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Hong Kong welcomes promotions for 2018 CIFIT

     chinadaily     2018-7-2 15:45:00    

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A promotional conference for the 2018 China International Fair for Investment and Trade (CIFIT) was held in Hong Kong on June 27 to attract local business people for the event.


CIFIT will this year be held in Xiamen, Fujian province, from Sept 8 to 11.


The Hong Kong conference welcomed more than 300 representatives from local governments’ investment promotional organizations, embassies and consulates in Hong Kong, as well as business associations, and investment and finance institutions from China and abroad.


Lin Zhen, from CIFIT’s organizing committee, briefed the attendees on the highlights of this year’s fair, and Zhang Hongxia, this year’s guest from province of honor Yunnan, promoted her home region at the conference.


Liu Yajun, deputy director of the economic department of Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR), spoke at the promotional conference, noting that Hong Kong people have been actively taking part in China’s reform and opening-up over the past four decades, contributing a lot to China’s development.


He added that CIFIT’s growth is the epitome of China’s wider opening-up to the outside world.


After 20 years’ development, CIFIT has grown into the largest and most influential investment promotion platform in China.


Liu, therefore, hoped business people in Hong Kong will further strengthen their cooperation with the Chinese mainland by attending the annual event.


CIFIT has promoted China’s efficient utilizaiton of foreign investment and played an active role in China’s opening-up since the first fair held in 1997,” Li Yong, deputy director of the Bureau of Investment Promotion of China’s Ministry of Commerce, said. “As the annual event’s sponsor, the commerce ministry will continue sparing no effort to support it.”


Besides the 2018 International Investment Forum, a series of other activities will also be held during this year’s fair, including seminars on investment facilitation and production capacity cooperation among the international community, an investment conference on commerce and service industries, and a forum on the development of artificial intelligence.


Li also noted that the World Investment Conference, co-organized with the World Association of Investment Promotion Agencies (WAIPA), will be held during the 2018 CIFIT, and investment promotion agencies and companies from approximately 100 countries and regions are expected to attend the conference.


Wu Nanxiang, director of Fujian province’s commerce department, pointed out that Fujian serves as an important showcase of China’s opening-up to the outside world, and Fujian’s development has attracted global, and CIFIT is the key to getting to know the South China province.


He added that CIFIT this year will highlight the Maritime Silk Road in the hope of enhancing economic cooperation with the countries and regions along the maritime economic belt.


An exhibition area of 20,000 square meters is expected to be established exclusively for these countries and a series of activities centering around the Maritime Silk Road will also be held, such as a forum on the Belt and Road Initiative (BRI), a conference on economic cooperation between Fujian and the counties and regions involved in the Maritime Silk Road, and a sci-tech forum among Maritime Silk Road countries and regions.


Han Jingyi, deputy mayor of Xiamen, said at the conference that CIFIT reflects China’s reform and opening-up and in this new era, the event this year will adapt its activities to the new trend of economic globalization to keep serving as an efficient platform for foreign investors.


Fu Zhongsen, director of Invest Hong Kong, believed that with abundant investment resources, CIFIT offers a great opportunity for Hong Kong to promote its favorable business environment.


The government of HKSAR sets up a Hong Kong pavilion each year at CIFIT to advertise its advantages in investment and trade.


Fu said that already 8,200 enterprises from the Chinese mainland and other countries have established offices in the city and he expected more outstanding enterprises will settle in Hong Kong after attending this year’s event.


Statistics from the government of HKSAR shows that the Chinese mainland is Hong Kong’s largest trade partner. In 2017, total trade volume between the Chinese mainland and Hong Kong reached $550 billion, up by 6.5 percent year-on-year.


By the end of 2017, the Chinese mainland had attracted investment of $1,009 billion from Hong Kong, making up 53.1 percent of its total foreign direct investment, while it had invested $548 billion in the city, accounting for 52.5 percent of its total outward investment.


Over the past 20 years since the first CIFIT, the fair has attracted 190,000 businesspeople from over 160 countries and regions and attracted investment of more than $230 billion.


Last year, the fair facilitated the signing of 1,577 investment projects worth 532.7 billion yuan ($82 billion) and attracted more than 100,000 domestic and foreign business representatives from 4,000 domestic and foreign enterprises, 700 business groups and 40 multinational corporations from 107 countries and regions.


