A number of procurement agreements were signed between China Baowu Steel Group Corp and its global partners during the ongoing 8th China International Import Expo in Shanghai on Saturday. China Baowu has had a presence at every edition of the expo to date and, this year, has managed to put pen to paper on more than 10 procurement deals.

The deals include the purchase of specialized intelligent and low-carbon equipment for steel manufacturing, as well as resources of high-quality iron ore, chrome ore, manganese ore, ferroniobium and coal. These resources are to be used for upgrading China Baowu's high-end production lines, optimizing product structure and improving efficiency, which will result in more high-quality, high-end and green products for customers around the world.

"In the past eight years, China Baowu has deepened collaboration with enterprises from more than 20 countries," said Fei Peng, deputy general manager of China Baowu.

"Through signing contracts, holding exhibitions and hosting forums, China Baowu has leveraged the CIIE as the vehicle for promoting the high-quality development of the steel sector."

Fei noted that, amid global economic uncertainties, opening-up and collaboration are the only answers to obtaining more development opportunities.