A signing ceremony takes place alongside the 2018 World Yiwu Entrepreneurs Convention on Feb 21, for cooperation between China Pufa Machinery Industry Co and Yiwu Cito Group, as well as the government of Fotang town in Zhejiang province. [Photo/chinaperfect.com.cn]

China Perfect Machinery Industry Co, a subsidiary of Sinomach, signed cooperation agreements with Yiwu Cito Group and the government of Fotang town in Zhejiang province, at the 2018 World Yiwu Entrepreneurs Convention on Feb 21.

According to the agreement, China Perfect will work with the two partners to build a rural complex project. With total investment of 518 million yuan ($81.59 million), the complex will combine traditional farming culture with modern high-tech agriculture to build a new model of rural life in Yiwu, which is known as the "world supermarket" for its wholesale goods.