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14th CIFIT Press Release

The four-day 14th China International Fair for Investment and Trade (CIFIT) concluded on the afternoon of September 11, 2010 in Xiamen, Fujian, China.


This year’s CIFIT received strong support from the leadership of the State Council. State Councilor, State Council Secretary-General and Vice President Xi jinping activated the “golden key” to open the 14th CIFIT and toured the exhibition. Iceland President Olafur Ragnar Grimsson, Mozambique Prime Minister Aires Ali, Bulgaria Vice President Angel Marin , Ghana Vice President John Dramani Mahama, Peru Vice President Luis Giampietri Rojas, Jamaica Speaker of the House Delroy Chuck, Mongolia Vice Prime Minister Miyeegombo Enkhbold, Zimbabwe Vice Prime Minister Arthur Mutambara, Director-General of the World Trade Organization Pascal Lamy, Secretary General of UNCTAD Supachai Panitchpakdi and Chief Executive of Macao Special Administrative Region Fernando Chui attended the 14th CIFIT.


A total of 98 Chinese officials at or above the ministerial rank also attended the CIFIT, including Chen Deming, Minister of Commerce; Zhi Shuping, Director of the General Administration of Quality Inspection, Supervision and Quarantine; Wangyi, Taiwan Affairs Office of the State Council; Shang Fulin, Chairman of the China’s Securities Regulatory Commission; Wang Guangya, Party secretary and Vice Minister of the Ministry of Foreign Affairs; Bai Zhijian, Director of the Macao Liaision Office; Sun Chunlan, Secretary of the CPC Fujian Provincial Committee; Huang Xiaojing, Governor of Fujian; Wang Sanyun, Governor of Anhui; Guo Maogeng, Governor of Henan and other officials in related departments.


Thanks to the concerted efforts of all related parties, this year’s CIFIT had a greater scale, richer contents, more events, stronger specialization, sharper focus upon internationality, more prominent Taiwan-oriented features, more substantial results, and increased influence. It featured six highlights:


I. Extensive Participation and Improved International Investment Functions


As the world’s largest international investment promotion event, this year’s CIFIT drew a wide attention and participation from all over the world. According to statistics provided by the Organizing Committee, 15,581 foreigners from 144 countries and regions, 627 foreign organizations from 108 countries and regions attended the fair. There were also 39 minister-level officials including Rob Davies, Minister of South Africa Trade and Industry Ministry, Youssouf Abassallah, Minister of Chad Trade and Industry Ministry, 60 deputy minister-level officials including Robert Hormats, Under Secretary of State for Economic, Business, and Agricultural Affairs, Vincent Cable, Secretary of State for Business, Innovation and Skills Incumbent, Don Stephenson, Deputy Minister of the Department of Foreign Affairs and International Trade, over 20 top officials of the international organizations, over 300 senior executives of the multinational companies, about 50 international senior experts and scholars and over 400 officials of investment promotion organizations from all around the world. The numbers of the countries involved, foreign delegations and foreign businessmen all reached a record height.


This year’s CIFIT attracted a lot of attention of people from the related departments and the industrial, commercial and educational arenas in China, who participated in CIFIT actively. Those included the commissions under the State Council, national organizations, governments from the provinces, autonomous regions and municipalities directly governed city regions, numerous large-size state-owned enterprises, renowned private enterprises, listed companies and 43,187 domestic businessmen.

II. Larger scale, enriched exhibition, and stronger specialization make CIFIT a big platform for image and business potential exhibition of countries and regions all around the world.


This year’s CIFIT featured a record 3,214 international standard booths, 400 more than last year .The exhibition had three characteristics.


1. Enriched events on the pavilion days


This year’s CIFIT launched the “Province Honor Day”, the “Star Cities Day” the “Corporate Pavilion Day” for the first time. A series of events hosted by Henan Province, Shenyang City, Wenzhou City, Wal-Mart and Air China further enriched the exhibition at CIFIT. Italy, Iran, Malaysia, Hong Kong and Macao and other countries or regions all held colorful and special events on the pavilion days, which strengthened publicity and the actual effect of negotiations.


2. More mature specialized exhibitions


This year’s CIFIT focused on specialized exhibitions and industry investment promotion, with great attention to tourism (the 6th Straits Travel Fair), property (the 2nd China Property Investment Fair) and energy-conservation (the 2010 China International Energy-Conservation and Environmental Protection and New Energy Exhibition). The more mature specialized exhibitions were successful experiments on facilitating the investment promotion of industries at CIFIT, showing a further step towards the holding of specialized exhibitions.


