Shanghai trading group signs US$100m deal

Zhenkunhang Industrial Supermarket's agreement to purchase goods from Dow Inc and Schneider Electric marks the first deal by the group at the 2nd CIIE.

Zhenkunhang Industrial Supermarket, as one of the platforms offering "6 + 365 days" trading services, signed an agreement on Tuesday to purchase US$100 million worth of goods from Dow Inc and Schneider Electric.

It was the first deal made by the Shanghai trading group at the second China International Import Expo.

Zhenkunhang is an e-commerce platform for industrial products, including maintenance, operation and repair (MRO) products. It is registered in Shanghai's Qingpu District.

The deal is mainly to buy electronic products and consumables related to intelligent manufacturing, and also some electric appliances. Among them are new products the two companies have just launched in China, as well as some regular purchasing. 

"The demand of domestic companies for high-quality imported consumables has been growing rapidly," said Zhong Yan, a representative for the buyer. "Dow and Schneider are our long-term strategic partners, and we are delighted to see them at the fair with their latest and greatest exhibits."

Dow is an industrial leader in the material science sector while Schneider is a global specialist in energy management.

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