On November 7, Jiangsu Provincial Foreign Trade Corporation (JOC) signed a strategic cooperation framework agreement with Caterpillar and Lei Shing Hong Machinery at the second China International Import Expo. In line with the principle of "mutual benefit and win-win cooperation", they will conduct all-round cooperation focusing on fields of ship propulsion system equipment, ship generator set, etc.

Caterpillar, Lei Shing Hong Machinery and JOC have had over ten years of successful cooperation, involving an amount of up to USD30 million and covering all kinds of ship equipment of Caterpillar and all ship types and applications within the business scope of JOC. They all agree that their businesses are highly complementary in all aspects and there is a broad space for cooperation.

A team led by Huang Hongliang, the Chairman of JOC, visited Caterpillar's booth, and Chen Qihua, the Global Vice President of Caterpillar, introduced Caterpillar's development in China in recent years. The two sides expressed the hope to further strengthen communication and exchange centering around the national strategy of "Belt and Road”in the future, and discussed in depth how to improve the operational efficiency of products and reduce operating costs to realize a win-win situation.

Yan Guolun, the Vice President of JOC, Joe Tracy, the Chief Operating Officer of Lei Shing Hong Machinery Engine Business Unit, and Thomas Teo, the General Manager of Distribution Services of Caterpillar China and India signed and witnessed the agreement as representatives of the three parties.

The signing of this strategic cooperation framework agreement will serve as a new starting point for the parties to strengthen exchanges and cooperation, promote complementarity of the strengths, achieve win-win cooperation and common development, and make further and greater contributions to the implementation of national strategy and enterprise operation.