(Yicai Global) June 22 -- Shanghai has set up buyers' alliances for the upcoming China International Import Expo aimed at spending a combined CNY4 billion (USD615 million) on foreign goods.

At the first meeting yesterday for November's CIIE, the local authorities formed a buyers group under the leadership of Vice Mayor Wu Qing, who was formerly the chairman of the Shanghai Stock Exchange. Four other groups were also set up for cross-border e-commerce importers, large-scale retailers, integrated trade service providers, and exhibition services.

The alliances will promote communication between local purchasers and exhibitors, support Shanghai Trading Group's activities, and help exhibitors get in touch with potential buyers, said Shen Weihua, deputy head of the city's commerce commission.

Editor: Emmi Laine