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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.
 
Third, the forms of exhibitions were diversified. Exhibitors not only showcased their regional investment climates, projects and commodities, but also their images and investment opportunities. During the CIFIT, shows were held to mark China’s ten-year WTO membership.
Poland, Hong Kong and Macao hosted rich and colorful “Country/Region Pavilion day” events. Qinghai, “the Province of Honor”, presented a wide array of events, including opening ceremonies, displays and demonstrations, project promotion, cocktail parties, and commodity exhibitions.
 
III. A Mega Rostrum for Releasing Global Investment Information
 
This year’s CIFIT included 64 high-level seminars and forums on hot topics relating to “Attracting FDI” and “Going Global”. More than 400 dignitaries from 40 countries and regions shared their observations and insights at the seminars and forums with audiences of 20,000. Overall, these events stayed tuned to hot socioeconomic topics. There were three major highlights:
 
First, the forums were highly authoritative as they were hosted by national authorities. Dubbed the “barometer” of international investment, the International Investment Forum 2011 held on September 8 at Xiamen International Conference Center was one of the most hotly anticipated events during the fair. This year, with the theme of “China’s 10 Years of WTO Membership -- Opening, Cooperation and Win-win Results”, the forum featured a series of speeches delivered by Chinese and foreign government officials, including Chen Deming, China’s Minister of Commerce; 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. The International Investment Forum has become a vital forum for China to introduce its opening-up policy and release investment information, and for all participating countries to share international investment experience and promote investment.
 
During the CIFIT, the Ministry of Commerce hosted 22 seminars and forums on hot topics relating to “Attracting FDI” and “Going Global”. Attendees explored anti-trust legislation, lease investment and financing, service outsourcing statistics, financial support of enterprises to go global, international trade frictions, government procurement, and cooperation among international parks.
 
Second, professional organizations played a greater role, and the CIFIT’s professional organizing and marketing capabilities further improved. During the CIFIT, Sina.com and China Business News played an instrumental role in organizing the Gulangyu Forum for Fujian Entrepreneurs. China Real Estate Post was involved in organizing the second World Property Forum for Chinese Entrepreneurs. Forums organized with the help of professional organizations include the Power Capital Forum, the Fortune Golden Harvest (the sixth Asian Investment Funds Summit), China Unicom Financing Forum (the 2011 Global PE Journey of China and second West Taiwan Straits Growth Enterprise Development Forum), the Agricultural Bank of China Forum, the Huaxia Times 2011 China Commerce and City Development High-level Saloon, and the China Economic Weekly 2011 China Innovative Society Management Forum. There forums with clearly defined themes were highly rated by participants.
 
Third, domestic and overseas hosted a vast array of promotional events at the CIFIT. At this year’s CIFIT, 22 countries and regions, including India, Russia, Jordan, Lithuania, the United Arab Emirates, Brazil, and Zimbabwe, as well as 20 Chinese provinces and cities hosted seminars to promote their investment climates and showcase their investment projects.
 
Sponsored by the Overseas Chinese Office of the State Council, the 5th Summit for Investment by Oversea Chinese Merchants attracted representatives from 30 countries and regions, 103 Chinese business groups, and 641 overseas Chinese merchants. The World Chamber of Commerce Leadership Roundtable and the 2011 Cross-Strait Transportation and Logistics Investment Fair drew more than 30 business leaders from 14 countries and regions to explore "the development of port logistics and innovation". The 8th China (Xiamen) International Sister City Mayors Forum explored "low-carbon economy and urban management". The 2011 “Wal-Mart President and Star City Mayor Dialogue” created a one-stop opportunity to for Mal-Mart to tap further into the market. The CIFIT’s information release platform for investment and role in international investment promotion were fully exploited.
 
IV.   A Mega Incubator for Global Investment Projects
 
Statistics show that the 15th CIFIT saw agreements on 493 investment projects, involving a total investment of USD 21.45 billion and foreign funds of USD 17.37 billion, including 339 contracted projects with a total investment of USD 13.01 billion and foreign funds of USD 10.46 billion; among the projects, 226 ones were each worth more than USD 10 million.
 
This year’s CIFIT also saw increased enthusiasm among Chinese enterprises for “going global”. They signed 22 “going global” projects with a combined investment of USD 154.2798 million, including USD 127.0268 million for Chinese sources. Among these projects are 20 contracted projects with a combined investment of USD 151.7798 million, including USD 125.0267 million from Chinese sources; and 16 projects involved a Chinese investment of more than USD 1 million, with total Chinese investment reaching USD 124.7113 million.
 
This year’s CIFIT further strengthened matchmaking among industries and regions. They were focused on matchmaking services in the four areas:
 
First, matchmaking services for the themes of “attracting FDI” and “going global”. At “Attracting FDI” project matchmaking symposia, more than 3,000 investment institutions, 300 patent holders, and nearly 4,000 project owners took part in the symposia. A total of 12000 matchmaking sessions were successful held, and 49 deals were signed, involving USD 1.90107 billion and RMB 203 million. At the matchmaking symposia for “Chinese enterprise going global”, 133 overseas organizations from 52 countries and regions set up negotiation desks. More than 1,000 interested Chinese enterprises took part, signing 15 letters of intents, involving USD 670 million.
 
Second, greater matchmaking services for industry-specific investment projects. More than 10 investment project matchmaking symposia for patented technology and major regions were held over a five-day period during the CIFIT. This year’s project matchmaking symposia were further enhanced and became more specialized. There were 10 specialized matchmaking symposia for patented technology, Taiwan-funded enterprises, emerging industries, investment mutual funds, leading investment destinations, listed companies, and Chinese provinces and U.S. states, as well as road shows for premium projects, and 46 dialogues between 20 investment firms and governors and 20 mayors.
 
