Greenland Holdings Spent Nearly USD1.6 Billion at CIIE This Year
Tang Shihua
/SOURCE : yicai
Greenland Holdings Spent Nearly USD1.6 Billion at CIIE This Year

(Yicai Global) Nov. 11 -- Chinese property developer Greenland Holdings, one of the main companies in Shanghai's local buying group for the China International Import Expo, spent almost USD1.6 billion at this year's event.

The figure was up slightly from USD1.5 billion last year, the Shanghai-based firm said in a statement yesterday. It signed purchase agreements with nearly 40 companies and trade chambers from 23 countries at the expo, which was running for the second time this year.

The goods covered 10 categories including agriculture, food and drinks, healthcare products and home appliances, including some from countries along the route of the Belt and Road Initiative, Chinese President Xi Jinping's grand plan for a multi-continental trade and infrastructure network.

Greenland also built the Shanghai Greenland Global Commodity Trading Hub, an exhibition and trading platform for the expo. Merchants using the hub signed almost USD400 million worth of purchase agreements at the CIIE this year, of a total USD71.1 billion penned during the event.

The company has been expanding the hub beyond Shanghai this year and set up a supermarket chain named G-Super to sell high-end imported goods to middle-class consumers around the country.

Editor: James Boynton

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Keywords: Greenland Holdings , CIIE