Xiamen Int'l Trade Fair Harvests US$17.6 Billion Deals

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Last updated at: (Beijing Time) Friday, September 12, 2003

Xiamen Int'l Trade Fair Harvests US$17.6 Billion Deals

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More than 1,720 investment and co-operative projects with a total investment value of US$17.623 billion were signed at the Seventh China International Fair for Investment and Trade (CIFIT), which ended yesterday in Xiamen, a coastal city in East China's Fujian Province.

The fair, the first large-scale trade and investment event held since the SARS outbreak in April, has been a great success, showing that the Chinese Government is able to deal with emergencies, providing a safer, better environment for overseas investors, the fair's organizing committee said in its press release yesterday.

It said, investment from overseas investors totalled US$12.689 billion.

The number of contracted projects was 1,259, reaping a total investment of US$8.947 billion, with overseas investment accounting for US$6.652 billion. Import and export deals with a total trade value of US$238 million were also signed during the fair.

The enthusiasm from businesses and organizations remained high at CIFIT, the organizing committee said.

More than 11,781 overseas business people from 102 countries and regions attended the event.

Business people from the European Union totalled 799 this year, 66 per cent more than in the previous session, while visitors from the United States and Canada was 817, an increase of 45 per cent compared with last year.

Industry experts said stable and coherent foreign trade and investment policies had helped the country sustain its high momentum in attracting investment.

China will continue to co-operate with overseas investors, government agencies and international organizations to build a more favourable investment environment in the country, Chinese Vice-Premier Wu Yi said during the fair.

Nine seminars introducing the investment environment and policies in countries and areas including the Caribbean, Southeast Asia, Britain and Germany were held, to encourage Chinese firms to invest overseas.

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