Zhang Xiaolun (R), chairman of Sinomach, signs a cooperation agreement with Wu Qing, vice-mayor of Shanghai on Sept 5 in Shanghai. [Photo/sinomach.com.cn]

Sinomach joined nine other central State-own enterprises in signing strategic cooperation agreements with the Shanghai government on Sept 5.

The move is an effort by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the Shanghai Municipal People's Government to promote cooperation between SOEs and local governments.

Zhang Xiaolun, chairman of Sinomach, attended the ceremony and signed the agreement with Wu Qing, vice-mayor of Shanghai.

SASAC and the Shanghai government signed a similar agreement in 2017 to accelerate the pace of the city’s development into a science and technology innovation center with global clout and since then have made significant achievements.

Sinomach is currently operating more than 70 subsidiaries in Shanghai involving engineering design, technical services and international trade, with total revenue exceeding 13.6 billion yuan ($1.9 billion) in 2018.

In the future, Sinomach will continue to give full play to its professional advantages in equipment manufacturing and modern manufacturing services. The company will enhance its comprehensive strategic partnership with Shanghai and work together to realize innovation and development.