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New platform to boost collaboration between central state-owned enterprises and local firms

    A new platform was unveiled in China (Shanghai) Pilot Free Trade Zone on Wednesday to boost collaboration between the central state-owned enterprises and local companies.

    About 200 representatives from 24 central state-owned enterprises, including China Baowu Steel Group Corporation; specially-invited firms and platform partners attended the opening ceremony of the Integrated Development Platform of Central State-owned Enterprises and Local Companies.

    The platform will promote the cooperation and integrated development between central state-owned enterprises and local companies, participate in the development of Shanghais economy and build advanced manufacturing industry, modern service industry and a cluster of new strategic industries.

    Also, the platform will help serve the central state-owned enterprises businesses in the Belt and Road countries and regions, accelerate Shanghais aggregation and distribution of global resources and boost the citys engagement in international cooperation.

    At the ceremony, six central state-owned enterprises and local companies cooperation projects were signed, involving 24 billion yuan (US$3.77 billion) in registered and raised capital.

    In the future, Commercial Aircraft Cooperation of China, China National Nuclear Corporation Military and Civilian Integration Fund Management Company, China Shipbuilding Industry Corporation Pawnbroker (Shanghai) Co, and Global Maritime Ship Desulfurizer Equipment Production Co will settle at the Shanghai Expo Area.

    Weng Zuliang, Party chief of the Pudong New Area, met some leaders from the central state-owned enterprises. Xu Kunlin, vice-mayor of Shanghai, also joined the ceremony and delivered a speech.