China National Machinery Industry Corporation, or Sinomach, has signed 19 purchase agreements with a total contract worth $2.03 billion during the fifth China International Import Expo (CIIE) in Shanghai, the company announced on Sunday.
Sinomach has signed contracts with 19 cooperative partners from across the globe, including Japan's Marubeni Techno-Systems Corporation and Germany's Rolls-Royce Power System AG, with purchasing categories covering technology and equipment, bulk commodities, green energy conservation and other manufacturing-related businesses, the Beijing-headquartered State-owned enterprise said in a statement.
This is the fifth year the group has participated in the CIIE, with an accumulated purchase amount reaching nearly $17 billion in 61 big-ticket deals over the past four CIIEs, the company said.
Thanks to the joint efforts of both Sinomach and its partners, a number of signed agreements have been effectively implemented. They have not only achieved win-win results for both sides, but also promoted the energy reform of domestic companies from manufacturing sector, boosted the transformation and upgrading of related industries, and ensured the stability of industrial and supply chains in China, said the statement.