Projects link SOEs with foreign investors

Huang Yixuan
Stated-owned enterprises sub-group of the Shanghai trading group agree 25 projects to promote joint ventures and cooperation in areas including AI and emerging industries. 
Huang Yixuan

The stated-owned enterprises under the Shanghai Trading Group signed 25 projects at a signing ceremony during the China International Import Expo.

Fourteen state-owned conglomerates, including SAIC, Shanghai Electric, Shenergy Group, Shanghai Rural Commercial Bank Co, Shanghai Science and Technology Venture Capital Group, agreed to promote joint ventures and cooperation between SOEs in Shanghai and foreign investors in areas such as biomedicine, artificial intelligence, advanced manufacturing, modern services and strategic emerging industries.

At the CIIE, all 43 conglomerates of the Shanghai State-owned Assets Supervision and Administration Commission system have joined in the SOE sub-group of the Shanghai Trading Group, with a total of 1,762 enterprises registered as SOE sub-group buyers, and more than 30,000 professional visitors.

The total purchase amount this year will be higher than the first CIIE, according to the commission. Buyers will cover various fields including intelligent and high-end equipment, auto parts, food and agricultural products, medical equipment and health care, and natural gas energy. 

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