China unveils 84 key foreign investment projects at investment, trade fair

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

The European Parliament will hold a debate next Tuesday on the migration crisis in Spanish enclave of Ceuta, amid divisions among major political groups over how to respond to the situation, the Parliament noted on Wednesday.

Some parties in the European Parliament, such as the European People's Party, are pushing for a vote following the debate, with a resolution expected to include calls for stricter migration policies and criticism of the Spanish government's handling of the crisis.

Meanwhile, the Progressive Alliance of Socialists and Democrats in Europe is expected to defend the Spanish government and call for greater solidarity among EU member states in addressing migration pressures.

The European Commission on Wednesday decided to provide Spain with 114.7 million euros in emergency assistance to help manage the situation in Ceuta, following the large-scale illegal border crossings on July 30-31.

The European Union held a video-conference in August upon a 22-country initiative led by Italy and Denmark for a coordinated European response to the migrant crisis.

Italy temporarily suspend the Schengen free-movement regime for maritime and air links with Spain and reintroduce border checks on Aug. 1, and announced on Aug. 31 to extend border controls on arrivals from Spain for a further 15 days.

Ceuta President Juan Jesus Vivas told an extraordinary meeting of the European Parliament's Committee on Civil Liberties, Justice and Home Affairs in August that about 80,000 people entered Ceuta, nearly 75,000 of whom subsequently returned voluntarily.

Between 3,000 and 5,000 migrants remain in the enclave, leaving reception centers overwhelmed and creating a severe humanitarian emergency, he said, calling for stronger security, more reception resources and greater support from EU agencies.

European Parliament to debate Ceuta migration crisis