Xiamen fair set to be international investment convention

The annual China International Fair for Investment and Trade, opening on Sunday in Xiamen, Fujian province, is poised to be a “world investment convention”, said the event’s organizer.

Wang Qiongwen, director of the Xiamen Bureau of Convention and Exhibition Affairs, said this year’s CIFIT is set to become a grand international gathering focusing particularly on investment with stronger international attendance.

It opens at a time when a rising number of Chinese investors are seeking overseas projects in not only less-developed regions, but also the world’s major economies including West Europe and North America.

Demand for booths from foreign exhibitors has exceeded the supply.

“We initially planned 500 booths, but actually sold 705. We have exhibitors from 52 countries and regions, with the total number of foreign exhibitors taking up 12,500 square meters, twice the size of last year,” Wang said.

Because the global economy still looks sluggish, rising economies get more international attention, he added, noting this is the key reason why this year’s CIFIT has gained more international interest.

By taking the World Trade Organization on board, CIFIT has become the world’s only fair co-sponsored by six major international organizations.

The other five co-sponsors are the United Nations Conference on Trade and Development, the United Nations Industrial Development Organization, the Organization for Economic Cooperation and Development, the International Finance Corporation and the World Association of Investment Promotion Agencies.

A delegation of more than 90 representatives from 26 World Trade Centers in North America, Latin America, Asia and the Greater China Region will attend the CITIF.

Ghazi Abu Nahl, chairman of the World Trade Centers Association, and Eric R. Dahl, chief executive officer of the World Trade Centers Association, will lead the delegation.

Wang said the Ministry of Commerce will for the first time unveil an index on foreign investment in China — the CIFIT index — in addition to the UNCTD’s World Investment Report and the Xinhua News Agency’s report on the Chinese firms going global, making the CIFIT an authoritative information platform.

Foreign investors began to focus on China’s service sectors about three years ago, said Zeng Junsheng, deputy director of the investment project division of the CITIF’s organizing committee.

Back in 2003, when investment match-making events were first organized during the CIFIT, foreign companies cared more about investing in infrastructure, the petrochemical industry and trade, he said.

“It was in 2006 and 2007 that both foreign and domestic capital began to look at leading domestic companies to seek opportunities for mergers and acquisitions,” Zeng said.

Wang said this year’s CIFIT features exhibitions on rising industries, finance and the BRICS countries — Brazil, Russia, India, China and South Africa — as well as small and medium-sized enterprises from ASEAN member nations.

“We have the banquet ready, so the key whom to invite,” Wang said. “The fair this year concentrates on Global 500 and the Chinese mainland’s top 500 firms, as well as the top 100 in Taiwan. We have more than 3,500 corporate exhibitors from more than 110 countries and regions.” Contact the writer at sunli@ chinadaily.com.cn

Wang Qiongwen,