For the seventh consecutive year, companies from Shanghai’s Qingpu district sealed the first procurement order at the China International Import Expo (CIIE). The $50 million deal, signed on Tuesday between Shanghai Hiwinny, an electromechanical technology firm, and Germany’s Hiwin GmbH, marks the first transaction of the 7th CIIE, which runs through Sunday in Shanghai.

The agreement, aimed at strengthening Shanghai Hiwinny’s competitiveness in sectors like semiconductors, automotive, and consumer electronics, is also expected to boost Hiwin’s brand presence in China, according to the Shanghai Municipal Commission of Commerce.

Qingpu’s early deals in previous years have totaled $2.18 billion, underscoring the district’s strategic role in bringing international enterprises into the Chinese market.