The China International Fair for Investment and Trade, held every year in Xiamen, Fujian province, celebrates its 20th anniversary this year. Opening on Sept 8, the four-day event is expected to see a significant number of agreements signed.
This expectation is based on the thorough preparation for this year's event, as well as its huge development over the past two decades.
The size of this year's fair hits a record high, with a total area of 138,000 square meters and 6,000 exhibition booths.
The fair has expanded from being a small regional event to a large national event with the participation of 31 Chinese provinces, autonomous regions and municipalities, during the 20 years since it was launched in 1997.
As one of the leading high-profile investment fairs in China, CIFIT has been recognized as the biggest global event for investment and trade by UFI, the Global Association of the Exhibition Industry.
Global investors and businesspeople will be joined by a long list of influential international organizations such as the World Association of Investment Promotion Agencies, the United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization, the World Trade Organization and the International Finance Corporation.
UNCTAD Secretary-General Mukhisa Kituyi, commented that CIFIT has opened the door for promoting sustainable prosperity and development through investment. More and more business leaders now attend the event to discuss key issues in global trade and investment, and to discuss new business opportunities.
During the past 20 years, a total of 300,000 businesspeople and visitors from more than 200 countries and regions have come to CIFIT, as well as 3,200 multinational companies, including more than 450 Fortune 500 companies.
The fair also has seen a surge in contractual foreign investment, which has increased from $6.2 billion in the first year to $35.2 billion last year.
The event serves as a match-making platform for Chinese and foreign investors, which is its primary purpose. Nearly 20,000 match-making activities for thousands of investment institutions and companies from over 100 countries and regions take place, and agreements worth hundreds of billions of dollars are signed every year.
All these achievements make CIFIT an engine for cross-border trade and investment.
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