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News Release for the Conclusion of the 10th CIFIT

The 4-day 10th China International Fair for Investment & Trade (CIFIT), which is sponsored by China's Ministry of Commerce (MOFCOM), and co-sponsored by the United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization (UNIDO), Organization for Economic Cooperation and Development (OECD), the International Finance Corporation (IFC), the World Association of Investment Promotion Agencies (WAIPA) and China International Investment Promotion Association (CIIPA), concluded today with fruitful results.

This fair proceeded with strong support and encouragement from officials from the CPC Central Committee and State Council. Madam Wu Yi, Member of Political Bureau of the CPC Central Committee and Vice Premier, joined the CIFIT for the sixth time where she turned the golden key to signifying the opening of the fair and delivered keynote speeches at both the "International Investment Forum" and "Forum for Cross-Straits Economic Cooperation and Development". She also hosted the "Seminar on Multinational Companies 2006" and presented the “Awards for the Best Overseas Cooperating Institutions of CIFIT" to five overseas co-sponsors of the CIFIT. Madam Wu Yi highly commended the fair, pointing out that the CIFIT had become an "influential major international investment promotion fair". The CIFIT showed the great success of the Chinese reform and opening-up campaigns. The CIFIT has become a bridge for consolidating cooperation and development across China and the world.

Mr. Luo Haocai, Vice Chairman of CPPCC, Lu Zhanggong, Secretary of CPC Fujian Committee, Mr. Huang Xiaojing, Governor of Fujian Province, Mr. Shi Guangsheng, Deputy Director of Finance Affairs Committee of China National People's Congress, Vice Secretary General of the State Council Mr. Xu Shaoshi, Mr. Li Changjiang, Director General of General Administration of Quality Supervision, Inspection and Quarantine of the PRC, Standing Vice Minister of Finance Lou Jiwei, Mr. Qiu Xiaohua, State Audit Bureau, Standing Director Gerenal of the Taiwan Affairs Officce of State Council Zheng Lizhong, Director General of National Tourism Administration Mr. Shao Qiwei, Vice Minister of General Administration of Customs Sheng Guangzu, Vice Minister of MOFCOM Ms. Ma Xiuhong, Vice Minister of MOFCOM Mr. Liao Xiaoqi, Vice Minister of Public Health Huang Jiefu, Vice Minister of Information Industry Lou Qinjian, Vice Minister of Science and Technology Shang Yong, Deputy Director of SASAC, Mr. Huang Shuhe, Deputy Director of NDRC Mr. Du Ying, Vice Minister of State Taxation Administration Wang Li, Deputy Director of State Administration of Industry and Commerce Li Dongsheng, State Intellectual Property Office (SIPO) Tian Lipu, State Food & Drug Administration Shao Mingli, Deputy Director General of State Environmental Protection Administration Wu Xiaoqing, Deputy Dierctor General of State Administration of Exchange Mr. Deng Xianhong, Mr. Liu Hongru from CSRC, Mr. Miao Gengshu, Chief of the CCIIP, Mr Zhang Wei, Deputy Chief of CCPIT, Mr. Xie Boyang, Vice Chairman of All China Federation of Industry and Commerce, Mr. Hu Fuguo, Chairman of China Association for Poverty Alleviation and Development, and Chairman of China Association of Development Zones Liu Peiqiang and other leaders from member units. All China Federation of Industry and Commerce, Chinese People's Association for Friendship with Foreign Countries, China Association for Poverty Alleviation and Development became member units of the CIFIT this year.

