SHANGHAI, Nov. 9, 2022 /PRNewswire/ -- At the 5th China International Import Expo (CIIE) on November 8, Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC) entered into import procurement contracts with 8 overseas suppliers at the inaugural meeting of China Construction Industry Supply Chain Cooperation and Development Alliance and the joint signing ceremony of import procurement by state-owned construction enterprises hosted by China Communications Construction Company Limited (CCCC).
During the meeting, ZPMC inked multiple contracts including:
The signing of the agreements further expands and deepens CCCC's efforts in international cooperation and the building of an overseas supply chain with producers worldwide, fully reflecting the complementary strengths of CCCC and the global resources they work with, as well as their strong alliance and mutually beneficial relationships.
ZPMC has been signing large purchase contracts through the fair for five consecutive years, adding up to over 9.3 billion yuan (approx. USD 1.362 billion) during the time period. To date, the company has nearly 100 established overseas supply partners, while the aggregate value of import procurement totaling 22.5 billion yuan (approx. USD 3.31 billion) over the same five years. This time, the value of agreements signed at the event amounted to 2.47 billion yuan, an increase of 25% over the previous year.
The CIIE is of great significance to China's determination to expand openness, with the goal of helping companies worldwide exploit the opportunities available in the Chinese market, and contribute to the accelerated recovery of the global economy given the exceptional circumstances.
