CIFIT opens in Xiamen to secure new investment deals

Updated: Oct 11, 2021 Print
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The 21st China International Fair for Investment and Trade got underway on Wednesday in Xiamen, Fujian province, with businesses from across the world attending to participate in exchanges.

Focusing on new opportunities for international investment under new development patterns, the four-day event runs until Saturday and is taking place online and offline.

This year's CIFIT has an exhibition area of some 110,000 square meters and will host more than 30 forums and activities to showcase cutting-edge industries, hold high-level discussions and promote practical cooperation, according to its organizers.

Countries and regions involved in the Belt and Road Initiative and the Regional Comprehensive Economic Partnership are among major participants at this year's fair.

At the pavilion for investment promotion, participants from 45 countries and regions, as well as international organizations and 32 delegations, are demonstrating their investment policies, business environment and projects.

The Philippines, the guest country of honor of this year's fair, has set up a 420-sq-m booth showcasing its investment environment and policies, agriculture, construction industry and tourism.

"We are honored to be the guest country of CIFIT for two consecutive years," said Mario C. Tani, commercial consul at the Philippine Consulate General in Shanghai.

China is a big economy and takes a leading role in sectors such as e-commerce and infrastructure. That is what the Philippines is looking to grow, Tani said. As of 2020, the bilateral trade volume between China and the Philippines has reached 271 billion yuan ($42 billion). China is the Philippines' largest trading partner, according to the Philippine Trade and Investment Center.

"We would like to promote the Philippines as an investment destination and to establish economic relationships with more Chinese companies," Tani said.

"The Philippines is open to everybody."

As the guest province of honor at this year's CIFIT, Qinghai has set up a booth of 500 sq m, demonstrating its landscape and achievements in green development.

The province has organized for about 40 local brands and specialties covering green farming, the light industry, cultural tourism and ethnic handicrafts, to attend the event.

Jiangheyuan, a Qinghai-based company engaged in agriculture and animal husbandry, is displaying its milk and linseed oil products.

Qinghai shares great advantages in developing agriculture and animal husbandry due to its clean environment, said Zhao Xinning, general manager of the company.

"The quality environment secures the safety of our products, and the long sunshine ensures the growth of our crops and maintaining nutrition," Zhao said.

"We are attending the event for the first time and hope to attract more visitors to learn about our organic products and green development of Qinghai's agriculture."

The pavilion for industrial development is hosting Global Fortune 500 and leading companies including Merck, Johnson & Johnson, Philips, Huawei and Genertec. They are showcasing industries involving artificial intelligence, equipment manufacturing, healthcare and the emerging economy.

Embraer, the world's third-largest aircraft manufacturer headquartered in Brazil, is demonstrating an array of its aircraft models.

"It is the first time for Embraer to attend CIFIT, and the event has surpassed our expectation in terms of how large and well organized it is," said Li Yun, sales director of commercial aviation at Embraer China.

"We have developed in China for more than 20 years, and we are the first aircraft maker to cooperate with Chinese manufacturers in the world," Li said. He added that Embraer collaborated with the Aviation Industry Corp of China to establish a factory in Harbin, Heilongjiang province, in 2003.

"The Chinese industrial development is the most impressive globally, as it is expected to become the world's largest aviation market in the upcoming years," he said.

Currently, China is promoting green development, which puts a higher demand on energy saving and emission reduction in aircraft manufacturing, Li said.

"That means opportunities for us and a push for us to innovate in our technology and fuel," he said.

"We hope to use the event as an opportunity to show our latest products and to communicate with companies from China and other countries and to seek more cooperation."

In the wake of COVID-19, the fair has continued to utilize digital technology to facilitate more business cooperation online. This year the organizers said they have upgraded the online CIFIT and developed a WeChat mini-program which allows investors from across the world to hold business communications.

More than 30 business conferences and matchmaking sessions will be held at this year's fair, and nearly 1,000 projects will be unveiled.

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