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Jilin expo expected to boost growth
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08:40, August 28, 2008

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The fourth China Jilin Northeast Asia Investment and Trade Expo will be held from September 2 to 6 as increasing numbers of investors and companies join in the revitalization of the northeastern province's industries.

Chen Weigen, director of the executive committee of the expo and Jilin vice-governor, said the trade fair aims to promote economic cooperation between China and other Northeast Asian countries.

The expo aims at promoting renewal of the province's aging industries in northeast China, Chen said, and is open to business circles from across the world. The event will include promotion of commodity trading, investment and business forums.

Begun in 2005, the Jilin expo has accelerated investment in the province. Its increasing scale ranked it fifth in forums of its kind in 2006. It joined the top 10 list of government expos in China in the same year.

An influential expo in southern China, the China Import and Export Fair (Canton Fair), has now been joined by one in northern China - the Jilin Northeast Asia Investment and Trade Expo, Chen said.

The number of participants in the Jilin fair has increased from about 30,000 at the first event in 2005 to more than 50,000 at the third expo in 2007. The number of foreign participants grew from 4,000 the first year to 7,300 in 2007. More than 10,000 foreign participants are expected this year.

Total foreign trade value grew from $292 million in the first expo to $384 million in 2006 and $410 million last year. The first fair resulted in 132 contracted projects with an investment of 36.79 billion yuan. The number of projects reached 255 with a total investment of 52.39 billion yuan in 2006 and 169 with a total investment of 71.9 billion yuan in 2007.

Growth in the expo is reflected in international participation. Its organizing committee and the United Nations Development Program held forums on northeast Asian economic cooperation for three consecutive years.

Former Vice Premier Wu Yi delivered speeches for the first two expos as senior governmental officials from China and northeast Asian countries gathered in Changchun to discuss new trends in regional cooperation. The expo was highly praised by participants.

The expo this year will continue to provide investment projects and cooperation opportunities at different levels, the vice-governor said.

Jilin has signed agreements with Hong Kong, Singapore and Malaysia that lay a solid foundation for investment and cooperation projects at the coming expo.

The forum is expected to be larger in scale, with many other events planned, he noted.

A concert, evening parties and sports activities will be part of the event. Cultural exchanges among the youth, including Northeast Asia Youth Culture Festival, will enhance the regional culture exchanges, Chen said.

Specific focuses on regions and countries will include a Russian business week.

The expo has become increasingly important in revitalizing industries in northeast China and promoting economic cooperation among Asian countries, Chen said.

Source: China Daily

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