3. Improved function of negotiations


At this year’s CIFIT, the participants laid emphasis on a combination of image exhibition and project matchmaking negotiation in the booth’s arrangement to create a better negotiation atmosphere and improve the effects of negotiations.


III. More emphasis on industry promotion and the first on-line CIFIT accentuating CIFIT’s role as a never-ending matchmaking platform for projects and capital


Compared with the previous CIFIT, greater space and more opportunities were created for deep cooperation of the participants around the world. The exhibitors and visitors took part in the symposiums more actively, producing rewarding results. According to the statistics, the delegations attending CIFIT signed 639 investment projects involving a total amount of $22.41 billion, a 41.5 percent increase over last year; the utilized foreign capital totaled $19.24 billion, a 43 percent increase over last year. Among the projects, there were 484 contracted projects involving a total investment amount of $12.24 billion, 39.3% higher than last year; the utilized foreign capital amounted $9.96 billion, 22.2% higher than last year, including 265 projects involving more than 100 million dollars. The fruitful result shows that China is still the most attractive global investment destination and the premier choice of the multinational companies for indirect investment.


At this year’s CIFIT, Chinese enterprises were more excited about going global to invest. According to the statistics, 21 “going global” projects were signed involving a total investment amount of $116.769 million including $115.539 million from Chinese enterprises. Among the signed projects, there were 16 contracted projects involving a total investment amount of $23.649 million including $22.419 million from Chinese enterprises, of which were 6 ones involving one million dollars. For example, the cooperation project between the Hebei Yuanda Foundation Group Limited and Laos New Century Investment Company totaled $10 million dollars. Required by Tangshan City, the first specialized matchmaking symposium of Tangshan City enterprises going global was held.


As an innovation of the traditional mode of the investment promotion exhibition business, this year’s CIFIT launched online CIFIT (www.cifit.cn). Using 3D technology and the concept of network community, CIFIT provided a 24-hour service online, breaking time and space limits of the traditional exhibitions. CIFIT became a never-ending platform for investment promotion with online and offline services.


IV.Focus on Global Economic Hotspot and Flow of International Capital


The 14th CIFIT is featured with rich connotation, diverse types of organization and substantial results. It has become a platform for policy release, information interaction and academic discussion. During this year’s CIFIT, 47 high-end forums and seminars were organized on the topic of international investment hotspots and themes of “attracting FDI” and “going global”. About 750 guests from China and abroad delivered speeches with over 20000 audiences present. It acted more prominently as the barometer of the development of world economy.


At this year’s CIFIT, the Ministry of Commerce hosted over 20 forums and seminars. Among these are the Special Forum on Financial Support for “Outbound Investment” by Chinese Enterprises and the Release Conference of Country Reports on China’s Outward Investment Promotion which pointed out the direction for Chinese enterprises, the China Accession to the WTO Agreement on Government Procurement and the Seminar on WTO Trading System and Business Development on the WTO topics, the Workshop on Actively Responding to Trade Friction, Accelerating the Transformation of Economic Development Pattern and Structural Adjustment, the Foreign Countries/Reigns Investment Climate Briefings and the 2010 Outward Investment and Risk Management Forum on those hot topics such as trade friction and investment risk. Other forums and seminars opened centering on antimonopoly laws, energy conservation and environmental protection, service outsourcing. In addition, the Country Report on China’s Outward Investment Promotion and the Communiqué on China’s Foreign Direct Investment 2010 unveiled at the CIFIT, drawing great attention all over the world.


"Low-carbon economy” became a key word of this year’s CIFIT. At the World Leadership Forum for Chambers of Commerce 2010, the participants discussed ways to promote global economic recovery on the topic of low-carbon economy. The 4th Seminar on Investing in China by Overseas Chinese Merchants also shared the investment experiences of its participants and talked over environmental-friendly models of civil development thorough TV interview.


In addition, other forums and seminars were organized, including the Capital Forum 2010, World Property Forum for Chinese Entrepreneurs, the“Shining Zhejiang Merchants”-Zhejiang Merchants at CIFIT, Global PE China Tour 2010, the “Tide of Heisey” Economic Forum and Gulangyu Forum on Fujian Entrepreneurs, all of which generated a lot of interest.


