SDIC makes record purchasing deals at 6th CIIE

State Development and Investment Corp, known as SDIC, made a record amount of purchases during the ongoing 6th China International Import Expo (CIIE) held in Shanghai on Monday.

The company signed procurement intent agreements worth almost $1.06 billion with 18 countries and regions, covering critical areas such as textile raw materials, grains, oil and minerals, it said.

Among these agreements, the grain procurement amounts to $547 million, accounting for 51.8 percent of the overall contract amount. The procurement of oil-related products amounts to $275 million, representing 26.0 percent of the total contract amount, followed by textile raw materials that makes up 9.9 percent of the total contract amount, it said.

Since participating in the first CIIE in 2018, the company saw its accumulated procurement amount reaching more than $5.57 billion with 61 partners during the past six years, said Du Wenmin, vice general manager of SDIC.

CIIE has been serving as an opportunity to promote exchange and cooperation, leading to mutual cooperation and mutual benefit, he said.