Shanghai's first CIIE deal inked at 9am – worth US$700 million
Shanghai's first CIIE deal inked
Shanghai's first deal at the 4th China International Import Expo was sealed around 9am on Friday and involved a procurement order worth US$700 million.
The first order of the Shanghai trading group at the expo was signed between Yundu (Shanghai) Science and Technology Co Ltd based in Qingpu District and exhibitor Hong Kong Xingyun Logistics Trading Limited. It involves smart household products.
The two sides will collaborate to integrate their brand and resource advantages and explore a bigger market under the agreement.
The Qingpu company located in West Hongqiao Business District is a global commodity service provider and the Hong Kong company, a third-time participant at the expo, provides digital supply chain service solutions for commodities across the globe.
"The two sides will partner in the promotion of digital and high-tech products to satisfy the demand of consumers via the big CIIE platform," said Yu Ling, deputy director of Shanghai Commission of Commerce's foreign trade development department.
"It comes as no surprise that the first order sealed involved the consumer goods sector which has had big trade volumes at past CIIEs," Yu said.