This fair attracted 12650 participants from various industries and sectors in 113 countries and regions, as well as 383 overseas institutions from 80 countries and regions, including 110 delegations from government agencies, 101 delegations from commercial associations, 20 delegations from international organizations and friendship cities, 149 delegations from Fortune 500 companies and well-established enterprises, and there other overseas delegations. In this fair, the administrative level of participating guests were further improved with 43 vice-minister-level or above officials, 730 executives from multinational companies and well-established enterprises, 450 heads of commercial associations. They were also joined by a number of overseas top brasses and very important persons from the industry and commerce circle, including Edmund Ho Hau Wah, Chief Executive of Macao Special Administrative Region, WTO Director-General Pascal Lamy, Supachai Panitchpakdi, Secretary-general of UNCTAD, UNIDO Director General, Dr. K.K. Yumkella, Deputy Director-General of UNIDO, Hecklinger, Joseph Battat from IFC, Kai Hammerich, Chairman of WAIPA, Minister of Energy and Mines Sudan Dr. Awad Ahmed al-Jaz, Mr. Khaw Boon Wan, Singapore Minister of Health, Chiang Pin-kung (R), Vice-Chairman of Taiwan's Kuomintang Party (KMT), Cross-straits Common Fund Chairman VINCENT SIEW WAN-CHANG, Mr. John Chiang and Mr. Yan Wenxi from Taiwan.

This fair reaped in substantial fruits. Statistics show that members of CIFIT signed agreements on 1086 various investment projects, worth USD 21.656 billion, including foreign investment of USD 15.076 billion, of which 752 are contracted projects with a total investment of USD 9.137 billion, including foreign investment of USD 7.617 billion. And 249 import and export transactions are worth USD 10 million each.

With strong support from state authorities concerned, as well as concerted efforts and cooperation by the sponsor, co-sponsors, organizers, members and participating guests from home and abroad, this fair has concluded successfully as scheduled, which exhibited the following characteristics:

I. A great number of international economic organizations attend the fair, with its international influences ever increasing.

More international economic organizations attended the fair. Top five international economic organizations attended the fair again by sending delegations and they also held many investment promotion symposiums. International organizations such as the WTO, ITC, the Common Market for East and Southern Africa, East African Community, Green Industry Cooperation Organization attended the fair and avail themselves of this opportunity to promote investment. The level of the VIP was elevated. The senior officials from WTO, UNCTAD, UNIDO, OECD, IFC, and WAIPA were all present. 43 vice ministers or higher Officials from abroad and more than 1,000 senior officials of foreign industry and business communities, business associations and multinationals turned up. Guests came from more regions and areas. Among them, more and more guests were from developed countries and regions such as EU, America, Canada, Japan and Korea. International sister cities attended the fair actively. The Chinese People’s Association for Friendship with Foreign Countries, as the member organizations of the 10th CIFIT, invited 11 international sister cities attended the fair.

II. The CIFIT becomes a great platform for different countries and regions to showcase their business potential

There are 37 member organizations and 107 foreign governments and business communities and agencies attending the fair. The members displayed their images and characters by applying acoustic, photic and electronic means and modern techniques to decorate their exhibition areas and made the areas important sites for inspecting the investment climate and looking for investment opportunities. There are three characters for foreign guests:
(1) More and more countries and regions were present. All top five international organizations participated. And there are all together 107 organizations from 46 countries in the fair, including 20 foreign investment promotion organization, almost 10 multinational and renowned enterprises, 56 national development zones, 10 provincial development zones.
(2) The size of the foreign exhibition areas expanded. Hong Kong trade development council owned 32 booths, covering an area of almost 300 square meters. This is the first time for South Africa Consulate Shanghai to attend the fair and it had 18 pavilions. The pavilions of Italy and Spain are also 18 respectively.
(3) There are various exhibitional activities. Hong Kong, Sweden and Canada launched series of “Pavilion Day” campaigns. It provided the bridge for Chinese enterprises to “go global” and create conditions for investors to look for partners broadly.

III. CITIF Becomes a Major Avenue for Talks on Global Investment Cooperation with Its High-level Forum, Strong Authoritativeness and Extensive Influence

The 10th CIFIT presented 79 high-level forums and symposiums, including the International Investment Forum, the Cross-Strait Economic Cooperation and Development Forum, and the Forum on the West Coast Economic Zone of the Taiwan Strait, which were themed around “attracting foreign investment” and “going global”, including and were the “soul” of the CIFIT. More than 320 prominent personages from nearly 30 countries and regions addressed the forums and symposiums, which attracted more than 10,000 attendees and highly rated by businesspeople attending the fair.

