The signing ceremony

Shanghai's first deal at the 5th China International Import Expo, a procurement order of intent worth US$300 million, was sealed on Saturday morning.

It was signed between YH Global, a logistics company, and Philips (China) Investment Co Ltd.

The order involves fashion electronic products. The two sides will also cooperate in various fields such as warehousing and logistics, e-commerce operation and distribution, based on the agreement.

Trading delegations from Qingpu District signed the first order of the Shanghai trading group for five consecutive years at CIIE with trading volume surpassing US$3 billion.

Nearly 10,000 companies registered in Qingpu are among the trading delegations.

"The deal covers small home appliances, shavers, electric toothbrushes and household commodities," said Han Xiao, vice president of YH Global.

"We are both 'old friends' of CIIE," said Han. The two companies have attended the event for five consecutive years.

"The deal volume is bigger and bigger and we are very confident on the economic and business environment of China," she said. "CIIE provides a grand stage to showcase companies to the world."

Oliver Cheng, SVP and GM of Personal Health, Philips China, said the two companies had forged a partnership many years ago, and the deal marked a new stage of their cooperation.

"Our cooperation has been expanded to business cooperation in all fields, from simply logistics to now covering trade, procurement and sales," said Cheng.

"The aim is to bring more convenient and healthy lifestyle to consumers via YH Global's service and high-tech products of Philips. CIIE provides an exchange platform for businesses, and the cooperation will by no means end at the US$3 billion deals."