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Shenzhen firms make orders worth US$4.5 billion at expo

Writer: Zhang Yu  |  Editor: Zhang Chanwen  |  From: Shenzhen Daily  |  Updated: 2022-11-07

Shenzhen enterprises signed agreements of intent worth over US$4.5 billion at a meeting Saturday in Shanghai, where the China International Import Expo (CIIE) is in full swing, Shenzhen Special Zone Daily reported.

The 2022 Procurement Matchmaking and Investment Promotion Meeting, hosted by the city’s commerce bureau, attracted representatives from dozens of well-known enterprises from home and abroad, such as Jones Lang LaSalle (JLL), Decathlon, Topgolf China, Sanofi, Honeywell, Rainbow and Midea Group.

The procurement from Shenzhen businesses covered fields such as nutrition and health, technology and electronics, food and agricultural products, as well as trade in services.

At the meeting, Edward Xia, managing director of JLL Shenzhen, gave an in-depth analysis in his speech on the new investment opportunities brought by Shenzhen’s efforts to foster strategic emerging industrial clusters and develop future industries.

According to Xia, Shenzhen’s regulation on foreign investment further protects the rights and interests of foreign investors and can be regarded as an effective measure to stabilize foreign investment in the present economic climate.

Nearly 1,400 Shenzhen importers had signed up to join the city’s delegation for this year’s CIIE, according to statistics.

“It is rewarding for us to participate in the expo!” said Wang Zhenhua, chairman and CEO of Shenzhen Xingfu Kangdi Functional Medicine and Technology Co. Ltd. The company signed a contract with U.S. company G21 Bioscience Co. at the expo.

During the expo, the Shenzhen delegation will also hold a number of supply and demand matchmaking and negotiation activities.

According to official data, Shenzhen’s total imports and exports increased from 2.95 trillion yuan (US$410.34 billion) in 2012 to the record-high 3.54 trillion yuan in 2021. The city’s actual use of foreign capital grew from over 24 billion yuan in 2012 to about 73 billion yuan in 2021.