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The 11th China International Fair for Investment & Trade

  The 11th China International Fair for Investment and Trade (CIFIT), following four days of exhibitions, displays, forums, seminars and matchmaking symposium, completed all agendas and closed in Xiamen, Fujian, China on the afternoon of September 11.

Wu Yi, member of the Politburo of the CPC Central Committee and Vice Premier launched the fair for the seventh time. Xu Jialu, Vice-Chairman of the Standing Committee and the National People’s Congress, and Zhang Kehui, Vice-Chairman of the Chinese People’s Political Consultative Conference, as well as 90 officials of a vice-ministerial or higher rank from related agencies under the State Council, national institutions, industry associations, chambers of commerce and CIFIT members, attended the CIFIT. Ho Hau Wah, Chief Executive of Macao Special Administrative Region, also headed a delegation to the CIFIT. The CIFIT also attracted more than 550 senior foreign government officials, including Aigars Kalvitis, Prime Minister of Latvia; Mia Mottley, Deputy Prime Minister of Barbados; and Kursa Tuzmen, Minister of State of Turkey; as well as heads of international organizations, industry associations and chambers of commerce, and presidents and vice presidents of multinational companies.

The 11th CIFIT attracted a record number of 13,158 overseas visitors from 119 countries and regions.

With the active involvement of the all segments of society and domestic and foreign enterprises, the 11th CIFIT featured a greater scale, a higher standard, a richer content, stronger professionalism, more remarkable practical results, a strong international focus, a fuller ranger of functions, a more elaborate organization, and stronger logistical support. Statistics show that the delegations signed agreements on 1,070 investment projects in all categories, involving a total investment of USD 22.99 billion and committed foreign capital of USD 19.01 billion. Of these projects, 699 are contract projects, involving a total investment of USD 12.29 billion and committed foreign capital of USD 9.62 billion; and 269 projects have a value in excess of USD 10 million.

Overall, the 11th CIFIT showed the following major characteristics:

I. The CIFIT has become a window on the investment climates and policies and market opportunities in countries and regions around the world

In an effort to strike a balance between inward and outward investments, the 11th CIFIT, in line with its mission of “promoting trade with investment and stimulating investment with trade”, added an exhibition area for import commodities. Turkey, Thailand, Italy, Spain and Caribbean nations showcased their characteristic commodities, capturing strong attention from visitors and opening an express channel for high-quality foreign commodities to tap into the Chinese market. The Overseas Exhibition Hall covered more than 10,000 square meters and attracted businesses and institutions from 65 countries and regions.

Turkey, Sweden, Canada and Hong Kong hosted colorful pavilion day activities. The Photographic Show on the Caribbean Investment Climate and China-Caribbean Economic and Trade Cooperation showcased the customs, specialty products, landscapes and investment climates of the Caribbean nations and demonstrated the friendship between China and Caribbean countries.

A total of 32 countries and regions, including the United States, Germany, Costa Rica, Canada and Spain, hosted briefings and seminars to introduce their respective investment climates. More than 400 dignitaries from nearly 40 countries spoke at 72 forums, seminars and symposiums, attracting a combined audience of more than 12,000.

The 2nd China-Caribbean Economic and Trade Cooperation Forum and its related events became a highlight of the 11th CIFIT.

II. Forum seminars featured a higher standard, strong timeliness and greater influence, making the CIFIT a major channel for exploring measures for promoting international investment and multilateral economic and trade exchanges and cooperation.

The 11th CIFIT provided 80 high-level forum seminars themed around “introducing FDI” and “going global” and cooperation and exchanges across the Taiwan Strait.

The International Investment Forum continued to be the center of attention among attendees. Wu Yi, member of the Politburo of the CPC Central Committee and Vice Premier delivered the keynote speech entitled “Achieving Mutual Benefits and Winning for All in Common Development”. Dignitaries including Aigars Kalvitis, Prime Minister of Latvia; Mia Mottley, Deputy Prime Minister of Barbados; Kursa Tuzmen, Minister of State of Turkey; Zoran Stavrevski, Vice President of Macedonia; Zhou Xiaochuan, Governor of the People’s Bank of China; and Kursa Tuzmen, Minister of State of Turkey, delivered wonderful speeches. The International Investment Forum has become an authoritative platform for China to introduce its opening-up and reform policies and release investment information and an important venue for sharing experiences and international investment and promoting international investment.

