SHANGHAI, Nov. 14, 2018 /PRNewswire/ -- Shandong province-based organizations, in a delegation led by the provincial government, attended the inaugural China International Import Expo (CIIE), held in Shanghai from November 5 to November 10. At the event, they engaged in discussions with other attendees about how to best facilitate the province's economic growth through the platform. During the expo, several exhibitors from the province said they were confident that the event would help them reduce sourcing costs and streamline the import process.
Shandong province, known for its many thriving industries, consumes a large amount of raw materials annually. As a result, local companies find themselves in urgent need of streamlining the import process and reducing purchasing costs. Shandong Shilixiang Sesame Products Co., Ltd., for example, imports over 5,000 tons of sesame annually, which had, until now, been purchased from middle-man agents. The expo connected the company with suppliers in the African countries where the plant originates, eliminating the need to have any entity acting as a go-between and cutting the procurement costs by 5 percent or 1.5 million yuan (approx. US$215,000) per year.
Weihai Runze Food Co., Ltd. had to travel to Brazil, Chile and other countries across the Americas to secure its supply of goods. Through the easy-to-navigate platform designed for importers by CIIE, the company signed 100 million yuan (approx. US$14 million) in procurement agreements with beef suppliers from Brazil and Argentina, without the need to send staff to the countries in question. An executive at the food firm said the company's imports in 2019 may double from this year.
Linyi Youyou Wood Industry Co., Ltd., a company primarily engaged in the export of wood flooring, is currently in need of upgrading its products. The company attended the event with the intention of purchasing industrial production equipment with a budget ranging between 100 and 200 million yuan (US$14 to 29 million) as part of its long-range plan to build automated and intelligent product lines.
Taishan Tourism Group Co., Ltd. attended the event with the aim of enriching its tourism resources and offerings in and around Mount Tai by studying the latest techniques deployed by foreign travel agencies and performance arts companies.
After watching the demonstrations of the application scenarios for intelligent devices and instruments, a representative from Longkou Bosida Instruments and Apparatuses said the showcasing of advanced technologies developed in foreign countries at the event inspired the company to seek new opportunities with an open mind.
Shandong province-based companies attending the expo expressed their interest in introducing more leading technologies and products into the domestic market. They believe CIIE will provide the most forward-looking among local firms an opportunity to expand globally and cooperate with international companies, helping boost the economic and social development of the province.
SOURCE Information Office of the People's Government of Shandong Province