From trader to value chain integrator: Xiamen International Trade's ASEAN supply chain upgrade path

Against the backdrop of ongoing global supply chain restructuring, the role of Chinese supply chain enterprises is undergoing profound transformation. At the Third Global Expansion Summit held in Singapore in June 2026, Xiamen ITG Group Corp., Ltd. (hereinafter referred to as "Xiamen ITG") outlined a clear roadmap for globalization: evolving from a global trader to an industrial partner, and ultimately to a value chain integrator. This strategy not only reflects the internal transformation needs of Chinese supply chain enterprises but also reveals their far-reaching impact on the regional economy of ASEAN.

From "Buying Globally, Selling Globally" to "Organizing Global Resources"

Rong Kunming, Executive Vice President of Xiamen ITG, pointed out at the summit that "future globalization is not about buying globally and selling globally; it is about organizing global resources, connecting industrial ecosystems, and creating long-term value through collaboration." This shift in positioning marks the transition of supply chain enterprises from trade intermediaries to industrial organizers. For the ASEAN region, this capability precisely meets the urgent need for manufacturing upgrades and supply chain localization.

Deepening Engagement in ASEAN: Industrial Embedment from Indonesia to Vietnam

Xiamen ITG's practice in ASEAN can be traced back to its cooperation with an Indonesian steel company in 2018. At that time, the company went beyond the traditional role of a trader, providing the Indonesian steel mill with integrated global supply chain services covering raw material procurement, logistics, and international resource allocation. This was not merely a simple transaction of goods but a deep integration of China's supply chain management expertise with Indonesia's resource endowments, helping the Indonesian steel industry improve efficiency and global competitiveness.

In Vietnam, Xiamen ITG's investment is more systematic. The company has established an integrated wood chip business in Vietnam covering local procurement, processing, warehousing, and its own wood chip vessels, achieving full value chain participation from forest to port. Wood chips are an important raw material for Vietnam's paper and fiberboard industries. Xiamen ITG's full-chain operations not only stabilize regional raw material supply but also drive the development of local processing and logistics capabilities in Vietnam. The company has become a key player in Vietnam's wood chip import market.

Singapore: A Pivot for Global Pricing Power

As a global commodity trading hub, Singapore is a critical node in Xiamen ITG's globalization layout. Its owned floating storage vessel "ITG Amoy" has been qualified to participate in the Platts fuel oil pricing window, making it the only vessel operated by a Chinese enterprise in this pricing mechanism. This breakthrough means that Xiamen ITG is no longer a passive price taker but a participant capable of influencing regional fuel oil pricing. For ASEAN, a global shipping and refining center, Chinese supply chain enterprises' involvement in pricing helps enhance regional price transparency and market efficiency.

Value Chain Integration: A Catalyst for ASEAN Supply Chain Upgrading## Value Chain Integration: A Catalyst for ASEAN Supply Chain Upgrading

Xiamen ITG's strategy of being a "value chain integrator" centers on exporting mature business models, embedding itself in local industrial ecosystems, and becoming an organizer of the global value chain. Against the backdrop of ASEAN countries generally seeking manufacturing upgrades but facing infrastructure and capital bottlenecks, this capability precisely fills the gap. For example, its practice in Uzbekistan (though not an ASEAN country, the model is replicable) shows that after a decade of deep cultivation, the company has shifted from cotton trade to supply chain services covering the entire industrial chain, strengthening local manufacturing and improving regional connectivity. A similar logic can be fully applied to ASEAN's textile, electronics, agricultural products, and other sectors.

Technology-Driven: AI Empowers Supply Chain Resilience

Xiamen ITG is advancing an AI-driven supply chain strategy, including developing an intelligent iron ore decision-making model that combines its own supply chain data with artificial intelligence to enhance market forecasting and supply chain resilience. For ASEAN countries, digital supply chain capabilities are a key weakness in the construction of a regional economic community. Technology exports from Chinese enterprises may accelerate ASEAN's transformation from labor-intensive manufacturing to smart manufacturing and enhance the region's ability to cope with global volatility in its supply chains.

Cluster Globalization and ASEAN Synergy

Rong Kunming calls for entering an era of "cluster globalization," where upstream and downstream enterprises in the industrial chain go global together through complementary capabilities and shared resources. This model is highly compatible with the industrial synergy ASEAN is pursuing—the differences among ASEAN countries in resources, manufacturing, and logistics precisely provide a basis for the division of labor within enterprise clusters. As a supply chain platform, Xiamen ITG can connect the industrial ecosystems of China and ASEAN, promoting the flow of capital, technology, and talent within the region.

Implications for ASEAN Regional Development

The case of Xiamen ITG shows that the transformation of Chinese supply chain enterprises is not a zero-sum game, but rather a deep embedding into local industries in ASEAN, making them participants in regional value creation. The direct benefits include: ASEAN countries can obtain more efficient supply chain services, enhancing their manufacturing competitiveness; intra-ASEAN trade and investment flows are accelerated due to Chinese enterprise nodes; and regional pricing power and supply chain discourse gradually strengthen. In the long run, this role as a "value chain integrator" helps deepen the construction of the ASEAN Economic Community from trade liberalization to industrial ecosystem integration.

At a time when global supply chains are shifting from efficiency priority to a balance of resilience and sustainability, Xiamen ITG's ASEAN layout provides a replicable path for the regional economy: not simply factory relocation, but deep integration based on localized operations and value chain synergy. This has reference significance for ASEAN member states in formulating policies to attract foreign investment and upgrade industries, as well as for regional enterprises seeking partners.