CRRC exemplifies two-way opening-up at CIIE

China's major train manufacturer CRRC Corporation Limited plans to finalize agreements with 18 overseas suppliers from Germany, Spain, Switzerland and Japan at the 8th China International Import Expo, said the company's vice-president Lin Cunzeng on Thursday.

The agreements will be signed by CRRC's 10 subsidiaries, with a combined value expected to top 100 million yuan ($14 million).

The company has sent a delegation of 210 procurement experts and technology professionals to this year's CIIE, a record high.

As a consistent participant in the past seven editions, CRRC has sealed import contracts and agreements with international suppliers from 20 countries and regions, covering products such as wheels, bearings, metal raw materials, low-voltage electrical devices, and integrated circuits for rail transit equipment. The company has also forged long-term cooperation partnerships with well-established multinational companies such as German industrial conglomerate Siemens and Swedish bearings maker SKF.

"While a large number of Chinese companies are making their overseas reach, many international companies are willing to enter China, as they cherish the opportunities churned out here. It is by combining independent innovation and open cooperation that development can be sustained. The CIIE has provided such a platform which is conducive to a complete, resilient and competitive industrial chain," he said.