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15th CIFIT Press Release

The 15th CIFIT closed in Xiamen

     cheqiu     2011-9-19 15:25:00    

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The 15th China International Fair for Investment and Trade (CIFIT) closed in Xiamen, China on September 11 after five days of proceedings.
 
The 15th CIFIT received strong backup from the Party and government leaders. Wu Banggu, a member of the Political Bureau of the CPC Central Committee and chairman of the Standing Committee of the National People’s Congress (NPC), launched the fair with the “Golden Key” and toured the exhibition. It was his second visit to the CIFIT. He was joined by g Li Jianguo, Deputy Secretary-General of the NPC Standing Committee and Wu Yi, former Vice Premier of China. A total of 79 ministerial- and governor-ranking officials attended the CIFIT, including Chen Deming, Minister of Commerce; Yu Guangzhou, Director of the General Administration of Customs; Bai Zhijiang, Director of the Liaison Office of the Central Government in Macao; Shen Chunyao, Deputy Secretary-General of the NPC Standing Committee.
 
Compared with previous years, this year’s CIFIT was characterized by a higher level, richer content, a sharper international focus, greater specialization, more substantial results, improved functions, more meticulous organizing, enhanced services, and stronger logistical support. It had the following five highlights:
 
I.     A Mega Platform for Promotion of International Exchanges and Investment
 
This year marks the fifteenth anniversary of the CIFIT, the tenth anniversary of China’s accession to the WTO, and the inaugural year of the China’s Twelfth-Five Year Plan. Thus, the year’s CIFIT attracted more attention than ever. A total of 430 senior foreign government officials, principals of international organizations, heads of chambers of commerce, executive of multinational companies, and renowned experts and scholars attended the CIFIT. Dignitaries attending the CIFIT included D. M. Jayaratne, Prime Minister of Sri Lanka; Fonotoe Nuafesili Pierre Lauofo, Deputy Primer Minister of Somoa; Kandeh Yumkella, Director-General of the United Nations Industrial Development Organization; Hisao Sakuta, Chairman of OMRON Corporation; Edmund S Phelps, winner of the 2006 Nobel Prize for Economics; and James Mirrlees, winner of the 1996 Nobel Prize for Economics, will speak at the International Investment Forum.
 
Statistics show that a total of 15,118 overseas visitors from 112 countries and regions attended this year’s CIFIT, and that 636 overseas organizations from 108 countries and regions sent dispatched delegations to the fair. There were four highlights:
 
First, developed nations had a larger presence at the fair. More visitors came from developed nations and major capital source countries, such as the U.S., Japan, Germany, Britain, Switzerland, the Netherlands, and the Republic of Korea. Officials from Hamburg, Germany, and Kwangyang, Republic of Korea, hosted a series of events as “star cities”. Officials from the U.S. and Britain held briefings on their investment climates. The active involvement of developed countries demonstrated the vitality of the CIFIT.
 
Second, emerging economies were actively involved. High-ranking officials from the BRICS countries (Brazil, Russia, India, China and South Africa) led exhibitor delegations with a view to seeking business opportunities. It was the first collective appearance of all the BRICS countries at CIFIT, facilitating opportunities for other countries to invest in the BRICS countries.
 
Third, Asian and African countries and regions attracted greater attention. Viet name, Cambodia, and Bengal sent delegations to the CIFIT, the world’s largest international investment promotion event, in search of opportunities. Thirty four African nations with diplomatic relations with China also took advantage of the CIFIT to showcase their investment climate.
 
Fourth, international economic organizations made a collective appearance. During this year’s CIFIT, ten international organizations, including the United Nations Industrial Development Organization, the United Nations Conference on Trade and Development, the Organization for Economic Cooperation and Development, the World Association of Investment Promotion Agencies, the United Nations Economic and Social Commission for Asia and the Pacific, and the World Trade Center, hosted investment promotion events. The High-level China-Africa Investment Cooperation Workshop, held jointly by the United Nations Industrial Development Organization and the Ministry of Commerce, further consolidated the economic and trade partnership and long-standing friendship between China and Africa.
 
With more Chinese enterprises venturing into the global market, the CIFIT drew over 55,000 domestic trade visitors from a significant number of enterprises, including China International Capital Corporation, Bank of China, Wanda, Zijin Mining, and HiSense, as well as many other enterprises affiliated with the Central Government and private businesses.
 
II.    A Mega Stage for Showcasing Images and Exploring Opportunities
 
The year’s CIFIT was staged over the course of five days, a day more than previous editions. A total of 37 member institutions and 683 domestic and foreign government agencies, chambers of commerce and trade associations showcased their images and products. There were three highlights in this regard:
 
First, more foreign countries and regions were represented at the CIFIT. A total of 62 countries and regions and 122 overseas government agencies stage exhibitions at the CIFIT. Russia, India, Bahrain and Bengal hosted exhibitions at the CIFIT for the first time ever.
 
Second, the level of specialization was raised. During the CIFIT, five specialized exhibitions were staged, including the seventh Straits Travel Fair, the third China International Fair for Investment in Property, the 2011 China Entrepreneurial Chains Exhibition, and the 2011 China International Exhibition of Energy Conservation, Environmental Protection and Alternative Energy, and the 2011 China Tea Expo.

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