Xiamen dazzles with 2017 CIFIT

After hosting the BRICS Summit in early September, Xiamen, Fujian province, is once again in the limelight as the venue for the ongoing 2017 China International Fair for Investment and Trade.

The event kicks off today and will last through Thursday in Xiamen, Fujian province, with a number of events tailored for BRICS countries and economies linked to the Belt and Road Initiative, organizers said.

One of the fair's major goals is to promote economic cooperation and exchanges among global investors and members of BRICS - Brazil, Russia, India, China and South Africa - Deputy Mayor Han Jingyi told a Beijing news conference in August.

A specialized pavilion is displaying products from BRICS members.

A seminar on e-commerce will address the development and investment opportunities on the internet in these countries.

And networking events involving multi-cooperation, global governance and cultural exchanges will be held.

Another eye-catching innovation of the 2017 CIFIT, according to Han, is planned around the Belt and Road Initiative.

There is a special exhibition area focusing on exhibits from the countries and regions involved in the initiative.

Among them is Georgia, which has been designated as the guest country of honor of this year's CIFIT.

This year also marks the 25th anniversary of establishing diplomatic relations between China and Georgia.

To attract investment, the country has sent a large trade delegation, booked an 800-square-meter pavilion, and scheduled a Sino-Georgian trading forum and project matching events.

The Ningxia Hui autonomous region in northwestern China, as the guest province of honor, is also a crucial link with the ancient Silk Road.

The annual fair is a key international platform, with the purpose of promoting two-way investments with the world's second biggest economy.

Exhibitors from more than 30 countries and regions, including the Untied States, Japan and Australia, are displaying their latest technologies and products this year.

The event features more than 5,000 exhibition stands, covering a total of 120,000 sq m, designed to promote cross-border investments and industry promotion, according to the committee.  

Industries in focus at the event include healthcare, tea, wine and cross-border e-commerce.

A 4,000 sq m exhibition pavilion for time-honored Chinese brands is a new comer to the annual event.

It will showcase how those long-standing brands have passed down traditional commercial culture from generation to generation and at the same time pursued innovation.

A series of forums will focus on economic hot spots, including intelligent manufacturing, internet financing and global mergers and acquisitions.

As one of the major events at CIFIT, the International Investment Forum is discussing how global investment generates a new economy.

Organizations, including the United Nations Conference on Trade and Development, will also release authoritative reports at CIFIT.

During the investment and trade event, more than 30,000 projects will be launched to attract investors - and about 20,000 business networking activities will be held both online and offline, involving information communication technology, modern agriculture, advanced manufacturing and new energy industries.

Sun Zhenyu, president of the Society for World Trade Organization Studies, said that as one of the most important investment promotion platforms in the world, CIFIT has witnessed the fruits of reform and opening-up for decades.

Last year, China attracted foreign investment of up to $124 billion, which brought in advanced equipment and management, boosting the economic development of the country, he said.

At the same time, the country's outbound investment surged to $170 billion, especially witnessing progress in the construction of infrastructure and oversea economic cooperative zones.

The 2017 CIFIT will provide services for investment promotion and industrial integration, to boost economic growth, he said.