Third, onsite matchmaking symposia. To facilitate communications and interaction, for the first time, an onsite matchmaking service area was set up, providing consulting services for nearly 1,600 domestic and overseas entities. The organizing committee also conducted onsite matchmaking for 1,200 enterprises and guided business representatives to take part in matchmaking sessions.
 
Fourth, matchmaking services at the “permanent online CIFIT”. The 15th CIFIT continued to make the best use of the “CIFIT Online” platform and hosted online business promotion seminars and online project roadshows. A variety of methods were introduced to disseminate project information, promote business ties, facilitate business talks, build a project pool, and enhance investment training. These initiatives tapped both “tangible” and “intangible” assets and enable businesses to capitalize on CIFIT resources.
 
V.    A Mega Bridge for Cross-Straits Investment Cooperation
 
This year’s CIFIT included a large series of Taiwan-oriented events aimed at promoting economic and trade exchanges and cooperation across the Taiwan Straits. More than 4,016 Taiwanese business professionals joined this year’s CIFIT, the highest among overseas visitors. Over 100 Taiwan business organizations participated in this year’s CIFIT, including Chinese KMT Vice Chairman Lin Feng-cheng, Taiwan Federation of Industries, Taiwan Business Association, Taiwan Business Research Society, Taiwan Electrical and Electronic Manufacturers Association, the Taiwan Industrial Association, and Taiwan Cross-Strait Common Market Foundation. There were three highlights in this regard:
 
First, rich Taiwan-oriented exhibitions reflected the results of cross-strait cooperation and construction of the Straits. Held in conjunction with the CIFIT, the seventh Strait Travel Fair effectively promoted cross-strait tourism products, tourist routes, tourist marketing, promotional and other areas of substantive cooperation. The third Chinese Property Investment Fair further expanded the cooperation of both sides in land development. In addition, the Pingtan comprehensive experimental zone, Fuzhou, Putian, Quanzhou, Zhangzhou and other cities also staged high-profile exhibitions, reflecting the faster pace of the development of the West Taiwan Economic Development Zone.
 
Second, special events were targeted at Taiwan and cross-strait industrial matchmaking proved fruitful. During the fair, by the Ministry of Commerce and the Taiwan Affairs Office of the State Council held the sixth Cross-Straits Economic and Trade Cooperation and Development Forum, where prominent academics and business professionals explored the "two-way investment promotion and industrial cooperation" in depth. Phoenix New Media and Xiamen Daily hosted the Straits Financial Forum to explore investment strategies and opportunities under high inflation and to promote cooperation in the financial sector. The Taiwan Chinese Information Software Association hosted a forum to explore the trends of smart cities. The Cross-Strait (Quanzhou) Procurement Fair saw a total of 72 agreements signed, with total investment and purchases and sales amounting to RMB 2.597 billion. In addition, agricultural investment project matchmaking symposia saw successful matches between 45 Taiwan enterprises and 300 mainland firms, and a total of 28 agreements were signed, with contracted capital of USD 230 million.
 
Third, room of cross-strait cooperation was expanded and friendship between compatriots on both sides was consolidated. At this year’s CIFIT, the organizing committee invited many Taiwan businessmen to attend the networking events. These events further expanded cross-strait exchanges and cooperation.
 
CIFIT continue to capture Chinese and foreign media attention. A total of 298 domestic and foreign media with 1478 correspondents participated in the CIFIT, including  the U.S. International Market News, U.S. Bloomberg, Reuters UK, the Japanese Ecnomic News, Japan's NHK national television, Hong Kong Phoenix TV, Macao Daily, China Times, ETTV, as well as the People's Daily, Xinhua News Agency, China Central Television (the main channel), the Central People's Broadcasting Station, China Radio International, Guangming Daily, Economic Daily, China Daily, China news agency, First Financial, 21st Century Economic Report, Economic Information Daily, Beijing Review, Securities Daily, International Finance, in addition to nearly 50 national mainstream media organizations, including People, Xinhua, Sina, Tencent, Sohu, Phoenix, China Daily, the South East network, Xiamen and other national and local network portals. There were more than 14,000 news reports on this year’s CIFIT, turning it into the center of attention in the world.
 
The comprehensive logistical support for this year’s CIFIT further improved, allowing all events to proceed smoothly. As the hosts, Fujian and Xiamen gave high priority to the logistical support for the events and provided meticulous services in security, transportation, accommodation, food, hygiene, and exhibition staging.
 

The 16th CIFIT is scheduled for September 8-11, 2012 in Xiamen with the opening of the third phase of the Xiamen International Conference and Exhibition Center. Let’s meet again on this Island of Egrets in September next year.  

Wish the complete success of the 15th China International Fair for Investment and Trade!
 
The 15th China International Fair for Investment and Trade is officially opened this morning. We hold the warmest congratulations to the opening of the event. This CIFIT has largely improved its functionality as well as the international impact. The ‘BRICS’ countries will make their first joint apperance in this CIFIT, providing a great opportunity and communication platform for other countries to understand the investment environments in‘BRICS’countries and seek mutual development. In addition, the activities for Taiwan are very attractive. The 7th Cross-Strait Travel Fair will also be held, aiming to create a common travel market. Furthermore, this CIFIT is innovative as well. Moreover,Serials of activities hosted by the ‘Province of Honor’Qinghai;‘Star City’Hamburg and Kwangyang will be another highlight of this CIFIT.

 

 

 

 

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