Company news


CMEC Signs Three Agreements at 3rd CIIE

Release time:2020-11-07 Article source: Reading times: Text size:【A+AA-

On November 6, the signing ceremony of SINOMACH trading sub-delegation to the 3rd China International Import Expo (the 3rd CIIE) took place at the 7.2 hall of the National Exhibition and Convention Center (Shanghai). At the signing ceremony, CMEC signed agreements on strategic cooperation and projects with the General Electric, ARJES and Belarus Eurasia Investment Group Co., Ltd., respectively, so as to make active use of overseas market experience and resources to promote the development of the domestic market and strive to advance and serve the new development paradigm with the two circulations reinforcing each other.

In the face of the severe impacts made by the COVID-19 on the global economy, SINOMACH fully implements the general principle of “unswervingly and comprehensively expanding opening up” and the requirements on “more effectively linking the domestic and overseas markets and sharing factors and resources”, which were put forward by Chinese President Xi Jinping. At the 3rd CIIE, SINOMACH played a key role as a central enterprise and signed eight agreements with its eight international partners, amounting to over USD5 billion, so as to jointly cope with the economic risks and challenges caused by the COVID-19, share the opportunities of China’s development, and promote the recovery of world economy.

SINOMACH Party Secretary and Chairman Zhang Xiaolun attends and addresses the signing ceremony

Ding Hongxiang, Member of the Standing Committee of the CPC SINOMACH Committee and SINOMACH Deputy General Manager, presides over the signing ceremony

Zhang said at the signing ceremony that SINOMACH would like to achieve win-win outcomes and common governance and share responsibilities with its partners, create new opportunities and usher in a new stage, and work together with them to carry out high-quality opening up of China and promote high-quality development of international cooperation. During the 14th Five-year Plan period, SINOMACH will keep in alignment with world-class level, increase the scale of its overseas business cooperation, unlock broader space for cooperation, improve its industrial chain and supply chain, further expand import, enhance the level of import trade services, make more friends in an all-around way, share the market opportunities with new and old friends, and take the cooperation quality onto a new stage.

Tobias Ostermaier, President MTU Greater China, said “China’s economic growth has unleashed various new needs and opportunities, we hope to provide high-quality power generation solutions to help superior Chinese enterprises such as SINOMACH to grasp market opportunities and promote long-term cooperation between the two sides.”

CMEC has signed the following three agreements during the expo:

CMEC and the General Electric signed the MOU on Strategic Cooperation and Onshore Cypress Launch Order in China, aiming to jointly promote GE’s latest Cypress onshore wind turbines in the Chinese market and set an example for building northeast, north and northwest China into a world-leading wind power base in the future. The cooperation is not only an effective practice of using overseas experience and resources to develop domestic markets by means of resources import and “a new development paradigm with the two circulations reinforcing each other”, but also a useful attempt to adjust its business layout, expand its domestic markets and develop wind power projects in China under the new normal of epidemic prevention and control.

CMEC and ARJES High-tech Co., Ltd. signed the ARJES- CMEC Circular Economy Industrial Park Project Cooperation Agreement. The project is expected to increase China’s circulation utilization rate of construction wastes to 95% and significantly improve the current situation that only less than 10% of the construction wastes are recycled.

CMEC and Belarus Eurasia Investment Group Co., Ltd. signed a package of MOUs for cooperation in trade, people’s livelihood, smelting and transport. Specifically, the electrolytic aluminum project will be designed by the Chinese side and its products will be manufactured in China and follow the Chinese standards, thereby effectively solving the problems of excess electricity and filling in the gaps of the non-ferrous metal metallurgy industry, significantly promoting local economic development, providing local residents with jobs, and making contributions to economic & trade exchanges between the two countries, the implementation of the “Belt & Road” initiative and “going global” of Chinese elements.