Frank Ning, Chairman of Sinochem Holdings, attended the third virtual plenary meeting of the APEC Business Advisory Council (ABAC) on August 3 in his capacity as Chair of Sustainability Working Group (SWG). Over 110 ABAC members from 21 APEC economies attended the meeting.

Ning introduced that the three task forces of SWG proceeded steadily since the first plenary meeting at the beginning of the year. Seven meetings have been held, and relevant results have been formed and adopted by the ABAC, including the Climate Leadership Principles for Business, Framework for Trade and Investments in Renewable Energy, and Digitally Empowered Food System.

Despite the COVID-19 pandemic and some trade protections, the total global trade volume was still increasing, and the trade between China and the US was also growing, Ning pointed out. As a whole, global supply chains are closely interconnected, and a return to the free flow of goods is to be expected.