China's central SOEs raise CIIE purchase intentions for South American goods by 45%

China's centrally administered state-owned enterprises (SOEs) increased the purchase intentions they agreed at the 9th China International Import Expo (CIIE) in Shanghai. According to figures from SASAC, the body that supervises these companies, intended purchases from South America totalled $26.425 billion, up 44.9% from $18.237 billion at the previous expo. The figures were published on November 9 on the expo's official website and by Caijing.

In the same tally, intended purchases from BRICS countries reached $22.7 billion, up 53%, and those from Africa came to $4.402 billion, up 25.5%. The SOEs also plan to buy $5.15 billion of equipment from EU countries such as Germany, France and the Netherlands, up 24.8%.

The report highlights a shift in what is being bought. Technology and equipment accounted for $15.52 billion in planned deals, up 17.6%, and rose from 8.6% to 10.7% of the value agreed by the SOEs. Crude oil, minerals and other commodities accounted for more than $120 billion in intentions. Natural gas accounted for $8.81 billion of that (+44%). Refined oil products came to $2.47 billion (+115%).

Among the deals cited, China Electronics Corporation (CEC) signed a $1.128 billion agreement with AMD to buy integrated circuits and modules. China Eastern Airlines signed $540 million, including spare engines from CFM International. Sinomach agreed to buy a film production line from Germany's Brückner, and AVIC held talks with Nikon and Tokyo Electron on exposure and dry-etching equipment for chips and display panels.

According to the same report, China's three big state oil companies (CNPC, Sinopec and CNOOC) signed more than $73.7 billion at the expo, and food trader COFCO passed $10 billion, with sourcing in North America, South America, Oceania, Kazakhstan and Argentina. Power group SPIC signed $1.424 billion with nine companies from Europe, the Americas and Asia.

The figures are presented as purchase intentions, and the report does not list contracts by country, so it is not possible to say how much goes to any given exporter. The CIIE closes on November 10, when organisers usually release the expo's total deal figure. CSP will follow that tally.