The Chinese Ministry of Commerce unveiled 84 new key foreign investment projects at the 26th China International Fair for Investment and Trade, or CIFIT, which runs from Tuesday to Friday in Xiamen City of east China's Fujian Province.
Involving a total investment of 19.46 billion U.S. dollars, the new projects are mainly in the manufacturing sector, covering electromechanical equipment, chemicals and energy, automotive and healthcare.
The ministry said it will continue to closely monitor the progress of these projects, and provide targeted, full-cycle support to ensure their smooth implementation.
The paid-in foreign direct investment for key foreign investment projects totaled 109.3 billion U.S. dollars by far. A series of large-scale, technologically advanced projects with strong demonstration effects have been implemented, exemplifying the country's ongoing attractiveness to foreign investors.
Among the multinational corporations participating in the CIFIT, many have projects designated as key foreign investment initiatives.
"Two mega scale petrochemical projects will start this year in China. That's a tremendous progress. And one is being constructed, started construction. A lot of these activities are happening, solidifying our partnership as a trusted partner," said Mohammed Y. Al Qahtani, president of Downstream business of Saudi Aramco, Saudi Arabia's state-owned energy giant.
Qahtani added that Saudi Aramco's cumulative investment in China has exceeded 33 billion U.S. dollars over the past three decades.
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.
The four-day fair this year 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.
China unveils 84 key foreign investment projects at investment, trade fair
