CIFIT forum to focus on transnational investment

Ministry of Commerce is sponsoring 12 discussions on hot topics at the fair

A forum on global investment flows on Thursday, after the recently concluded G20 Summit, is expected to ignite a new wave of brainstorming on the future of the global economic recovery and investment.

China's richest man, chairman of Wanda Group Wang Jianlin, will share his insights on building an open economic system with new ideas for development with global investment officials and gurus at the 2016 International Investment Forum.

According to the 2016 Billionaires List released by Rupert Hoogewerf on Feb 25, Wang is ranked at number one, with assets of up to 170 billion yuan ($33.2 billion).

The forum is key among many activities during the 19th China International Fair for Investment and Trade held in Xianmen, East China's Fujian province, from Sept 8-11. The fair is a key international event aimed at promoting two-way investment with China, according to Li Yong, deputy head, investment promotion affair bureau, Ministry of Commerce.

"This time, the fair and forum will focus on the new trend of global economic development and the new trend of transnational investment," said Li. "We are striving to build platforms for two-way investment, policy release and discussion at a professional, international and marketable level."

The four-day fair is expected to welcome about 50,000 merchants from more than 100 countries and regions, according to the Xiamen Bureau of Convention and Exhibition Affairs.

Officials, businessmen and economists will gather to discuss hot issues such as China's Belt and Road Initiative and Internet Plus strategy, as well as global mergers and acquisitions, and e-commerce.

Minister of Commerce Gao Hucheng, Director-General of the United Nations Industrial Development Organization Li Yong, Vice-President of All-China Federation of Industry and Commerce Lin Yifu, foreign officials, CEOs of multinational companies and economic experts will all attend the fair.

This year, CIFIT aims to build connections between fields, such as investment-oriented activities and 10 key industries, including new industries, financial services and biological medicine.

Authoritative investment information will be released, such as the Chinese version of the World's Investment Report from the United Nations Conference on Trade and Development, China's Foreign Investment Development Report 2016 from the Ministry of Commerce, and the 2016 Global M&A Report from the China Association of Private Equity.

The event will also give a boost to South-South Cooperation. At the Advanced Forum on Investment in Africa, high-ranking politicians from Zimbabwe, Senegal and Ethiopia will be invited. Promotional events for developing countries such as India, Afghanistan and Namibia will also be held.

A total of 12 forums will be organized by the sponsoring Ministry of Commerce, concerning Sino-American enterprises' investment and cooperation, cross-Straits economic and trade cooperation, and the development of finance leases in China.

The 19th CIFIT will occupy an area of up to 138,000 square meters with 6,000 exhibition booths, the largest such fair since that of 1997.

Three zones are separated by function: inbound and outbound investment, industrial enterprise establishment and merchandise trade.

A foreign exhibition area covering 20,000 square meters will feature representation from more than 50 countries and regions including Russia, Australia, Japan and Brazil.

As the country of honor, Italy's exhibition booth will span 800 square meters, in which the Sino-Italian Trade Forum and other investment-oriented seminars will be held. Participants may also have a chance to taste Italian red wine.

Macao and East China's Jiangxi province are this year's region of honor and province of honor, respectively. A group of 1,000 volunteers received training for the service of CIFIT, including diplomatic etiquette, English speaking and executive teamwork.

The fair is also known as the 98 Fair for Investment and Trade, since it has opened on Sept 8 annually since 1997.

The logo of the fair is a golden key composed of the Arabic numerals of eight and nine, the design of which expresses the fair's hope to open the door to success.

Chen Meiling contributed to the story.

zhuanti@chinadaily.com.cn

(China Daily 09/08/2016 page7)