The 12th Cross-Straits Fair for Economy and Trade (CFET) and the 7th China Fujian Commodities Fair opened Tuesday.

Senior government officials and guests from the mainland, Taiwan and foreign countries attended the opening ceremony, including Wang Hanbin, former vice-chairman of the National People's Congress Standing Committee, Fujian province governor Huang Xiaojing, and Taiwan's New Party Chairman Yok Mu-ming.

Also present at the opening ceremony were participants from the 3rd International Conference for Fujian Business People, which opened on Monday in Fuzhou, attracting more than 1,500 Fujian business people from 50 countries around the world.

The newly built Fuzhou Straits International Convention Center, has an exhibition area of 80,000 square meters, and 10 exhibition pavilions, such as the Central Pavilion, Taiwan Pavilion, Equipment manufacturing Pavilion, Asian Fashion Pavilion and Automobile Pavilion.

Expectations

According to the fair's organizing committee, Fuzhou is expected to sign 179 projects with foreign companies at this year's fair, receiving a foreign investment of $2.344 billion, $538 million more than in 2009.

The city hopes to sign 258 projects with domestic companies, attracting an investment of 56.496 billion yuan. It also hopes to sign 55 projects with Taiwan companies, catching an investment of $843 million, a jump of 245 percent over 2009.

The signing of the projects, especially the dramatic growth in Taiwan-related projects, is a result of the city's thorough implementation of the State Council's guidelines on accelerating the development of the Western Taiwan Straits Economic Zone, which was released in May 2009.

Culture

Realizing that cultural and creative industries represent a city's "soft power," the Fuzhou municipal government has spared no efforts in promoting the city's cultural and historical heritage in the past years.

Some of the city's major cultural and creative products, such as San Fang Qi Xiang (ancient residential buildings and alleys), the City of Springs and the City of Lacquerware, have brought business opportunities.

The CFET is sponsored by the Taiwan Affairs Office of the State Council, China Council for the Promotion of International Trade, the General Administration of Customs, the General Administration of Quality Supervision, Inspection and Quarantine and Fujian provincial government. It also receives support from the Ministry of Commerce.

For more information, please visit: www.chinadaily.com.cn/m/fuzhou

(China Daily 05/20/2010 page5)