The press conference was held by the CIFIT organizing committee on July 2 (COURTESY OF CIFIT)

Despite the grim world economic situation, preparations for the 13th China International Fair for Investment & Trade (CIFIT) have been progressing smoothly and visitors and exhibitors from different countries, regions and international economic organizations are more enthusiastic than the CIFIT Organizing Committee expected.

On July 2, the CIFIT Organizing Committee held a press conference attended by Chen Jian, Executive Vice Chairman of the CIFIT Organizing Committee and Vice Minister of Commerce; Ye Shuangyu, Vice Chairman of the CIFIT Organizing Committee and Vice Governor of Fujian; and Liu Cigui, Vice Chairman of the CIFIT Organizing Committee and Mayor of Xiamen. They discussed the situation, new features and progress of preparations for the upcoming CIFIT.

A preferred destination for FDI

Vice Minister of Commerce Chen Jian said global foreign direct investment (FDI) has fallen significantly as a result of the international financial crisis. Although China has been the world's largest recipient of FDI for 17 years in a row, China's FDI has fallen for eight consecutive months, the first time since the 1997 Asian financial crisis. But China's share of global FDI has stayed the same, meaning China remains a preferred destination for FDI.

The 13th CIFIT is expected to focus on its role as an international investment promotion platform as well as on international economic and trade cooperation. As a highlight of the upcoming CIFIT, "International Investment Forum 2009" will invite Chinese leaders, foreign dignitaries, economists and business representatives to give speeches on the role of FDI in global economic recovery.

New features

Ye Shuangyu, Vice Governor of Fujian, introduced the new features and progress of preparations for the upcoming CIFIT. He said the fair would have the following major features:

1. Richer content

Focused on its two major themes of Attracting FDI and Going Global, this CIFIT will vigorously promote investment in previously overlooked fields, including resource development, energy conservation and environmental protection, service industries, property development, tourism, agriculture, development zones and cultural creative industries. New halls will also be set up, such as the China International Property Investment and Trading Hall, the China International Cultural Industries Hall and the Agricultural Investment Projects Area.

2. More international focus

By far, there are 58 countries and regions are expected to sign up for exhibition at CIFIT, including the United States, France, Italy and Mexico, and this number is expected to rise to 80. More than 250 organizations from more than 60 countries will send delegations to CIFIT, while the United States, France, Italy, Britain, Australia, the Netherlands and Brazil will host a "pavilion day" during CIFIT. "Although the CIFIT Organizing Committee has enlarged the exhibition halls, there are new countries and regions signing up for exhibition, or requirements asking for larger booths," Ye said. "This CIFIT will surely be greater than past ones."

During CIFIT, a series of multilateral and bilateral forums and seminars will be held, including the Latin American and Caribbean countries Trade and Investment Project Fair 2009, the Investment Promotion Seminar for Overseas Chinese Merchants, the International Roundtable of Goodwill Chambers of Commerce and the High-End European Trade Commission Forum.

3. More conspicuous Taiwan-oriented features

Based on the new situation of cross-Strait economic exchange and cooperation, the 13th CIFIT will, for the first time, host a "Taiwan Pavilion Day" and set up the Taiwan Investment Projects Exhibition Area, Taiwan Commodities Exhibition Area, Taiwan Premium Products Exhibition Area and investment project and trade matchmaking symposia for Taiwan businesses. At the same time, government institutions will hold the first Forum on the Economic Zone on the Western Coast of the Taiwan Straits, and the Cross-Strait Banking Summit, Forum on Cross-Strait Economic and Trade Cooperation, and the fifth Cross-Strait Tourism Forum, and other events to promote cross-Strait exchanges and cooperation.

4. Stronger investment promotion functions

In line with the national industrial direction and in light of hot socioeconomic topics, the 13th CIFIT will organize 11 dedicated matchmaking symposia, including investment funds, listed companies, service outsourcing, property development and cultural creative industries, and hold more than 40 high-end forums for discussion and information release. For the first time, CIFIT will set up the Promotion and Exhibition Area for Products from Foreign Countries/Regions and expand the Equipment Manufacturing Industry, Energy Conservation, Environmental Protection and New Building Materials Exhibition Area to promote trade cooperation.

Better logistical support

Xiamen Mayor Liu Cigui said the city has formed a special committee with 13 groups to coordinate logistical support for the upcoming CIFIT. At present, the groups are working on the details of security, medical care, guest reception, transportation and communication. For the first time, Xiamen will provide exhibitors with free wireless access and free public transportation IC cards.