International investors have been flocking to Xiamen in east China's Fujian Province for the 26th China International Fair for Investment and Trade (CIFIT), hoping to use the event to sound out new business opportunities, deepen cooperation and tap into China's prowess in the technology sector.
The four-day fair, which opened on Tuesday, has brought together over 1,200 government agencies and business delegations from 129 countries and regions, including 48 of the world's top 50 economies by GDP.
The event has drawn not only a number of first-time visitors, but also investors who frequently travel between China and the rest of the world, some bringing capital, others technology and cooperation proposals.
Those who have traveled far to get here say they are looking forward to deepening business exchanges and cooperation.
"From my hometown (to get) here [it takes] 24 hours. We have this very excellent and important congress. I want to improve the relations between Germany and Europe and China," said Walter Doring, chairman of the Academy of German Hidden Champions.
"I am chatting to city [officials] and also to have customer meetings. [We hope to learn] what is happening in the paper products industry here," said Ismo Nousiainen, chief executive of Metsa Fibre, a leading global producer of wood-based bioproducts based in Finland.
The concept of "China Opportunity 2.0" is gaining traction at this year's fair and refers to the opportunities arising from China's more open, inclusive and tech-powered economic interaction with the rest of the world.
Joey Chui Yung Wat, chief executive of Yum China, one of the largest restaurant companies in Chinese mainland, hopes the initiative can fuel her company's continued expansion.
"We will continue our store expansion and penetration into lower-tier markets. By the end of this year we will definitely reach 20,000 stores. Every year we invest 700 million U.S. dollars in store openings," she said.
For Hazem Ben-Gacem, founder and chief executive of BlueFive Capital, a global alternative investment firm and asset manager headquartered in Abu Dhabi, technology is the biggest draw to enter the China market.
"Technology is clearly one of the current megatrends. We have now invested 1.2 billion U.S. dollars. We have announced two weeks or three weeks ago, we have made our most recent investment which is an investment in probably the most exciting video AI," he said.
Global investors seek out new business opportunities at Xiamen fair
The 26th China International Fair for Investment and Trade (CIFIT) opened in the coastal city of Xiamen in east China's Fujian Province on Tuesday, drawing international exhibitors and delegations to connect global investors with key Chinese markets.
The four-day fair has brought together over 1,200 government agencies and business delegations from 129 countries and regions, which includes 48 of the world's top 50 economies by GDP, while 30 international organizations are also participating.
This year's event marks the biggest ever edition of the long-running trade fair, with the total exhibition space expanding to some 200,000 square meters. It also features 14 specialized exhibition zones, showcasing investment opportunities in various promising sectors including China's "new quality productive forces", an economic strategy which stresses high-tech innovation as a new growth driver, as well as the "Silk Road Maritime" initiative, which looks to resurrect ancient sea trading routes.
Addressing the opening ceremony, Zhou Zuyi, secretary of the Fujian Provincial Committee of the Communist Party of China, said Fujian will step up efforts to establish new mechanisms for a more open economy.
"We will keep expanding institutional opening-up and actively aligning with high-standard global trade rules. We're seizing the opportunity from the pilot program to expand services trade. We're also upgrading our free trade zones, focusing on tech innovation, green development, and digital economy. All to build a more open economy, faster," Zhou said.
This year's edition has also introduced a "dual guest countries of honor" mechanism for the first time, with Finland and Saudi Arabia jointly assuming the role. Two Chinese guest provinces have also been named, with the southern Guangdong and the northwestern Qinghai Province given the honor. The fair is structured around three core thematic sections, namely "Invest in China," "China's Outbound Investment," and "International Investment," and will also see more than 40 key investment promotion events, along with nearly 100 supporting activities being held.
Speaking at the opening ceremony, Pedro Manuel Moreno, the Acting Secretary General of the United Nations Conference on Trade and Development (UNCTAD), emphasized that increasing investment in key strategic fields is essential, saying the trade fair offers a valuable platform for exchanges.
"Strategic sectors, like AI, semiconductors, critical minerals, or clean energy now account for almost half of the value of all new investment projects. This is why I believe gatherings like CIFIT matter more than ever, because the central challenge today is no longer only to mobilize more capital. It is to connect capital to the right projects, in the right places," he said.
First launched in 1997, the CIFIT, organized by the Chinese Ministry of Commerce, has become an important platform for boosting investment and facilitating global development.
Global investors, business leaders gather in Xiamen for int'l investment, trade fair
