Chinese companies signed a record US$83.5 billion in import contracts at the China International Import Expo (CIIE) in Shanghai, underscoring the strength of mainland consumer demand less than two weeks after a US-China trade truce, reported Hong Kong's South China Morning Post.

The six-day event marked the fifth consecutive record high, with the total rising 4.4 per cent from last year, according to the organiser, the CIIE Bureau.



"Chinese companies have increased purchases of foreign-made goods that local consumers desire and need," said Ding Haifeng, a consultant at Shanghai-based financial advisory firm Integrity. He added that the trade pact between the world's two largest economies boosted confidence among foreign manufacturers and local merchants.



The CIIE Bureau, a unit of the Ministry of Commerce, said the contracts were preliminary and some may not be finalized. Many agreements were pre-signed before the expo opened on November 5.