CIIE deals hit record US$78.4 billion amid China’s push to mend trade ties, boost global economy
- The value of deals at the six-day CIIE rose 6.7 per cent year on year, according to the organiser CIIE Bureau
- Exhibitors at the American Food and Agriculture Pavilion signed US$505 million worth of deals
The record figures since the trade show began in 2018 reflect Chinese buyers’ keen interest in imported goods, services and technology, as the mainland’s robust consumer market plays an important role in propelling the stalling global economy, the CIIE Bureau said. The expo would become even better next year, further displaying Beijing’s resolve to open up the vast market, it added.
“The foot traffic and buying interest seen at the trade show was unprecedented,” said Chen Xiao, CEO of Shanghai Yacheng Culture, a marketing and branding company serving a number of international consumer products firms. “China’s reopening [after the Covid-19 pandemic] released much pent-up demand for foreign goods from manufacturing businesses and individual consumers.”
The six-day event attracted 3,400 exhibitors – including Tesla and Siemens – and nearly 400,000 accredited visitors. The number of participants and exhibition area of 367,000 square metres both hit an all-time high.
Many contracts were pre-signed before the expo opened on November 5. It is, however, possible some of the preliminary deals might not get finalised.
