Global Sources and MU Group Enter RMB 100 million Strategic Cooperation Agreement

HONG KONG, April 19, 2023 /PRNewswire/ -- Global Sources and MU Group have signed a strategic cooperation framework agreement with a total value of RMB 100 million onsite at Global Sources' Hong Kong trade shows on April 18, 2023. The agreement was witnessed by Mr. Hu Wei, Chief Executive Officer of Global Sources, and Mr. Tang Yihu, Chairman and President of MU Group. Ms. Carol Lau, Senior Vice President of Customer Service, Marketing & Business Analytics at Global Sources, and Mr. Fan Yunchang, General Manager of Yiwu Kesai Import & Export Co., Ltd., a representative of MU Group, signed the agreement.

Under the terms of the agreement, Global Sources and MU Group will establish a deep partnership, with MU Group investing RMB 100 million over the next three years to provide exclusive, tailor-made services for Global Sources' B2B online trading platform and offline exhibitions, for itself and its subsidiaries, with the aim of expanding its B2B market and overseas presence.

Carol Lau stated that as a leading international B2B multi-channel trading platform, Global Sources serves as a bridge connecting verified suppliers and buyers worldwide. She highlighted that the successful conclusion of this extensive three-year agreement with MU Group signifies the recognition of Global Sources' strength by its customers. Under the cooperation framework, Global Sources will provide MU Group with exclusive customized services by integrating and leveraging its online and offline resources, particularly the new iteration and upgrade of online functions on Global Sources Online (GSOL), its online trading platform. This will enable MU Group to navigate the complex global market and promote the growth of international trade.

Tang Yihu expressed high expectations for the cooperation. He noted that previous work with Global Sources has yielded remarkable results, which is why MU Group has chosen Global Sources as its strategic partner for future development. With this strengthened cooperation in place, MU Group aims to utilize the digital and offline exhibition solutions provided by Global Sources to expand into European and American markets and aggressively develop the cross-border B2B market. Mr. Tang also believes that online buyers will increasingly seek suppliers through online platforms like Global Sources, and strategic cooperation between the two parties will benefit MU Group in further developing overseas e-commerce customers. The Group aspires to become the largest cross-border B2B purchasing company and overseas e-commerce supply chain management company in Asia within the next three years.

About Global Sources

Global Sources is an internationally recognized B2B sourcing platform that has been driving global trade for over 50 years. The Company connects authentic buyers and verified suppliers worldwide with tailored solutions and trusted market intelligence through trade shows, digital platforms, and magazines. Global Sources pioneered the world's first cross-border B2B E-commerce web site GlobalSources.com in 1995. The Company has over 10 million registered international buyers and users.

About MU Group

MU Group in founded by the end of year 2003 and was formerly well known as MARKET UNION CO., LTD. Currently, MU Group is covering more than 50 trade subsidiaries and divisions in the export trade industry. MU Group launches operating centers in Ningbo, Yiwu, and Shanghai; and branches in Guangzhou, Shantou, Shenzhen, Qingdao, and overseas.

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SOURCE Global Sources

First published on Wed, Apr 19, 2023

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