People visit the 24th China International Fair for Investment and Trade (CIFIT) in Xiamen, southeast China's Fujian Province, Sept. 8, 2024. (Xinhua/Lin Shanchuan)
BEIJING, Sept. 12 (Xinhua) -- The 24th China International Fair for Investment & Trade (CIFIT) concluded on September 11 in Xiamen, southeast China's Fujian Province has drawn participants from 120 countries and regions.
Covering around 120,000 square meters, the four-day event witnessed 688 projects reach cooperation agreements, with a planned total investment of 488.92 billion yuan.
Ling Ji, vice-minister of commerce and China's deputy international trade representative, said at the opening ceremony that the ministry will work with all to turn CIFIT into an important window for China's high-level opening up, and a top platform for "Invest in China", serving high-quality Belt and Road cooperation, and boosting China's outward investment.
-- Building "Invest in China" brand
First launched in 1997, the CIFIT, organized by the Ministry of Commerce, has become an important platform for boosting investment and facilitating global development.
The event this year set up a central exhibition zone and three themed pavilions for investment promotion, industrial innovation development, and project and capital docking.
A major highlight is the "Invest in China" special zone, covering 13,000 square meters within the project and capital docking pavilion, dedicated for docking multinational corporations and international investors with investment projects.
The "Invest in China" special zone comprises of segments such as "financial capital docking", "dialogue between SRDI (enterprises that feature specialization, refinement, differentiation and innovation) and hidden champion" focusing on AI, intelligent manufacturing, life health, green and low-carbon development to facilitate the development of new quality productive forces.
With participation of domestic and foreign financial capital, small- and medium-sized high-quality enterprises, and national-level economic development zones (EDZs), the special zone served as a platform for business matchmaking and exchanges.
As China continues to expand its high-level opening up, foreign investors has been growing increasingly optimistic about the Chinese market that shows strong vitality and open market benefits.
Therefore building the "Invest in China" into a brand itself could facilitate the acceleration of high-level opening up while actively promote economic globalization, stable and unimpeded global industrial and supply chains, experts note.
-- Highlighting high-level opening up
This year's event showcased China's strong determination and concrete steps in expanding high-level opening up to the outside world, experts say.
An EDZs special area set up under "Invest in China", for instance, gave full play to the role of national-level EDZs in opening up through docking domestic innovative and growing businesses in intelligent manufacturing, electronic information, bio-medicine, green and low-carbon development with foreign exhibitors and visitors, so as to attract more foreign capital projects to settle in the EDZs.
Known as the "barometer" for China's outward investment and introduction of foreign capital, the event this year also published relevant authoritative reports such as the World Investment Report 2024 (Chinese version) and China Foreign Investment Statistics Bulletin 2024, showing optimizing and upgrading foreign direct investment (FDI) in China.
From January to July 2024, China's actual use of FDI exceeded 500 billion yuan (70.2 billion U.S. dollars). In particular, nearly 32,000 foreign-funded enterprises were newly established in China in the first seven months, a year-on-year increase of 11.4 percent, according to official data.
CIFIT plays an important role in promoting dual-way investment, serving national development strategies, and providing Chinese solutions for global common development, according to Huo Jianguo, vice-chairman of the China Society for World Trade Organization Studies. By acting as the platform for promoting dual-way investment, publishing authoritative information, and discussing investment trends, the event shares investment opportunities with all, and thus plays a positive role in developing an open world economy, according to Huo. (Edited by Niu Huizhe with Xinhua Silk Road, niuhuizhe@xinhua.org)
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