Sinomach seeking more partners and suppliers

State-owned company confident it can leverage the China International Import Expo as a platform to restructure its business.

Chairman of Sinomach Ren Hongbin speaks at a contract signing ceremony in Shanghai on Tuesday. 

China National Machinery Industry Corp Ltd (Sinomach), one of the leading state-owned equipment industrial groups, is confident it can use the China International Import Expo as a platform to restructure its business and bring high quality and goods to the domestic market. 

Ren Hongbin, its chairman, said the company has been focusing on import and export businesses and through the CIIE, it hopes to seek more potential partners and suppliers to expand its import portfolio. 

The company's trade services director, Wang Yuqi said during an interview at the CIIE that it was striving to maintain the current free trade system and participating in the expo is showcasing its ongoing efforts to restructure its own business as well as seeking appropriate partners for the supply chain. 

Sinomach Automobile Co Ltd general manager Xia Wendi told Shanghai Daily on Wednesday that ongoing trade disputes would not impacting the sentiment in the automobile industry as auto industries i are hoping to bring down barriers and join together to find alternative solutions. 

The company signed contracts for 21 deals totaling 50 billion yuan (US$8.4 billion) ranging from equipment, financial services, automobile import trade to agricultural products at the expo. 

Sinomach invited foreign exhibitors to CIIE including those from Germany, Switzerland, Japan and Spain and it also hosted meetings to connect exhibitors and buyers from the high-end intelligent equipment exhibition sector. 

It also signed cooperation deals to export its technology such as cocoa processing technologies and services for the Ghana Cocoa Board as the company responds to President Xi Jinping's call to deepen China-Africa collaboration. 

Sinomach's subsidiaries include SUMEC Group Corp, China Hi-Tech, China Machinery Engineering Corp, China CAMC Engineering Co, China CAMC Engineering Co and China National Machine Tool Corp, and all these subsidiaries signed service or technology partnership deals with overseas partners. 

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