Fair to promote two-way trade across the world
The 22nd China International Fair for Investment and Trade opens on Thursday in Xiamen, Fujian province. [Photo by Xu Wenjin/For China Daily]
The 22nd China International Fair for Investment and Trade, or CIFIT, kicks off on Thursday in Xiamen, Fujian province, with a focus on the digital economy and green investment.
The CIFIT, which will last through Sunday, has long been considered one of the most influential international investment events in China. In recent years, nearly 300,000 merchants from more than 200 countries and regions have attended the event, signing over 30,000 project contracts.
According to its organizers, the event functions as a platform that can promote two-way trade between China and other countries while also releasing authoritative information and identifying investment trends.
Over 120 officials of international organizations and foreign governments, diplomats and executives of multinationals and more than 80,000 merchants from over 100 countries and regions will take part in this year's online and offline events, said Li Jiancheng, vice-governor of Fujian province.
"In terms of online participation of the 22nd CIFIT, we have upgraded the offerings for online events. Attendees can now access the event's official website, application and WeChat mini program," said Zhuang Rongliang, vice-mayor of Xiamen.
"Those unable to attend the offline event can use the online platforms to display and promote products, network and negotiate as well as have online roadshows."
The event has an exhibition area of 120,000 square meters and hosts more than 60 events themed on the construction of the Belt and Road Initiative, collaboration of BRICS countries－Brazil, Russia, India, China and South Africa－and the implementation of the Regional Comprehensive Economic Partnership agreement.
One of them is the 2022 Silk Road Maritime International Cooperation Forum. It is hosted by Silk Road Maritime, China's first international integrated logistics service brand serving the BRI.
The brand was established in 2018 and now has more than 200 members across the globe. Last month, it signed a strategic cooperation framework agreement with the Ghana Ports and Harbours Authority.
Two important events on investors' calendars, the 2022 China International Industrial Internet Innovation and Development Conference and the China-Arab Trade and Investment Summit, are also held during the fair.
For the first time, the event will set up a 26,000-sq-m matchmaking area, which offers a space for exhibitions, roadshows and negotiation. During the event, over 200 professional investment institutions are hosting more than 30 investment matchmaking events in the area, with nearly 1,000 project roadshows.
In addition to Xiamen, Chongqing and Harbin, Heilongjiang province's capital, set up exhibition areas of 720 sq m and 400 sq m respectively. A number of investment matchmaking events are held simultaneously in Heilongjiang province, the Inner Mongolia autonomous region, the Xinjiang Uygur autonomous region and Guizhou province, according to Li.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.