The first procurement order at the 7th China International Import Expo, or CIIE, which runs in Shanghai from Tuesday through to Sunday, was placed on Tuesday by the Shanghai trading delegation, according to official sources.
The deal, worth $50 million, was sealed by electromechanical technology company Shanghai Hiwinny and Hiwin GmbH. It is hoped it will effectively enhance the core competitiveness of Shanghai Hiwinny in semiconductors, automobiles, 3C among others, and expand Hiwin's market share in China with stronger brand influence, according to the Shanghai Municipal Commission of Commerce.
This is the seventh year in a row the first order of the Shanghai trading delegation was reached on the first day of the CIIE, by companies in the Qingpu district. In previous years, the district's first orders amounted to a value of $2.18 billion, highlighting the district's importance in international procurement by offering a stage for global enterprises to enter the Chinese market.
