CIIE key to opening-up, lucrative deals inked

Central SOEs, subsidiaries sign agreements at annual import expo with foreign partners for more mutual benefits

With China creating more favorable conditions to expand high-level opening-up, the annual China International Import Expo has become a key driving force for its centrally administered State-owned enterprises to connect with foreign enterprises and ensure the stability of supply chains, said senior corporate executives.

The government organized central SOEs to set up 99 trading groups to participate in the fifth CIIE held in Shanghai in early November. More than 17,500 purchasing professionals from nearly 1,300 central SOEs and their subsidiaries took part in the grand event this year, according to the State-owned Assets Supervision and Administration Commission of the State Council, China's Cabinet.

Central SOEs — including China National Petroleum Corp, China Eastern Air Holding Co Ltd, Sinochem Holdings Corp Ltd and COFCO Group — signed purchase and cooperation deals with multinational companies such as Honeywell, Pratt & Whitney, Saudi Aramco, Kuwait Petroleum, ABB, Dow Chemical and Cargill during the fifth CIIE.