Opening-up prioritized as global traders tune in to CIFIT

Attendees from 90 countries and regions leverage online and offline models during four-day event

Exhibitors from home and abroad give a thumbs-up for the 22nd China International Fair for Investment and Trade. LIN YUYANG/FOR CHINA DAILY

More than 480 projects with a total investment of 342 billion yuan ($49.3 billion) reached cooperation agreements during the 22nd China International Fair for Investment and Trade, which concluded in Xiamen, Fujian province, on Sunday.

Focused on increasing levels of opening-up, the fair was attended by around 60,000 guests, 4,000 enterprises and more than 800 industrial and commercial trade groups from 90 countries and regions via both its online and offline formats.

The four-day CIFIT presented worldwide participants with a grand investment promotion event. During the fair, organizers held 41 major conferences and forums such as the International Investment Forum 2022 and the Gulangyu Forum.

Standing as a platform to bolster the bilateral investment, release authoritative information and explore the latest investment hot spots and trends, CIFIT constantly delivered China's voice for investment promotion during its session.

Some highlight reports unveiled at the scene included China's Foreign Investment Guidelines (2022), Report on Foreign Investment in China 2022 and a report on the countries of the sustainable investment in BRICS members－Brazil, Russia, India, China and South Africa.

The 120,000-square-meter exhibition was divided into 13 exhibition areas, attracting participation of international bodies such as the United Nations Industrial Development Organization, embassies and consulates, as well as business associations and investment promotion agencies from 64 countries and regions.

Titled "Global Development: Sharing Digital Opportunities, Investing in a Green Future", this year's CIFIT served global development and promoted sustainable investment cooperation, organizers said.

Addressing the opening ceremony, a high-level official said that China is accelerating the construction of a new development pattern and is willing to share development opportunities with other countries, promote sustainable investment cooperation and continue to promote global economic growth.

Alfredo Borrero, Ecuador's vice-president, said notable achievements made by China in the fields of the digital economy and green development pattern has promoted confidence in economic growth in the post-pandemic era.

The Gulangyu Forum, the first international high-end forum named after Gulangyu Island, was held on Thursday and attended by nearly 100 guests from at home and abroad.

Gianpaolo Bruno, director of Beijing Office and chief coordinator of China and Mongolia Offices of the Italian Trade Agency, said at the forum that since the establishment of diplomatic ties between China and Italy in 1970, the two countries have made great achievements in inter-governmental relations, economic cooperation and cultural exchanges.

Centering on the coordinated regional economic development and multilateral economic and trade exchanges, CIFIT held diverse activities under the frameworks of the Belt and Road Initiative and the Regional Comprehensive Economic Partnership. Activities included the RCEP International Cooperation Forum, the BRICS Sustainable Investment Forum, BRICS New Industrial Revolution Partnership series activities and the 2022 Silk Road Maritime International Cooperation Forum.

With China's efforts to implement the national strategy for rural vitalization, the fair held a brand-new rural vitalization industry exhibition.

To promote the effect of social capital on rural vitalization around the four core elements of projects, capital, talent and achievements, the exhibition offered a high-quality and authoritative rural vitalization investment platform.

Focusing on the digital economy, green economy, the goals of carbon peak emissions and eventually carbon neutrality, the fair launched a series of signature sections such as the 2022 Go Global Green Development section.

The fair also carried out cooperation in development and the industrial chain of multinational companies by setting up a 26,000-sq-m area to facilitate project matchmaking and roadshow activities.

Following the development of cutting-edge digital technologies, organizers introduced a series of online display activities, including a metaverse technology-based online exhibition, augmented reality shows and naked eye 3D performances.

Tino Zeiske, president of Metro China, shared his expertise at the fair that though the COVID-19 pandemic has weakened people's connection in the physical world, it at the same time has accelerated the development of digital tools. Facing such a trend, retailers should make efforts to provide customers with a better digital solution.

The online platforms integrating the fair's official website and smartphone app had released information about more than 26,000 investment projects and held 88 events online through Sunday. The online platforms had tallied 13.5 million views.