China’s import expo logs $57.8bn of deals

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SHANGHAI: Around $57.83 billion worth of deals were agreed for the year ahead at the China International Import Expo (CIIE), according to official reports on Saturday.

The Nov 5-10 CIIE, which brings thousands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world’s second-biggest economy, closed on Saturday.

Deals for intelligence and high-end equipment were set to total $16.46 billion, while those for consumer electronics and home appliances were around $4.33 billion, the reports said.

Sales agreed for the automobile sector goods hit $11.99 billion, while clothing and consumer goods inked $3.37 billion, and food and agricultural products made $12.68 billion, it said. In addition, it added, $5.76 billion worth of medical devices and medical care goods were sold.

The trade expo is designed to demonstrate goodwill amid mounting frictions with the United States and others. On Monday, Chinese President Xi Jinping promised to lower tariffs, broaden market access and import more from overseas.

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