzhen logistics industries reached 75 billion yuan (US$11 billion), up 8.76 percent from last year, according to the latest data. Logistics is one of the four pillar industries in Qianhai. By now, more than 5,000 logistics companies are operating in the area.