The forums and symposiums exhibited the following four major characteristics:

(I) Highly Authoritative: The forums and symposiums at the CIFIT were organized by authoritative organizations from China and abroad and attended by national leaders, high-ranking officials from ministries and commissions, heads of international organizations, eminent political figures from abroad, renowned economists, and executives from major multinational companies. Wuyu, member of the Politburo of the CPC Central Committee and Vice Premier of the State Council; Pascal Lamy, Director-General of the World Trade Organization; Supachai Panitchpakdi, the United National Conference on Trade and Development, Kandeh Yumkella, the United Nations Industrial Development Organization; Edmund Ho, Chief Executive of the Macao Special Administrative Region; Awad Ahmed Al-Jaz, Minister of Energy & Mining of Sudan; and Qiu Xiaohua, China’s State Bureau of Statistics addressed the forum. Luo Haocai, Chiang Ping-Kung, Lu Zhangong, Huang Xiaojing, Xu Shaoshi, Liao Xiaoqi and Long Yongtu shared their sights with attendees the forum.

(II) Global Feature: The CIFIT presented 30-plus forums and symposiums on hot topics, such as “attracting foreign investment” and “going global”. Nearly 30 countries and regions, including the US, Canada, France, Spain, Italy, Slovak, Thailand and London, held briefings on investment climate. For the first time in the history of the CIFIT, more developed countries held investment briefing than developing countries, indicating that China’s “attracting foreign investment” and “going global” investment polices are playing a role in promoting international investment cooperation.

(III) Diversity: The International Investment Forum invited authoritative figures from around the world to share their insights on stimulating investment and trade facility, and promoting the common development of the world economy. The Forum on Cross-Strait Economic Cooperation and Development explored measures to promote cooperation in the service and agricultural industries and facilitate trade across the Taiwan Strait. The 1st Strait Western Coast Economic Zone Forum promoted the WesternCoast of the Taiwan Strait as the springboard for regional cooperation. The 1st Chinese Private Entrepreneurs Management Forum provided a stage for private entrepreneurs to exchange experience and seek common development. The CIFIT also presented briefings on the advantages of investing in China’s western, central and northeastern regions. All these will have far-reaching implications for the balanced development of China’s regional economy.

(IV) Concentration: The 10th CIFIT presented a large number of symposiums and information release conferences centered on international investment. Global, national, provincial, municipal and industrial investment information and policies, as well as success experience in international investment, were shared. This concentrated nature of topics discussed at the CIFIT will have a strong impact on the international investment field.

IV. Taiwan-oriented features become more conspicuous, and the CITIF becomes an important bridge for cross-Strait economic and trade exchanges

Taiwan-oriented economic and trade cooperation has always been one of the four features of the CIFIT. This CIFIT received an overwhelming response from business communities in Taiwan. A total of 3967 people from 82 Taiwanese industrial and business groups attended the Fair, including Chiang Pin-Kung, Vice Chairman of Kuomintang; Vincent Siew, Chairman of the Cross-Strait Common Market Foundation; famous Taiwanese Mr. John Kiang, Mr. Yan Wenxi, Executive Director of the Taiwan Research Institute for Industrial and Commercial Construction; Han Jiahuan, President of Taiwan’s Dachan Greatwall Group; Wang Xuehong, Chairman of the Board of Directors of Weisheng Group; Hong Minhong, Vice Executive Director of the Taiwan Electric and Electronic Manufacturers’ Association; and many other prominent figures.

A highlight of the CIFIT was the Forum on the Economic and Trade Cooperation and Development across the Taiwan Straits. Wu Yi, member of the Politburo of the CPC Central Committee and Vice Premier of the State Council attended the forum and delivered a speech on the further deepening and expansion of cross-strait economic and trade cooperation and linkage. The Forum was attended by Chiang Pin-Kung, Vice Chairman of Kuomintang; Lu Zhangong, Secretary of the CPC Fujian Provincial Committee; Huang Xiaojing, Governor of Fujian Province; Xu Shaoshi, Vice Secretary-General of the State Council; and Liao Xiaoqi, Vice Minister of Commerce, as well as more than 400 representatives from the service, agricultural and trading industries on both sides of the Taiwan Strait. The forum discussed ways to facilitate cross-Strait economic and trade cooperation and development and strengthen cross-Strait agricultural cooperation. Another highlight of the CIFIT was the Second Cross-Strait Tourism Expo, which showcased tourism resources and products from both sides. The Expo also presented a cross-strait tourism forum. The third highlight was the fireworks display following the evening banquet in celebration of the 10th anniversary of the CIFIT. The fourth highlight was the “project matchmaking zone for Taiwanese enterprises”, where 40-plus Taiwanese enterprises interested in investing in the mainland held talks with prospective partners. The fifth highlight was the Taiwanese enterprise exhibition space, where a large concentration of Taiwanese business was displayed. The sixth highlight was the “9/8 Fujian and Taiwan Folk Customs Cultural Festive” showcasing the close kinship between Fujian and Taiwan.

