Backgrounder: China Int'l Fair for Investment, TradeChina International Fair for Investment and Trade (CIFIT), originated from a provincial trade fair, is the only national one of its kind designed to attract direct foreign investment.CIFIT, an annual trade event, has been held since 1997. Totally 9,141 contracts have been signed with a contracted foreign investment of US$48.3 billion. The import and export trade volume has scored US$3.75 billion. It also serves as one of the most important channels for foreign investors to learn about China's latest investment policies and tendencies, and for domestic enterprises to learn about the world's latest capital management as well. Xiamen, the host city next to Taiwan Province, has received more than 50,000 business people from home and overseas who have participated in the CIFIT during the past four years. The Fifth China International Fair for Investment and Trade, to be given on September 8, 2001, will promote two-way investment for the first time. Entrepreneurs and officials from Southeast Asia, European Union, Middle East, Africa and Latin America are scheduled to introduce their own investment environment, policies, and projects to attract investors from China. On the eve of China's accession to the World Trade Organization (WTO), CIFIT will also give seminars on opportunities and challenges that might arise therefrom, and relevant investment policies. CIFIT is jointly held by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), Fujian provincial government and Xiamen City. Between 1987 and 1996, Fujian organized a provincial investment and trade fair for 10 times featuring economic and trade cooperation across the Taiwan Straits. The annual economic activity was promoted as CIFIT by MOFTEC in 1997. |
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