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Professional buyers go on purchasing binge at 3rd CIIE

作者:admin 2020-11-06

Professional buyers go on purchasing binge at 3rd CIIE

A photo taken outside of the National Exhibition and Convention Center (Shanghai) shows the mascot of the 3rd China International Import Expo (CIIE). The CIIE kicked off on Wednesday. Photo:cnsphoto



Professional buyers from Chinese mainland companies began to place massive orders on Thursday, displaying China's vast demand for global goods and services.

AOC, a display maker from the island of Taiwan, became the first company to sign a deal with a Chinese mainland buyer on Thursday, with the purchase of $500 million worth of display panels and semiconductors.

China Eastern Airlines, one of China's top three carriers, signed deals worth $1.1 billion with two overseas companies on Thursday. One deal was with CFM International, a US-French joint venture that supplies turbofan engines, for a maintenance contract for the LEAP-1A aviation engine, and six spare aviation engine procurements. Another contract went to Honeywell.

Chinese state-owned oil major Sinopec said that it signed contracts with 28 suppliers including Kuwait Petroleum Corp on Thursday, without disclosing the sums involved. 

The company said that it will sign procurement contracts with more than 50 suppliers from 15 countries and regions at the CIIE, covering 25 varieties of goods. 

The third CIIE, one of the world's largest trade fairs, promotes China's role as a buyer of the world's goods.

China is hoping to transform itself into a market for the world, banking on the world's biggest and rising  middle-income group with more than 400 million people. Total imports into China are estimated to top $22 trillion in the coming decade.


Newspaper headline: Professional buyers go on purchasing binge at key expo


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Posted in: ECONOMY,COMPANIES

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