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Chongqing Company Signed 1.05 Billion USD Import Contracts at CIIE

By VIVIAN YANICHONGQING|Nov 11,2021

Chongqing- At the fourth China International Import Expo (CIIE), Chongqing Foreign Trade and Economic Cooperation (Group) Co., Ltd. (CFTEC) signed six contracts with world-renowned food manufacturers and mineral resource suppliers, worth 1.05 billion U.S. dollars of the cumulative contract value.

A picture of the National Exhibition and Convention Center (Shanghai). (Photo/ Xinhua)

The products are sourced from four countries and regions, including France, Switzerland, Singapore, and Hong Kong of China, involving dairy products, iron ore, srilankite, and other products.

“The CIIE serves as an international exhibition,” said the relevant person in charge of the Chongqing Municipal Commission of Commerce. “Chongqing will use this platform to actively promote further cooperations.”

Chongqing Yu-Ou Cross Border E-Commerce Ltd, a subsidiary of CFTEC, partners with Danone Nutricia, a world-famous food company, signed a 300 million U.S. dollar project to import products for earth life nutrition and infant food.

The company also signed cooperative agreements with Nestle and Wyeth (Shanghai) Trading Co., Ltd. for 100 million and 200 million U.S. dollars worth of dairy products, respectively.

People visited the 4th CIIE on November 5th. (Photo/ Xinhua)

Ming De International Holding Group Co., Ltd, another subsidiary of CFTEC, signed a memorandum with Hong Kong Global Resources Development Co., Ltd. to import zirconium and titanium ores worth 100 million U.S. dollars, continuing to strengthen their advantages in the market segments.

Meanwhile, Ming De Group also signed iron ore import agreements with Pan Asia Minerals Limited and Singapore Huimei Limited, respectively, with a total contract value of 350 million U.S. dollars. They will continue to cooperate in the extension of the industrial chain.

“We will further cooperate with other world-class enterprises for mutual benefits through the CIIE, which serves as an international platform to promote exchanges and cooperation,” said the person in charge of CFTEC.

He believes, in the future, CFTEC will continue to accelerate its openness and development while playing a leading role. For all its efforts, the company will make contributions to the development of Chongqing’s open economy.

Newly settlement of 14 enterprises

On the first day of the CIIE alone, Chongqing signed 19 trade and investment cooperation agreements, with a total planned contract value of 28.621 billion yuan (approx. 4.47 billion U.S. dollars), according to the Chongqing Municipal Commission of Commerce.

Furthermore, districts and counties of Chongqing also completed many cooperation projects through the CIIE.

For example, the Yongchuan Comprehensive Bonded Zone signed a contract with RB & Manon Business Co., Ltd. in Shanghai on behalf of the first batch of 14 enterprises that settled in the comprehensive bonded zone. The project involves bonded processing, bonded logistics, and cross-border e-commerce.

Chongqing will build an international consumption demonstration area. (iChongqing/ Vivian Yan)

(Shi Jiaqi, as an intern, also contributed to this report.)

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