May 1, 2016
SIGNING OF MOU BETWEEN LINYI CITY & ICEC COUNCIL
The MoU was signed by Excellency Zhang Shuping, Hon’ble Mayor of Linyi Municipal People’s Government and Mr. Mohd. Saqib, Secretary General, ICEC Council
Under this MOU, both sides shall set up the India China Economic and Cultural Council – China Linyi Trade City cooperation and coordination office, and establish a joint working mechanism to promote friendly exchanges and economic & trade cooperation. ICEC shall provide policy consulting, legal services and industrial docking platform for enterprises in Linyi Trade City to enter India, actively promote the market advantage and brand of Linyi Trade City, and introduce member enterprises to take part in China (Linyi) International Trade and Logistics Fair
Linyi city Government in association with ICEC will also establish the Linyi commodity exhibition Center in ICTIC, an initiative of ICEC Council towards providing a platform for Chinese companies to promote their products/technology in India.
Linyi’s economy is based around its wholesale markets. The Linyi Wholesale City is ranked 2nd in its category in China with an annual trade volume of 150 billion RMB. There are 101 various wholesale markets covering diversified goods of more than 60,000 kinds and 27 categories including petty commodities, hardware, building materials, plates etc. Nearly everything from production materials to living necessities can be found here. It has become a trade centre for people from more than 30 provinces, municipalities and autonomous regions. The commodities are sold to more than 20 countries and regions, with a total annual turnover of RMB 150 billion yuan in 2013.