Agreements on raft of major investment projects worth an estimated 110.04 billion yuan (about 15.47 billion U.S. dollars) were signed at the 24th China International Fair for Investment and Trade (CIFIT), which opened Sunday in Xiamen, a coastal city in China's eastern Province of Fujian.
A groundbreaking ceremony was held on the sidelines of the four-day CIFIT for some of the 50 projects which cover a wide range of strategic and emerging industries, such as new energy, new materials, biomedicine and third-generation semiconductors.
This year's CIFIT is taking place with the theme "Investment Linking the World," focusing on industrial cooperation in areas such as the digital economy and green development.
It aims to showcase and introduce the latest investment environment, policies, projects and achievements of Chinese provinces, cities and regions, and serves as an important platform for enterprises from home and aboard to gain comprehensive insights into China's investment policies.
The event drew visitors from 119 countries and regions, of which about 80 percent are Belt and Road Initiative (BRI) partner countries.
"The CIFIT is a great platform. I think we should do more to showcase the new development concept China is following and the new achievements we have made so far in fostering new quality productive forces through the fair," said Song Hailiang, chairman of the China Energy Engineering Corporation in an interview with the China Central Television (CCTV) on the sidelines of the CIFIT on Sunday.
This year's fair features a sprawling exhibition with an area of around 120,000 square meters, more than 80 investment events and roadshow activities.
A section for China's outward investment and cooperation allows Chinese firms to highlight their overseas investments and explore new business partners.
"We've set up matching teams dedicated to Guangdong's 20 major industrial clusters to hold extensive exchanges with foreign exhibitors and domestic enterprises from other parts of the country," said Liu Dezeng, deputy director of the Investment Promotion Bureau of Guangdong Province, a manufacturing heartland and leading foreign trade player in south China.
The CIFIT was first launched in 1997 and has become an important platform for boosting investment and facilitating global development. In the past decades, more than 30,000 projects have been signed, of which a large number of foreign-funded projects have been implemented in China, and numerous Chinese enterprises have reached the global market, according to the Ministry of Commerce.
Investment deals worth 110 billion yuan inked at int’l trade fair in Fujian
