Int'l fair in Xiamen great platform of business opportunities: foreign officials

China

Int'l fair in Xiamen great platform of business opportunities: foreign officials

2024-09-09 00:00 Last Updated At：04:27

The 24th China International Fair for Investment and Trade (CIFIT) is a platform with great new business opportunities, said foreign officials attending the event on Sunday.

Opening a window for both inbound and outbound investors, the CIFIT has drawn delegations from 119 countries and regions to Xiamen, Fujian Province, in eastern China.

This year's fair was launched on Sunday and will run through Wednesday. The first day saw delegations and guests filling the 120,000-square-meter exhibition area. Within just a few hours, some delegations, caught off guard by the high level of interest, found themselves running out of business cards.

Hungary, this year's guest country of honor, has established a 450-square-meter pavilion to showcase its products, services, and investment opportunities.

"This is a very good surprise and we are happy that many companies come to us, to the Hungarian Pavilion, and talk to us about potential investments. We expect that China and the Chinese economy grows in the future as well. And I think that China is the future. We believe in China; China believes in Hungary,'' said Andras Janossy, director of communication for the Hungarian Investment Promotion Agency.

In addition to Chinese investors seeking global opportunities, Chinese consumers have shown a strong interest in international goods, particularly exotic food and beverages.

"We've had a lot of guests, a lot of visitors who are visiting our stall. Coffee is Uganda's most exported product. We've been to CIFIT for over a decade now. We think it is a very good platform for us to interact with potential importers, coffee shops, coffee lovers and coffee associations within China," said Andrew Muhumuza, an official at Uganda's Consulate in Guangzhou.

This year's CIFIT covers various sectors, including information technology, artificial intelligence, and new energy. To help global investors explore opportunities in the country, a series of reports on China's investment cooperation, both outbound and inbound, will also be released.

Beijing consumer gold market remains hot despite rising prices

2024-09-17 04:15 Last Updated At：08:17

Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.

Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.

At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.

"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.

"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.

"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.

At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.

At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.

"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.