Intended procurement orders worth $2.86 billion were signed by the Shanghai trade group's State-owned assets subgroup on Saturday during the ongoing ninth China International Import Expo.
"The China International Import Expo offers an important platform for countries and regions around the world to share the opportunities of Chinese-style modernization, further opening-up, and mutually beneficial cooperation," He Qing, vice-mayor of Shanghai, said during the Shanghai local State-owned assets procurement signing ceremony, which also hosted a symposium on Shanghai State-owned assets and SOE innovation and open cooperation.
With technology globalization an irreversible trend, Shanghai's State-owned assets and State-owned enterprises are called to work together in building an open, inclusive, and vibrant global innovation ecosystem, he said.
"The 137 orders placed cover key areas, including commodities, medical devices, and agricultural products, reflecting improvements in both procurement quality and transaction value," Zhou Xiaoquan, director of the Shanghai State-owned Assets Supervision and Administration Commission, said.
According to Zhou, backed by solid infrastructure, transportation, and reception capacity, the extended effect of the CIIE will carry on after the event through integration with the city's cultural, commercial, tourism, sports, and exhibition resources.
The Shanghai State-owned assets event also witnessed 11 enterprises sign 17 projects involving a combined value of about $1.53 billion. The projects are expected to effectively promote collaboration between Shanghai's State-owned enterprises and foreign investors in areas including commodities, biomedicine, fashion consumer goods, and service trade.
