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SPIC Secures Deals Worth RMB 18.5bn at CIIE

500,000 tons of manganese ore, renewable energy, electric power and electrical equipment worth more than RMB 12 billion ($1.7 billion), components and parts worth RMB 45 million, RMB 50 million pipeline procurement agreement…SPIC secured a number of big deals with an array of partners around the world at the first China International Import Expo (CIIE), which was held in Shanghai from November 5-10. SPIC signed import procurement agreements totaling a value of RMB 18.5 billion across a range of sectors, including materials prepared for project commissioning, future mine construction, services for major national projects and purchasing of high-quality consumable items.

 

 

At the first CIIE, Chinese President Xi Jinping put forward the proposal on pursuing inclusive development for the benefit of all, and pinpointed the right direction and path for promoting openness and cooperation and jointly building a better world for all. As a responsible central SOE, SPIC will resolutely implement the national strategic deployment, take initiative to embrace open economy and assist in high-level opening-up.

 

At the expo, SPIC participated in the central SOE trade forum actively, sponsored two enterprise-themed signing ceremonies to expand high-end imports comprehensively, and organized nine of its subsidiaries to sign contracts and agreements with 14 well-known international enterprises from Russia, Germany, France, US, Italy, Japan, etc. successively. Among all the procurement agreements signed, procurement contents cover nuclear power, gas turbine, coal, manganese ore, advisory services, mining equipment, pipelines, etc., and those involving advanced technology and equipment import accounted for over 80 percent of total procurement amount. The CIIE provided powerful guarantee for SPIC in making overall planning of going global and attracting foreign investment, and boosting industry, product and service optimization, transformation and upgrading.

 

 

Just as President Xi pointed out, "Chinese economy is not a pond, but an ocean." The CIIE is China's major initiative to pursue a new round of high-level opening-up and still widen market access to the rest of the world, and also a vivid miniature of China deepening reform and broadening opening-up in the new era. SPIC, aimed at building a world-class clean energy enterprise with global competitiveness, will seriously study and implement the spirit of Xi's keynote speech at CIIE, grasp the essential characteristics of economic development in the new era, take the opportunity of this expo to steadily promote imports of high-end equipment, materials, etc., strengthen cooperation with advanced technology suppliers from around the world, proactively integrate into and contribute to the construction of economic globalization in the new era, and let the world share the development results with China and march into a more prosperous future together.

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