On November 13th, the 2022 Business 20 (B20) Summit of the G20 countries with the theme “strengthening innovation, inclusive and collaborative growth” opened in Bali, Indonesia for a two-day conference. Xiang Guangda, the Chairman of the Board of Tsingshan Industrial, was invited to attend the meeting.

During the group discussion from 1:00 pm to 2:30 pm, which focused on the topic of “supply chain interruptions highlighting the fragility of the global value chain and the need for diversified supply chain choices,” Xiang Guangda answered questions from the host. When asked about “how to establish a more resilient global supply chain,” Chairman Xiang answered that international trade was not easy to establish and should continue to be maintained rather than be disrupted. The stable supply chain system established over the past few decades would be a significant challenge for companies if there were uncertain factors in a short period. Therefore, given that the global allocation of resources is the most efficient, countries must establish long-term strategic resource cooperation on the premise of mutual trust.

As an essential complementary activity of the G20 mechanism, the B20 Summit is a vital platform for business participation in global economic governance and promoting world economic growth. Some G20 leaders, over 1,000 senior business people, and opinion leaders participated in the summit, discussing issues such as sustainable development of resources, reducing carbon emissions, promoting economic development through technological innovation, and energy reform.

The 2022 B20 Summit will close on the 14th. According to the current schedule, Canadian Prime Minister Trudeau, Australian Prime Minister Albanese, Indonesian President Joko, the current rotating chair of the G20 Summit, and Indian Prime Minister Modi, the next rotating chair, will deliver speeches.