The German pavilion at the China International Import Expo in Shanghai on Nov 5 [Photo/zjol.com.cn]

With the China International Import Expo (CIIE) expected to stimulate demand for imports, Bremskerl Friction Materials (Hangzhou) Co Ltd reached an agreement totaling a value of $50,000 with a German company on the very first day of the international event.

TÜV Rheinland Group, a leading provider of technical services worldwide, was among the first batch of international certification bodies entering the Chinese market while offering testing and certification services.

As an independent third party, the company had the largest exhibition area of its kind in CIIE, displaying various solutions in areas of new energy, industry 4.0, transportation, vehicles, consumer electronics as well as sustainable development of enterprises.

Lutz Frankholz, chief operating officer at TUV Rheinland (Shanghai) Ltd, said that the company would also attend the matchmaking conference on the digital economy and high-tech industry between Zhejiang and Germany on Nov 6, to conduct further exchanges and communication with Hangzhou companies.

According to official statistics from Hangzhou Municipal Commission of Commerce, the total import and export volume of Hangzhou's service trade reached $22.707 billion in the first eight months of this year, a year-on-year increase of 139.02 percent.

The CIIE, which is to be held from Nov 5 to 10 in Shanghai, is the first ever Chinese fair exclusively focusing on imported foreign goods and services. International companies from over 172 countries and regions across the globe participated in the event.

Visitors walk past the South Africa pavilion at the China International Import Expo in Shanghai on Nov 5 [Photo/zjol.com.cn]