Highlights of this year’s event are listed as follows:



Exploring cooperation among countries along the Belt and Road route



Fujian province is the starting point and birthplace of the Maritime Silk Road and as one of China’s four earliest special economic zones, Xiamen, a sub-provincial city in the southeastern province, is at the forefront of China’s reform and opening up.


The CIFIT, rooted in the city, inherits the spirit of the Maritime Silk Road: cooperation, openness, inclusiveness, mutual learning and mutual benefit.


The fair serves global businessmen with an open heart and the countries along the Belt and Road are the event’s frequenters.


Its previous guest countries of honor, such as Malaysia, Bahrain, Italy, and Georgia, are the most representative countries along the Belt and Road route. The event’s organizing committee organized a series of activities for them based on their economic features, industrial development and superior resources.


The Czech Republic was identified as this year’s guest country of honor. The organizing committee will help the Central European country establish a 800-square meter pavilion, and organize themed forums and a seminar on The Czech Republic’s business climate and project match-making activities exclusive to the country.


Besides its guest country of honor being the Belt and Road countries, exhibition areas themed on the Belt and Road Initiative are expected to be arranged.


As of now, 10 countries along the Belt and Road route plan to establish a national pavilion during the fair to show their national image and attract investment, including Malaysia, Indonesia, the Philippines, Pakistan, and Spain.


More other countries will also establish a pavilion at the event to seek cooperation with overseas enterprises, including Chinese ones.


Various themed forums related to the Belt and Road Initiative will be organized, including a forum on cross-border finance powering the Initiative, a forum on the development of traditional Chinese medicine, a women’s forum, and a human resources forum.


As for the project match-making activities, an activity exclusive to the Belt and Road countries and an economic and trade cooperation activity between Fujian and countries along the Maritime Silk Road will be launched.



Mastering the latest information on international investment



The CIFIT has always maintained its authoritative, professional and forward-looking position in international investment over the past 20 years, featuring high standard on the interpretation of economic trends, policies and regulations.


The fair has grown into an official channel for related agencies from home and abroad to introduce their investment climate and release authoritative reports, and thus, CIFIT was likened to the indicator of international investment trends.


The United Nations Conference on Trade and Development (UNCTAD) decided to hold its second World Investment Forum together with the CIFIT in Xiamen as early as 2010.


The World Association of Investment Promotion Agencies (WAIPA), one of CIFIT’s co-organizers, plans to hold its annual meeting during this year’s event in the coastal city.


It’s anticipated that large numbers of investment promotion agencies and enterprises from nearly 100 countries and regions will come to Xiamen for the CIFIT.


More than 80 forums regarding investment are expected to be organized, during which the UNCTAD, the UN Industrial Development Organization (UNIDO), China’s commerce ministry, China Investment Association and other organizations will release their study results, including Report on Foreign Investment in China, World Investment Report (Chinese version), Report on the Development of China’s Overseas Contracted Projects, Report on the Development of China's Foreign Labor Cooperation, and Report on the Development of E-commerce in China.


New economic forms are also the focuses of this year’s event. Exhibition areas related to we-media investment, copyright investment and investment and financing in emerging industries will be included to help participants explore the direction of future investment.



Creating more precise cooperation opportunities



As an international investment promotional platform established by China’s commerce ministry, CIFIT is scheduled to take place in Xiamen from September 8 to 11 each year.


Statistics from CIFIT’s organizing committee shows that a total of 1,577 projects were concluded at the 2017 CIFIT with an investment of 532.7 billion yuan ($83.63 billion), of which 240 billion yuan is used for regional cooperation.


Project matchmaking activities during this year’s CIFIT will be more precise. These activities will be integrated with exhibitions, conferences, forums and other supporting activities and the exchanges between key industries’s investors and project holders will be further enhanced.


Centering around hot issues, such as China’s supply-side structural reform, innovation, startups, listed companies, these project matchmaking activities will focus on strategic emerging industries and key sectors.


An online CIFIT, launched earlier this year, enables the fair’s organizing committee to help registered projects seek appropriate investors and vise versa at any time and in any place.


Investment Nationwide” will continue to be organized. It is a series of events during which registered investors will be organized to visit their favored cities or industrial parks and seek cooperation with local enterprises.


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