During the CIFIT, the Ministry of Commerce hosted 32 seminars on hot topics relating to international investment, such as “attracting FDI” and “going global”, provided in-depth analyses of the trends in the service outsourcing industry, the trends of the development of investment funds, the trends of cross-border mergers and acquisitions and property title transactions, the expansion of China’s private capital, and the involvement of developing nations in global economic cooperation.

III. The project matchmaking symposium has further strengthened professional setup, expanded its scale, and improved practical results of business talks, making the CIFIT the best “incubator” for capital and investment projects.

The number and scale of project matchmaking symposiums at the 11th CIFIT have further expanded, and a transportation project matchmaking symposium, a service outsourcing project matchmaking symposium, and a high-level government-to-enterprise matchmaking symposium were added, with significant results achieved.

At the matchmaking symposium for FDI projects, 419 domestic and overseas investment agencies and 102 brand-name chain operators provided nearly 5,000 projects for matchmaking, with agreements reached on 14 projects, involving total investments of USD 192.2 million and RMB 105 million. Moreover, investment intents were reached on 11 projects, involving an investment of USD 159 million. In the matchmaking symposium for Chinese enterprises “going global”, 102 overseas institutions from 95 countries and regions engaged in talks 532 Chinese enterprises intended to make investment and seek growth abroad, with intents reached on 63 projects, involving a total investment of USD 557 million.

At the Transportation Projects Matchmaking Symposium, 27 investors in the transportation sector explored more than 200 projects. At the High-level Government-to-Enterprise Matchmaking Symposium, 12 renowned investment institutions, including the US-based Carlyle Group, IDG and Keating Investment, held 23 talks with delegations from Chongqing, Fuzhou, Chengdu, Inner Mongolia, Shenzhen and Sichuan. At the Private Enterprises’ Investment Projects Matchmaking Symposium, 44 competitive Chinese enterprises unveiled more than 500 key investment projects.

IV. The CIFIT has become a vital channel for deepening the exchanges and cooperation across the Taiwan Strait and for achieving mutual benefits and common prosperity.

The 11th CIFIT continued to receive an overwhelming response from the Taiwanese business community, attracting more than 4,100 visitors from Taiwan, the highest number among overseas visitors. Nearly 90 Taiwanese business groups took part in the CIFIT.

The 3rd Strait Travel Fair, held to coincide with the CIFIT, effectively promoted substantive cooperation among the mainland, Taiwan, Hong Kong and Macao as well as participating nations in the development of tourism productions, tour routes, customer market and promotions. By extensively inviting Taiwanese business people to take part in social gatherings at the Fair, the potential for exchanges and cooperation between the two sides of the Taiwan Strait has been further tapped.

V. The innovation and growth of its organizational structure have further enhanced the operating mechanism and standard of the CIFIT.

The governments of Hong Kong and Macao Special Administrative Regions and the China Transportation Association officially joined the CIFIT as new members, bringing the total number of members from 49 last year to 52. During the CIFIT, the Organizing Committee and the Macao Trade and Investment Promotion Institute signed a memorandum of understanding on cooperation, under which the Macao International Trade and Investment Fair and the CIFIT forged a cooperative tie and became “partner fairs”. This will lay a solid foundation for the CIFIT to become a truly international investment exposition.

The 11th CIFIT also attracted 1,385 journalists from 416 domestic and overseas media organizations. The extensive coverage of the CIFIT has further improved the influence of the CIFIT. Incomplete statistics show that the journalists wrote more than 10,000 reports on the CIFIT.

The 12th CIFIT is scheduled for September 8 to 11, 2008 in Xiame, China.


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