|
Gu Jie's Speech at the Hong Kong Promotional Seminar for the 12th CIFIT
——By Gu Jie, Deputy Director-General of the Investment Promotion Agency, MOFCOM |
|
2008-6-20 16:14:00 |
|
|
|
| [SIZE: Big
Medium
Small] |
Distinguished guests, ladies and gentlemen:
Hong Kong indeed has a pleasant climate and enchanting landscape in June. I’m deeply honored to be here in Hong Kong again during this fascinating season. On behalf of the Ministry of Commerce, I’d like to extend my warmest welcome to all of you!
The China International Fair for Investment and Trade is currently China’s largest international investment event aimed at promoting bilateral investment. Over the past 10-plus years, thanks to the active involvement of friends from all over the world and the concerted efforts of related parties in the mainland, the scale and influence of the fair has been constantly expanding, its scope of events has been enriching, its international influence has been rising steadily, and more substantial results have been delivered. The 11th CIFIT last year attracted more than 13,000 overseas entrepreneurs, principals of international organizations, government officials and representatives of other circles from 119 countries and regions, and provided 80 high-level forums and seminars. It saw the signing of 1,070 investment contracts and/or intents, involving a total investment of USD 22.99 billion, including USD 19.01 billion in foreign capital and USD 557 million in outward investment by Chinese enterprises. CIFIT’s significant accomplishments wouldn’t have been possible without the consistent support of our friends in Hong Kong’s public sector and business community. Since its inauguration, the Hong Kong SAR Government, enterprises, chambers of commerce, and trade associations have recruited various delegations to the fair. Here, I’d like to express my heartfelt gratitude to the Hong Kong SAR Government and business community for their consistent support over the past years.
As an international finance, trade and marine transport center, Hong Kong is the mainland’s most important economic and trade partner. Since the implementation of CEPA and its four supplemental agreements, the mainland market has opened wider to Hong Kong businesses, which has facilitated the significant complementation of economic and trade advantages between Hong Kong and the mainland and boosted their economic and trade exchanges and collaboration. In the first four months of this year, bilateral trade between Hong Kong and the mainland totaled USD 62.99 billion, up 9.3% year-on-year. As of the end of May 2008, actualized Hong Kong investment in the mainland reached USD 327.396 billion, accounting for 40.63% of the mainland’s total utilized foreign investment. In 2007, the mainland injected a direct investment of USD 2.583 billion (not including reinvestment from profit) in Hong Kong, making Hong Kong the largest destination of the mainland’s outward direct investment. These figures demonstrate that the economic and trade ties between Hong Kong and the mainland have entered a new stage. I’m confident that in the future, investment and trade cooperation between Hong Kong and the mainland will enjoy brighter prospects.
Ladies and Gentlemen:
This year marks the 30th anniversary of China’s launch of its reform and opening-up initiative. Over the past three decades, China has turned in an impressive performance in attracting foreign investment. Today, China, as a developing nation, is the largest recipient of foreign capital. In 2007, China attracted USD 74.7 billion in foreign capital, and in the first five months of this year, foreign direct investment in China totaled USD 42.778 billion, surging 54.97% year-on-year. Foreign capital has become an important part of China’s national economy and a major contributor to increased tax revenues, employment expansion and economic growth. The past 16 years have seen a rapid growth in the amount of foreign capital in the mainland. Today, the mainland is focusing on achieving a comprehensive improvement in the quality of foreign capital, which has emerged as a major force in the mainland’s industry upgrading and balanced regional development.
Meanwhile, China’s outward investment has scaled a new high. As of the end of March 2008, China’s cumulative outward investment has approached USD 113.1 billion. In the first quarter of this year, China’s non-financial outward direct investment totaled USD 19.34 billion, leaping 353% year-on-year. At present, China’s per capita GDP has exceeded USD 2,000. In terms of both comprehensive national strength and enterprises’ practical needs, China’s outward investment is at a new start line in its historic development.
This year, both the contents and the format of CIFIT will focus on the practical needs of “attracting FDI” and “going global”. We will strive to seize the historic opportunities revealed in economic globalization and the accelerating relocation of international industries and capitalize on the improvement of economic and trade relations among the mainland, Hong Kong and Taiwan to present a high-level and distinctive fair.
Ladies and Gentlemen:
On May 12 this year, a magnitude-8 earthquake struck Wenchuan, Sichuan. After the news of the disaster broke, Hong Kong people and Hong Kong enterprises in the mainland made generous donations of money and supplies, and the Hong Kong Government Flying Service promptly flied to the earthquake-hit area for rescue operations. All these have demonstrated that “blood is thicker than water” and reflected the deep bond between Hong Kong and mainland people. Hong Kong can’t enjoy prosperity and stability without the mainland, and the mainland’s economic growth can’t be possible without the strong support of Hong Kong people. Since the inauguration of CIFIT, Hong Kong’s business community has been actively involved, playing an important role in the success of each year’s CIFIT. We hope that Hong Kong people will continue to support CIFIT and take advantage of CIFIT as a platform to complement each other’s advantages and form a greater driving force for growth with the mainland in order to achieve win-win results and social stability and prosperity in both Hong Kong and the mainland.
Thank you!
|
|
|
|
|
|
|
|
|
|