Projects yield fruits

The organizing committee of the China International Fair for Investment and Trade (CIFIT) recently conducted a tracking survey on the progress of the investment projects singed at last year's fair.
The survey shows that most investors are satisfied with the projects signed at the fair and expected to join in the event again this year.
The following is the updated information about several investment projects inked at last fair.
1. International Ruipu Science (Hong Kong) Investment Co Ltd signed a contract worth US$20 million on solid waste treatment in Taizhou, Jiangsu. The firm also plans to sign agreements with companies in Nanjing, Xuzhou and Hefei in the next three months.
2. Dalian Jinshida Group and Canada-based CACN Company signed a US$50-million trading contract and a US$10-million investment contract at last fair.
3. The project of Zhengzhou Exhibition Hotel, intending to use investment from the H.L.C.C. Hong Kong Consulting Co Ltd, has stepped into the substantial negotiation stage.
4. Hong Kong Asia-Pacific Group has initiated a tourism project in Huangshan Mountain in Anhui. Meanwhile, another project with Luoyang Development Zone in Henan is being discussed.
5. The discussion for the project invested by France Air Liquide Co in Quanzhou, Fujian, has come to a key stage.
6. Canada Holi International Investments Group has carried out its trading contract on agricultural products signed at the fair.
7. US Guangcai International Investment Inc has held on-the-spot investigation and further discussion for its projects in Shandong, Lanzhou and Dali.
8. Beijing Environment Protection Co Ltd had contacted and reached initial agreements with the waste disposal projects in Xiamen and Nantong at the fair.
9. American International Wealth Coalition Invest Corp signed a co-operation agreement with a Shenzhen-high-tech company.
10. Shirong Investment Group and Shanxi Beibeilong Co signed an agreement in fruit deep processing worth US$26.4 million at last CIFIT. The project has been carried out at present.

Leaders of East China's Fujian Province, have raised new requirements for the preparatory work of the 8th China International Fair for Investment and Trade (CIFIT).
The 8th CIFIT, to be held on September 8-11 in Xiamen in Fujian, should try to realize breakthroughs in innovation, efficiency and service and to exceed the former sessions in terms of scale, level and influence, said Ye Shuangyu, vice-governor of Fujian and secretary-general of the organizing committee of CIFIT at a preparatory meeting last month.
The preparatory work for the 8th CIFIT has been going smoothly, said fair organizers.
Participants from all the relevant units showed positive attitude to the achievements in the former preparations.
Under the great concern from the leaders at all levels, the preparations have made much headway.
Organizers also indicated that the 8th CIFIT is confronted with some challenges including higher requirements from participants.
Meanwhile, the environment for investment promotion has changed.
Leaders requested event organizers be cool-headed and be equipped with adequate knowledge to solve the problems so as to ensure the smooth progress of the preparations for the fair.
In order to host a successful fair in the coming September, the vice-governor put forward the following eight demands for the forthcoming preparatory work.
1. Improving the promotion for CIFIT.
2. Taking more effort in inviting foreign businesses.
3. Making better preparation in collecting information about, and promoting and matchmaking for the investment projects.
4. Further improving the security equipments and services, which should become a new highlight in this session of CIFIT.
5. Bettering the operating system at all levels aiming to clearly define the responsibilities and to upgrade the interaction and co-ordination among all parties.
6. Making detailed plans to increase working efficiency.
7. Preparing well in organizing the four newly built exhibition areas.
8. Focusing on the highlights of the fair, such as reviving Northeast China's old industrial bases, Closer Economic Partnership Arrangement (CEPA), the opening ceremony and banquet.

IN BRIEF


CIFIT promoted in Shanghai
Recently, representatives of the Liaison Department of the Organizing Committee of the 8th CIFIT visited Shanghai and held discussions with consulate-generals from Mexico, Ukraine, Poland, Russia, Thailand and South Africa and foreign businesses in Shanghai.
The organizations have expressed a strong interest in CIFIT and promised to organize groups to attend the Fair, some even have an intention to invite senior officials of their government to attend the investment forum and hold their Hall Day events.
Intention to participate
U.S. Council for International Business, France Euro-Asia Trade Promotion Association, Germany Asia-Pacific Chamber of Commerce as well as some investors expressed their intention to attend the 8th CIFIT.
Many foreign investment promotion institutions are extremely interested in participating the Matchmaking Symposium for Chinese Enterprises to Go Global.
Preparatory meeting
Organizers of the 8th CIFIT held its preparatory meeting on April 13 in the host city of Xiamen. Fair secretary-general, also vice-governor of Fujian province Ye Shuangyu required the coming session be more creative and practical.
To achieve the target, the organizing committee will redouble its efforts in promoting the trade fair, in inviting exhibitors, collecting information on various projects, and setting up four new exhibiting zones.
Symposiums at abroad
Organizing Committee of the 8th CIFIT held promotional symposiums in countries including Australia, New Zealand, Canada and the United States recently.
In its symposiums in Oceania, CIFIT promotional team visited ten governmental and semi-governmental organizations and six local media in eight important cities such as Brisbane, Auckland and Wellington.
In North America, CIFIT organizers met officials from dozens of governmental institutions, chambers of commerce and big companies in New York, Vancouver, Kentucky and Florida.

 

By Liu Shinan
Express commentator

In what was called a "complete success," China and the United Stated wound up their latest session of the China-US Joint Commission on Commerce and Trade (JCCT) in Washington last Thursday.
China made the largest concession by agreeing to postpone the execution of its WAPI wireless network standard and promising harsher measures against piracy of intellectual property right (IPR) products.
The US side has complained against the WAPI standard, blaming it as a technical barrier for exports of US wireless network products.
China's decision to put off, "indefinitely," the exercise of the new standard is a grave concession.
In return, the United States promised to review US exports to China of high-tech products, implying a beginning of relaxation of the control.
Anyhow, the cost of the concession is large. At least, it will be viewed by many people as "losing face" in international trade frictions.
Whether a disgrace or not, the concession suggests something.
First, it shows the sincerity China harbours in its hope to forge a strategically long-term and mutually benefiting relationship with the United States in trade and economic ties.
China and the United States, as each other's major trading partner, complement each other greatly in economy. Co-operation, rather than confrontation, between the two countries will be more beneficial for both sides as well as for world peace and global economic development.
Second, the concession suggests that China has become more mature in global trade games.
Different from the traditional concept that concession implies loss of face, China is learning to be more pragmatic in dealing with trade partners.
In trade and economic exchanges, disputes and friction are usual happenings. Every player needs to make concessions as well as headways. They have nothing to do with grace or disgrace. What really matters is a well-administered balance between current and future benefits.
Frankly speaking, Chinese foreign trade officials and experts are less experienced, in a market economy mechanism, than their astute counterparts from the West. Much has to be learned during economic exchanges. Making contemporary concessions in exchange for long-term benefits is such a competence.
The United States, on its part, should also give up some of its habitual concepts. Taking China as a potential threat, for instance, is such a concept. Some people in that country always like to politicize pure economic and trade issues; they seem to feel very uneasy at an economically developed China.
The Sino-US relationship is in a stable and friendly state. We do not hope there should be any unpredictable happenings, as there always were in the past whenever a major improvement had been achieved in the bilateral relations, especially in the issue of Taiwan.
In that sense, it is really reassuring to hear US President George W. Bush reiterate, in his meeting with Chinese Vice-Premier Wu Yi after the Washington JCCT consultation, that there is no change in the United States' "one China" policy.
So long as the United States does not stir up new troubles in the issue of Taiwan, all other issues between the two countries can be negotiated.