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Fair trade expects to hit record high
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16:57, September 07, 2009

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China expects to boost outbound investment at an international fair opening tomorrow in Xiamen, Fujian Province.

"Chinese entrepreneurs have shown great enthusiasm in venturing overseas and the fair has enhanced services to connect domestic investment with potential projects abroad," the Ministry of Commerce said on its Website to promote the 13th China International Fair for Investment and Trade, which will run through Friday in the southeastern coastal city.

"This is a special year when the global financial crisis has offered us both challenges and opportunities. The fair is expected to work as a weather vane to gauge the current global economic climate," the ministry said.

Compared with previous fairs, this year's CIFIT is the largest in terms of scale. Covering 60,000 square meters -- 8,000 square meters bigger than last year -- the fair provides 2,800 exhibition booths.

By last Saturday, about 492 companies and organizations from 83 countries had registered to take part in the fair and more than 13,000 overseas visitors are expected -- a record high for CIFIT.

During the fair, bilateral negotiations about investment and trade will take place between China and Japan, Germany, Norway, Sweden and Cuba.

Chinese outbound investment has gained momentum, shored up by bargains created amid the global economic downturn and the demand to digest China's mounting foreign exchange reserves.

The country's overseas investment reached US$52.1 billion last year, nearly double that of 2007. The ministry expected this could grow to US$150 billion this year, according to earlier media reports.

Source:Shanghai Daily

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