XIAMEN, Sept. 8 (Xinhua) -- The 21st China International Fair for Investment & Trade (CIFIT) opened Wednesday in Xiamen, east China's Fujian Province, promoting investment and economic recovery worldwide amid the lingering pandemic.
With over 5,000 companies from nearly 100 countries and regions flocking to the fair, the four-day event includes more than 30 conferences and seminars. They will discuss hot topics in domestic and foreign investment, such as Belt and Road construction, digital and green economies, and carbon neutrality.
Covering an area of more than 100,000 square meters and with strict anti-epidemic measures in place, the fair attracts more than 50,000 business people online and offline.
The event is jointly organized by China's Ministry of Commerce and several international organizations including the World Trade Organization, the United Nations Industrial Development Organization, and the World Association of Investment Promotion Agencies, to boost international investment activities.
Elaine Mae V. Laruan-Hernandez, vice consul of the Philippine Consulate General in Xiamen, said the participation of the Philippines -- the guest country of honor for both CIFIT 2020 and the 21st CIFIT -- in last year's fair was a success.
One direct result is that China Wuyi, headquartered in Fujian, invested 500 million yuan (about 77.3 million U.S. dollars) in a real estate project named Asia Plaza in the Manila Bay Area.
"Under China's Belt and Road Initiative, we are confident that trade and investment relations between the Philippines and China will grow further," she said.
China was the Philippines' top trading partner and the total bilateral trade volume hit 271 billion yuan in 2020. Enditem
A single purchase