At the 14th CIFIT, over 20 countries and regions attended the fair and hosted the Investment Climate Briefing, including America, Poland, South Korea, Iceland, Italy and Hong Kong. In addition, other Briefings and Investment Promotion Meetings were hosted by China’s internal districts and provinces, such as Beijing, Xinjiang and Pudong. Taiwan and Shandong held the Real Estate Promotion Meeting for the first time.


V. Thanks to ECFA, the CIFIT has become an important stage for cross-strait exchange and cooperation and win-win prosperity.


This year’s CIFIT meets the signing of ECFA, and it is also the 1st anniversary of the carry out of “Several Opinions of the State Council of the PRC on Supporting Fujian Province to Accelerate the Building of the Economic Zone on the West Coast of the Taiwan Straits”. People from all sectors of Taiwan are very active at the CIFIT. Nearly 100 industrial and commercial associations of Taiwan also participated in and the number of Taiwan traders reached 3,800, topping the overseas traders.


The Cross-strait Economic and Trade Cooperation Forum, which was sponsored by MOFCOM and the Taiwan Affair Office of the State Council, was themed on ECFA and cross-strait development, development opportunities for cross-strait companies and the cross-strait economic and trade relation. Mainland China and Taiwan is expected to establish a new economic model for trade cooperation.


At the same time, the 6th Straits Travel Fair greatly promoted the cooperation among mainland China, Hong Kong, Macau and Taiwan and other countries and regions taking part in the fair in traveling products, traveling routes, tourist market and propaganda. The establishment of cross-strait market and trade channel were impelled by the “investment-inviting quarter of Taiwan cities and counties” and the “Taiwan Commodities Quarter”. The 2nd China International Property Fair created Taiwan quarter for the 1st time. Taiwan Land Development Company led Taiwan developers to participate in and invite investments, which has a profound significance in cross-strait land cooperation.


At the Matchmaking for Internet of Things & Forum on Industry Development Trends and 2010 Cross-strait Forum on Drinking Water Safety and Health, professionals discussed about the cross-strait internet of things and water resource explore. Matchmaking and procurement of Taiwan-funded enterprises, Taiwan agricultural enterprises and cross-strait farm products was held successfully. The Cross-straits (Siming, Xiamen) Friendship Party intertwined the cross-strait fellowmen.


VI. Global media paid great attention to the CIFIT. Perfect service guarantee made Xiamen an ideal place for international exhibition.


This year’s CIFIT attracted 1576 reporters from 308 famous media organizations both at home and abroad, including the Reuters, the Bloomberg News, the Market News International of America, NHK National TV of Japan, Phoenix Hong Kong, South China Morning Post, Macau TV, China Times of Taiwan, United Daily and Eastern Multimedia. Some media came for the 1st time, such as Ghana, Mozambique, Mongolia, Turkey and Brazil. Many presses gave the fair wide coverage, including Xinhua News Agency, People’s Daily, CCTV (main channels), CNR, Economic Daily, China Daily, China News Agency, CRI, CBN, 21 Century Business Herald, Economic Observer News, Global Times, Sina.com and Sohu.com. According to incomplete statistics, the media taking part have published over 13,000 pieces of news. The great attention and wide coverage of domestic and foreign media have endowed the CIFIT with a high reputation and great influence, making it a universally approved international investment fair.


This year’s CIFIT at the same time with the 2nd World Investment Forum sponsored by UNCTAD. The CIFIT receipted many important guests, including state heads, government leaders and officials, supervisors of international organizations and visitors from the sectors of industry, commerce and academy. It is the first time for an international summit to be held hand in hand with the CIFIT. Xiamen thus is faced with the great challenge of new form, high requirement and great difficulty in guarantee service. With the guidance of related ministries, the MOFCOM, Fujian Provincial Committee Party, Fujian Provincial Government, CPC of Xiamen, and the municipal government of Xiamen, the Organizing Committee provided the fair with perfect guarantee service: accurate cohesion of events, perfect conference support, first-class technical guarantee, all-round safeguard, unique and circumspect catering, ensured emergency support, and entirely new reception system. The CIFIT is greatly applauded by state leaders and Supachai, secretary general of UNCTAD. Xiamen has become an ideal place for international exhibitions.


In addition, a series of supporting events have been held during the CIFIT, including the welcome banquet and reception, fireworks display and the banquet hosted by 99 real estate companies. The unique charm of Chinese culture was fully presented to the guests. The guests had a pleasant and unforgettable spiritual enjoyment, and they gave the CIFIT unanimous approval.


The 15th CIFIT will be held from Sept. 8th to 11th, 2011 in Xiamen. See you next September on the Egret Island.

 

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