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International investment, trade fair kicks off in Xiamen

(Xinhua)

15:05, September 08, 2012

The 16th China International Fair for Investment and Trade is opened in Xiamen, southeast China's Fujian Province, Sept. 8, 2012. More than 600 delegations from 110 countries and regions attended the event. (Xinhua/Zhang Guojun)

XIAMEN, Sept. 8 (Xinhua) -- More than 600 delegations from 110 countries and regions gathered Saturday in the southeastern city of Xiamen to attend the 16th China International Fair for Investment and Trade (CIFIT).

The fair, sponsored by China's Ministry of Commerce (MOC), aims to facilitate global investment flows through the hosting of bilateral and multilateral economic promotion activities.

The forum this year, which runs from Saturday to Tuesday, will feature topics such as new forces driving global economic development, cross-border investments and global capital flows.

"We look to using the platform to deepen investment exchanges and help restore the global economy back to shape," Vice Minister of Commerce Gao Hucheng said at the opening ceremony.

China's economic strides in recent years had made it an attractive destination for foreign investment.

Official statistics showed foreign direct investment in China reached 116 billion U.S. dollars in 2011.

Meanwhile, China's "go global" strategy had fuelled the country's outbound direct investment (ODI) growth.

Last year's ODI increased 8.5 percent year on year to 74.65 billion U.S. dollars, ranking the sixth worldwide, according to the MOC.

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