As the platform expands, its influence continues to grow

The China International Fair for Investment and Trade has become a major platform, boosting crossborder investment and trade amid the new global economic climate.

During the 20 years since it was launched in 1997, more than 30,000 trade agreements have been signed during the fairs, introducing more than $250 billion into China.

"CIFIT has now become a major part of China's global economic strategy," said Kandeh K. Yumkella, former director-general of the United Nations Industrial Development Organization, a key sponsor of CIFIT.

As one of the leading high-profile investment promotion fairs in China, CIFIT has been recognized as the biggest worldwide event for investment and trade by UFI, the Global Association of the Exhibition Industry.

CIFIT was first held in September 1997 in Xiamen, a harbor city in Fujian province in East China. Its predecessor is the Fujian International Fair for Investment and Trade.

In the past 20 years, it has played a vital role in attracting more foreign investment. And it keeps on growing.

Statistics show that, at first, there were 36 delegations participating in the fair, but by 2015 the figure reached 56, with international delegations presenting during the most recent fairs.

Themed as "Bringing In and Going Out", the fair backs China's economic policy in promoting investment and trade both at a national and international level.

In 1997, there were 6,200 overseas traders and visitors from 52 countries and regions participating in the fair. But after six years, the number of participants has been more than 10,000 every year.

During the last 20 years, a total of 300,000 traders and visitors from 150 countries and regions have come to CIFIT, as well as more than 450 Fortune 500 companies and 3,200 multinational companies.

The exhibition area has also expanded from the first year's 28,000 square meters to 138,000 square meters in 2015.

Leveraging the opportunity brought by the fair, Chinese enterprises from more than 200 central cities have ventured onto the global stage.

Former British prime minister Gordon Brown once expressed his pleasure that the UK had established long-term cooperation with the fair.

"Britain held a series of promotional activities via the platform, and we look forward to more bilateral investment between China and UK," Brown added.

Meanwhile, CIFIT also created an information-releasing platform for policy, laws, investment environment, as well as international capital flow and projects.

It will provide a package of information supporting decision-making for investment and trade.

More than 80 professional seminars have been held annually at CIFIT since the International Investment Forum was initiated in 2000.

It is recognized as one of the most authoritative strategic forums on foreign investment.

China's national leaders, foreign political figures, directors from international economic organizations, economists and prestigious persons speak at the forum.

A large number of Chinese enterprises have attracted more overseas funds amid the publicity of China's new economic policy and popular investment spots during CIFIT.

Pascal Lamy, former director-general of the World Trade Organization, once said: "I have known CIFIT for a long time. It shows China's image after reform and opening-up, and also delivers China's desire to cooperate with the world at a harmonious developing pace."

"CIFIT is conducive to the opening-up and development of different economic systems around the world. That's why so many international economic organizations come."

As CIFIT is enhancing its international influence, it draws thousands of media organizations from China and abroad. International cooperation and foreign funds also bring opportunities for regional development in China during the past 20 glorious years.

Last year, based on the theme of the Belt and Road Initiative, CIFIT held activities such as a New Silk Road Development Seminar and Maritime Silk Road Entrepreneurs Summit and Project Exchanging Conference.

The activities built up a platform for cooperation among the countries and regions along the Silk Road.

Xiamen and Taiwan are located across from each other on either side the Straits, and the fair's influence also expanded to the island.

According to statistics from the organizing committee of the event, 85 business organizations and 4,280 entrepreneurs from Taiwan participated in the 18th CIFIT held last year.

"China has made great achievements in the past 10 years. Especially in recent years, more and more overseas traders came to the fair, making the platform more beneficial to global traders," said Supachai Panitchpakdi, former secretary-general of the UN Conference on Trade and Development.

"The platform is efficient and successful. As a sponsor of CIFIT, the UN Conference on Trade and Development will continue to support this grand international event, and support the overall development of the Chinese economy."

Besides investment and trade promotion, CIFIT has also inspired the exhibition industry in China. Other investment fairs and exhibitions held in China have learned from the fair's success.

CIFIT has created a new international investment pattern, driving a boom in the exhibition industry.

Li You contributed to the story.

(China Daily 09/08/2016 page7)