The 10th CIFIT was an import event aimed at accelerating the development of the economic zone on the western coast of the Taiwan Strait by pooling all resources available. This new economic zone has been included in the nation’s 11th Five-Year Plan, occupying a prominent position in the regional economic layout of the country. During the CIFIT, the first forum on this economic zone was presented, exploring ways for its cooperation and development. Various seminars and symposiums were held as part of the forum. Distinguished figures speaking at the forum included Luo Haocai, Vice Chairman of the Chinese People’s Political Consultative Conference; Huang Xiaojing, Governor of Fujian Province; Edmond Ho, Chief Executive of the Macao Special Administrative Region; Joseph W P Wong, Secretary of the Commerce, Industry and Technology Bureau of Hong Kong; Long Yongtu, Secretary-General of the Boao Asian Forum; Vincent Siew, Chairman of the Cross-Strait Common Market Foundation; and Pascal Lamy, Director-General of the World Trade Organization. The insights provided by the speakers contribute to the accelerated development of the economic zone and facilitate the adjustment of its economic structure and industry upgrading and the transformation of the means of economic growth. The economic zone is poised to reach new heights and become a fresh growth area in China’s regional economic development.

V. Project Matchmaking Symposiums Become Increasingly Innovative and Pragmatic and the CIFIT Turns into an Optimal Platform for Project Incubation

The CIFIT has never failed to draw intense attention from domestic and overseas investors. The organizing committee of this CIFIT attached greater importance to the practical results of project matchmaking by extending the length of talks from three days last days last year to five days this year, and presented dedicated sessions for mutual funds, public-listed companies, Taiwan-funded enterprises and brand franchising; briefings on investment plans of investors, and matchmaking symposiums for third-country to third-country investments. All these events received an overwhelming response from domestic and overseas investors who achieved highly positive results. In “Introducing FDI” project symposiums, 421 overseas investors, nearly 80 chain-brand enterprises and nearly 4,000 project owners met face to face, signing 50 investment agreements, worth USD 1.948 billion and RMB 299.15 million, and investment intents were reached for 643 projects, worth RMB 23.57 billion. In the “going global” project matchmaking symposiums for Chinese businesses, 92 institutions from 56 countries and regions met with 324 Chinese entrepreneurs, signing nine investment agreements and 58 investment intents agreements, involving USD 490 million.

The Investment Fund Matchmaking Symposium, which has been opened for the first time at the CIFIT, drew 33 domestic and overseas investment funds, including the renowned Baring Private Equity Asia, Prax Capital, and Hong Kong Sequoia Capital, reaching investment intents on projects worth USD 300 million. The Direct Investment Fund Project Matchmaking Symposiums lured 41 domestic and overseas direct investment funds, signing six agreements on investment intents, worth RMB 2.24 billion. The matchmaking symposium for public-listed companies attracted 78 companies listed in China or abroad, signing 15 agreements on investment intents, worth RMB 4.143 billion. Major fields targeted for investment included infrastructure, energy, environmental protection, and transfer of equity interest.

