China's centrally administered State-owned enterprises expanded global procurements and deepened ties with overseas suppliers at the 9th China International Import Expo, creating new opportunities for foreign firms and building more resilient global supply chains.
Central SOEs, including China Energy Engineering Group Co (Energy China), Sinochem Holdings Corp and COFCO Corp, signed procurement and cooperation agreements with foreign enterprises such as Saudi Aramco, TotalEnergies, Archer-Daniels-Midland and Bunge at the CIIE, held Nov 5-10 in Shanghai.
Energy China signed purchase orders worth $1.63 billion with companies from the United States, Germany, the United Kingdom, Italy, Portugal, Japan and Singapore at the expo.
Among the purchases are gas turbines from Germany's Siemens Energy for a 2,600-megawatt power plant project in Abu Dhabi, the United Arab Emirates, scheduled to begin commercial operations in 2029.
Ni Zhen, chairman of Energy China, said the group will leverage its expertise in energy, power and water infrastructure to expand international cooperation, drive technological innovation and support China's high-standard opening-up via global projects.
In the agricultural sector, COFCO — China's largest foodstuffs producer and grain trader by sales revenue — signed procurement agreements worth more than $10 billion with foreign partners, including Cargill and Louis Dreyfus Company (LDC) during the expo.
The agreements cover a wide range of agricultural products, including wheat, edible oils and Brazilian raw sugar, as well as consumer goods such as wine, beer and champagne.
COFCO Chairman Li Guoqiang said the Beijing-based group will work with overseas partners to translate opportunities at the CIIE into tangible business activity and deepen ties across the agricultural value chain.
This year, COFCO added new wheat suppliers from Kazakhstan and explored additional shipping options, including containerized and bulk grain transport.
Michael Gelchie, CEO of LDC — a business partner of COFCO and a nine-time CIIE participant — said the expo is a vital platform for showcasing China's market opportunities, fostering innovation and deepening cooperation. Its focus on innovation closely aligns with his company's ongoing business transformation.
Gelchie said the expo enables the Rotterdam-based agribusiness group to showcase innovative solutions, explore new business opportunities and engage with industry partners to better understand China's evolving market trends and development priorities.
Meanwhile, Sinochem Holdings and its overseas subsidiaries signed purchase deals worth more than $12.8 billion with over 30 partners from nearly 20 countries and regions at the CIIE this year, according to a company statement.
The agreements cover a broad range of products, including crude oil, refined petroleum products, chemicals, advanced chemical processing equipment, foodstuffs and agricultural products. The suppliers are based in countries including Saudi Arabia, Oman, Germany, Switzerland, Belgium, South Korea, Malaysia, Thailand and Mozambique.
Zhou Lisha, a researcher at Tsinghua University's Institute for State-owned Enterprises, said big-ticket procurements by central SOEs will boost China's imports, open up new opportunities for foreign suppliers and contribute to more balanced trade with its major trading partners.
Speaking at a sub-forum during the ninth Hongqiao International Economic Forum in Shanghai last week, Vice-Minister of Commerce Yan Dong said China is willing to work with other countries to create a favorable environment for mutually beneficial cooperation, bring supply and demand into closer alignment, and encourage shared growth.
