The 14th China International Fair for Investment and Trade (CIFIT) will take place in Xiamen, Fujian from September 8 to 11. Government departments, investment promotion agencies, multinational companies, and academic organizations throughout the world are looking forward to the 2nd World Investment Forum (WIF) and the 14th CIFIT. The ambassadors of Morocco, Zambia, Laos and Comoros to the United Nations have initiated contact with the Chinese delegation. They have all confirmed their nations’ intentions to take part in the upcoming CIFIT, send sizable delegations headed by ministerial-rank officials to CIFIT, host seminars on investment climate and opportunities, and hold investment project matchmaking symposia at CIFIT. The four nations are looking to deepen cooperation with China in minerals, tourism, agriculture, and fishery.

Convergence of Global Capital

The top two world-class investment promotion events in 2010 – the 2nd WIF and the 14th CIFIT 

With the approval of the State Council of China, the 2nd WIF and the 14th CIFIT will be staged as two back-to-back events in Xiamen from September 6 to 9, 2010. WIF is sponsored by the United Nations Conference on Trade and Development and co-organized by the Ministry of Commerce, Fujian Province, and Xiamen City. WIF brings together all investment stakeholders, including governments, businesses, international organizations, investment promotion agencies, civil society, and international investment experts and practitioners from across the world. The overarching theme will be “Investing in Sustainable Development”. Major events will include the World Leaders Investment Summit, the Ministerial Roundtable, the High-level Tripartite Sessions, the International Investment Agreements Conference 2010, the Sustainable Stock Exchanges 2010, and the International Investment Advisory Council.

CIFIT is sponsored by the Ministry of Commerce and co-sponsored by the United Nations Conference on Trade and Development, and the United Nations Industrial Development Organization. It takes place annually from September 8 to11 in Xiamen, Fujian. Since its inauguration in 1997, CIFIT has steadily expanded its scale, enriched its content, and raised its international profile and brand recognition. More than 140 countries and regions and over 300 domestic and overseas organizations and institutions have participated in CIFIT, and more than 13,000 project investment agreements have been signed at CIFIT, bringing nearly US$ 100 billion in foreign direct investment to China and allowing a large number of Chinese enterprises to make inroads into the international market. CIFIT is currently one of the world’s largest bilateral investment and trade promotion platforms, featuring the most comprehensive range of functions and the highest level of influence.

Vice Governor Ye Shuangyu stated that WIF and CIFIT, two back-to-back events, are set to consolidate the resource advantages of the two platforms. Both sides will join hands to host a series of investment promotion events to provide participating Chinese business people with opportunities to establish contact with their counterparts from around the world. Chinese enterprises will also be able to gain insights into the trends of the global economy, the latest developments in industrial adjustment and growth, and the emerging trends in cross-border direct investment in the post-recession era.

Statistics show that China received foreign capital inflows of US$ 90 billion in 2009, down merely by 206% from a year earlier. In the first three months of this year, China approved 5,459 new foreign-invested enterprises, surging 19.87% year-on-year, with the value of actualized foreign capital rising 7.65% to US$ 23.443 billion. The downward trend of foreign capital inflows has been reversed and more Chinese enterprises have been able to “go global” despite the unfavorable world economic situation. China’s non-financial FDI totaled US$ 43.3 billion in 2009, up 6.5% year-on-year, and reached US$ 7.52 billion in the first quarter of this year, soaring 103.3% year-on-year.

Accelerating Development of the West Taiwan-Strait Economic Development Zone

Vice Governor Ye Shuangyu also said that in February this year, Chinese President Hu Jintao visited Fujian, calling upon the province to seize the significant historic opportunities opened up in the nation’s initiative to encourage the eastern regions to take the lead in economic development and to facilitate Fujian to speed up the development of the West Taiwan-Strait Economic Development Zone. Premier Wen Jiabao also stated in this “Government Work Report” that the Central Government will provide support for the West Taiwan-Strait Economic Development Zone to launch a number of initiatives in the interaction and cooperation cross the Taiwan Strait. This demonstrated the high priority that the CPC Central Committee and the State Council have afforded to the development of Fujian and the West Taiwan-Strait Economic Development Zone. It will also present new historical opportunities for Fujian’s reform and opening-up drive and provide greater conditions for CIFIT.

The 14th CIFIT will provide an exhibition space of 60,000 square meters and 16 exhibition areas. The 2nd China International Property Investment Fair and the 6th Strait Travel Fair will be staged to coincide with CIFIT. A numbers of industries will be featured, including alternative energy, real estate, creative culture, tourism, energy conservation and environmental protection, infrastructure, service trading, banking, transport, and logistics. Business professionals will invited to attend these events, and project matchmaking and investment promotion for emerging industries will also be carried out. Considering the vast prospects and opportunities in the Chinese economy, the 2nd WIF and 14th CIFIT are set to grab the world’s attention. More than 80 countries and regions are expected to exhibit at CIFIT and over 120 countries and regions will attend the events.

In closing, Mr. Ye said that this year’s CIFIT will strictly adhere to the CPC Central Committee’s strategic plan to accelerate the transformation of the means of economic development and structural adjustment. It will remain focused on “attracting FDI” and “going global”, accentuate its internationality and nationality, stress investment talks and policy publicity, emphasize balanced regional economic development, promote economic and trade ties with Taiwan, improve the quality and standard of foreign capital utilization, facilitate the optimization and upgrading of the industrial structure, vigorously execute the “going global” strategy, and strengthen multilateral and bilateral economic and trade relations and economic and trade cooperation across the Greater China Region. He encourages members of the global business community to take part in the upcoming CIFIT to explore infinite business opportunities for common prosperity.