VI. Extensive coverage of the CIFIT by domestic and international media organizations, further adding to the brand recognition of the CIFIT

The CIFIT was extensively covered in the Chinese and international press, making numerous headlines with expanding name awareness in China and abroad. A record 1458 journalist from nearly 400 media domestic and foreign organizations reported on the CIFIT., including 37 overseas media organizations, such Belgium’s TABASCO, Japan’s Asahi News, French TV III, Les Echos, the Channel News Asia of Singapore’s United Morning Post, Taiwan Central TV, ETTV, TVBS, SETTV. Central News Agency, CTiTV, China Post, Chunghwa Daily, Hong Kong Phoenix Satellite TV, Wen Wei Po, Macao Satellite TV, Macao Daily, Macao Lotus Satellite TV, Macao Citizens Daily, and Macao Broadcasting TV Co., Ltd.; 26 domestic national mainstream media organizations, such as CCTV I, II, IV and IX, People’s Daily, Xinhua News Agency, Economic Daily, Guangming Daily, Central People’s Radio, China Radio International, China Daily, Economic Reference Post, Outlook, International Commerce Post, China News Agency, 21st-Century Report, and China Youth Post; and 12 leading portals, such as Xinha Net and Sohu.

The news coverage of this Fair has improved significantly in both quantity and quality. Moreover, news media such as the internet has joined reporting and ensured all information of this fair disseminated all over the world on a real-time basis. According an incomplete stat, the number of news sent out by journalists exceeds ten thousand. To report this fair, the particular reporting team comprised of Xinhua News Agency, China Daily, Economic Daily, CCTV (1, 2, 4 and 9), Beijing Weekly and International Business Newspaper do a timely, accurate and full report. For example, CCTV International Channel did a field pickup of the Opening Ceremony and Cross-Straight Forum; several newspaper agencies set up CIFIT special column and pages. Xinhua Network, Sohu, Ministry of Commerce, Southeast News and Straight Website deliver a full coverage of CIFIT with both pictures and articles. Zhongxin Website, China Daily, CIFIT website and China Commerce and Investment Promotion Website also publish lots of reports of this fair. The wide reporting by media make this CIFIT become a hotspot of both domestic and international news and further enlarge the international influence of CIFIT.

Moreover, in order to ensure the security and order of all activities, the organizer, FujianProvince and XiamenCity pay much attention to the comprehensive logistical support for this Fair. They arrange elaborately the safeguard, transportation, accommodation, eating, sanitation and beautification of the whole city, so as to ensure the security and satisfy all guests. The Organizing Committee is getting more experienced and well-regulated in many aspects, i.e., exhibition service, meeting service, guest check-in, spot administration, information, news reporting, etc.

From 1997 to 2006, CIFIT has passed its ten years’ journey which is a mirror of creating, struggling and innovating. In these ten years, with the constant and steady development of Chinese economy and the promotion of Reforming and Opening, the CIFIT has been expanding and improved continuously, with more outstanding characters, more powerful international fame and influence. This Fair has grown up from an originally regional economic and business activity, to one of the most famous international investment promotion fair which is the only one aiming at encouraging both-side investment. These achievements are not easy to make, due to the sincere care and guide of central committee of CCP and State Department, due to the elaborate cultivation and common effort of all organizers, sponsors and members, due to the widely support and active participation of guests and friends. Therefore, at the 10th fair, the organizing committee particularly issue “CIFIT Best International Cooperation Institutions” to international organizations, “CIFIT Excellent People of International Firms” to heads of global firms, “CIFIT Contribution Award” to all members and “CIFIT News Contribution Award” to journalists and editors.

Looking back to the previous CIFITs, we are extremely proud; looking forward to the future of the CIFIT, we are full of confidence. A decade celebration is a milestone of the CIFIT, which indicates an important opportunity of spanning development of CIFIT continuously leading international investment cooperation. According to the instruction by head of State Department “Holding a better and better CIFIT annually”, CIFIT will insist on the guideline of “one line, two subjects and four points”, follow the newest trend of Foreign Direct Investment, react with the whole situation of Chinese economy, innovate consistently, improve service level, improve the effectiveness of project negotiation and promote the development of CIFIT in the aspects of international fame, professionalism, specialization, information. CIFIT is going ahead with efforts towards one of the most famous investment exhibition in the world.

Over the ten years, all the experience has been creating a future. We sincerely hope friends from the media continue their focus on and support for the CIFIT. We are looking forward to seeing you in Xiamen on September 8 next year.

With the approval of the State Councial, the First China Exhibition will be take place in Changsha, Hunan on September 26-28, 2006. Friends from the press are welcome to attend the exhibition to cover the events.

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