China's top legislator Wu Bangguo raises a symbolic golden key at the opening ceremony of the 15th China International Fair for Investment and Trade in Xiamen, Fujian province, on Sept 7, 2011. [Photo/China Daily]

630 overseas delegations participate in platform for promotion of trade

China's premier investment fair opened on Sept 7, with the country's top legislator Wu Bangguo raising a symbolic golden key to open the exhibition hall in Xiamen, East China's Fujian province.

The annual China International Fair for Investment and Trade (CIFIT), sponsored by the Ministry of Commerce, has become one of China's most influential platforms for the promotion of trade and investment.

"The impact of the global financial crisis continues and some new and uncertain factors are affecting the world economic revival," said Chen Deming, minister of commerce in his opening speech.

"Effective methods such as strengthening international cooperation and encouraging outbound investment should be taken to help the world economy maintain quicker and more sustainable and balanced development."

Chen said he hoped the fair would help investors from both home and abroad seek new business opportunities and deepen cooperation.

The fair includes investment and trade exhibitions, investment project matchmaking symposiums, and seminars and forums.

The five-day event has drawn 630 overseas delegations from more than 100 countries and regions as well as hundreds of senior foreign government officials, heads of international organizations and overseas business associations and senior managers from multinational companies.

Rita Santos, deputy head of the secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries, said her organization has been advocating that countries such as Brazil, Angola and East Timor participate in CIFIT to help them attract Chinese investment.

"Some enterprises from China have already invested in fields such as road construction, leather and wood processing in Portuguese-speaking countries with the help of the investment platform provided by the fair," she said.

"We are expecting more investment from China."

Liu Desheng, general manager with a Beijing-based mining firm, said his company has invested in mine exploration projects in Zimbabwe and he wanted to invite other domestic firms to jointly run the business in the African country.

"We funded trips by some visitors from Zimbabwe to CIFIT and I hope we can use the fair as a platform to introduce local investment policies and projects in Africa to help them attract more investment," said Liu.

Hanta Hairi, general manager with Qinghai-based Holy Camel Arts and Crafts Company, said its products are exhibited at the Qinghai pavilion, the guest province of honor at this year's fair.

He said products from his company debuted at the opening ceremony of the Beijing Olympic Games in 2008 and he hoped more craft goods could be exported to other countries through being promoted at the trade fair.

"I hope we can make use of the fair to promote our special products from Chinese ethnic groups to a wider market," he said.

During CIFIT's previous 14 years, more than 14,300 investment cooperation projects worth about $100 billion were signed.