Shanghai Kingfa Science and Technology Co Ltd, based in the city's Qingpu district, signed the first deal of Shanghai's delegation at the ninth China International Import Expo on Thursday, the opening day of the event. The purchase order is worth more than $100 million.
The leading advanced materials company inked the deal with South Korean exhibitor E1 Corporation. The materials will be processed into products for sectors including artificial intelligence, new energy vehicles, electronics, and smart home appliances.
Feng Zhongjie, the company's deputy general manager, said that the order also marked the start of a long-term strategic cooperation between the two sides, which will further improve the resilience and stability of the company's global supply chain.
"The CIIE offers a premier platform and favorable policies to help us build more global partnerships and reduce costs, which eventually benefits our overseas expansion," said Feng.
Qingpu district, home to the CIIE's permanent venue, has now secured the city's first deal at all nine editions of the expo. As the event has grown, the district has worked to improve its business environment and attract companies from around the world.
Guo Na, head of marketing at Woolrich China, noted that Shanghai is one of the top destinations for international brands entering the Chinese market, based on the strong support from a large consumer base across the Yangtze River Delta region with high-end lifestyles. The United States-based outdoor and wool clothing brand entered China last year. It is exhibiting at the CIIE for the first time as it looks to expand its presence in the market.
"Qingpu boasts a combined advantage brought by the CIIE, the Hongqiao transportation hub and many other favorable policies targeting cross-border e-commerce. For high-end lifestyle brands, it greatly facilitates our future plans from showcase at the expo to extensive market expansions," said Guo.
Bakery and pastry brand Ganso established a regional headquarters in Qingpu in 2003. Another first-time CIIE exhibitor, the company hopes to connect with global partners and bring traditional Chinese flavors to international audiences, said Vivian Wang, head of marketing at Ganso.
"We really appreciate Qingpu's solid support with favorable policies, and their comprehensive efforts to help us grow both at and beyond the CIIE. We will also have a major signing of a memorandum of understanding (MoU) with a global dairy giant during the expo," said Wang.
