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18th China International Fair for Investment and Trade opens

Updated: 08 Sep 2014
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The opening ceremony of the 18th CIFIT was held at 09:08am on Monday.
 
Chinese Vice Premier Wang Yang (centeral one with golden key) attended the opening ceremony.
 
The 18th China International Fair for Investment and Trade (CIFIT) held its opening ceremony on Monday. It is expected to draw 932 groups from 110 countries and regions, the event's organizer said.
 
By Saturday, 665 overseas groups, 267 domestic groups and nine international ones had applied to attend the four-day event that opened on Monday in the southeastern coastal city of Xiamen.
 
The event will set up “New Silk Road” exhibitions to bring attendants investment opportunities, important projects and products from countries along the “New Silk Road”. The New Silk Road is the name of China's recent strategy to seek mutual economic benefit together with its neighbors in the West to help the provinces in the inland west.
 
Also it is the 30th anniversary of the first China National Economic and Technical Development Zones. The Ministry of Commerce and CCTV will co-host the 2014 International Investment Forum to introduce the development of international economic zones.
 
The event will serve as platforms for policy information publication, bilateral investment promotion and investment trend discussion.
 
CIFIT, sponsored by the Ministry of Commerce, has been held annually in Xiamen since 1997.
 
The 18th China International Fair for Investment & Trade (CIFIT) and the 1st Amoy International Art Fair will be held at the same time in Xiamen from September 8th to 11th. Meanwhile, the online CIFIT platform will be officially launched as well.
 
Exhibitors from 78 countries and regions
It is reported that the fair will cover 100,000 square meters, offering 4,400 booths in seven exhibition areas for thematic investment and four industry promotion areas, as well as a new area for the art fair. Fifty-five institutions from overseas countries and regions will be attending the fair.
 
This year is the 40th anniversary of the establishment of diplomatic relations between Malaysia and China, and Malaysia is the “Guest Country of Honor” for the 18th CIFIT conference. A delegation of government members and firms from Malaysia, made up of over 500 people, will be attending the fair.
 
Russia will send a high-level delegation made up of members from 5 states, including Moscow and Leningrad, as well as its 2 union republics. Their exhibition area will cover approximately 400 square meters. An American delegation, with participants from nearly 400 firms, will be lead by the Assistant Secretary of State in attending the fair.
 
And as the “Guest Province of Honor” for the 18th CIFIT, Xinjiang will hold a series of promotions and cover an exhibition area of 1,500 square meters.
 
Release of Authoritative Investment Policies
It is said the fair will initiatively integrate the "One Belt and One Road" strategy, setting up an exhibition area for the new Silk Road and hold 3 activities with a Silk Road theme.
 
Over 30 high-end forums and symposiums such as the 2014 International Investment Forum, including Transnational Corporations Symposiums, an ‘Invest China’ Summit for Overseas Chinese, and the China Chamber of Commerce Chairman’s round-table conference.
 
Authoritative investment policies of ‘bringing in’ and ‘going out’ strategies will be released at that time.
123 projects with investment of US $7 billion
 
It is reported that, as of July 31st, there were 367 key projects proposed for investment. Of which, 123 projects are expected to be signed, attracting total investment of US $7 billion. Of the total potential investment, the foreign capital will be US $3.11 billion.
 
Online CIFIT
The online CIFTI platform will be officially launched after its yearlong pilot run. As a professional platform for investment and financing, a series activities and investment offers will be held with financing services worth 60 million yuan.
 
Hotel Room Rates during the 18th CIFIT
On July 23rd, the Xiamen municipal government set price limits for hotel rooms during the 18th China International Fair for Investment & Trade (CIFIT).
 
1. Star hotels
Maximum prices for a standard room at star-rated hotels are as follows
Five-star hotels: 880 yuan ($142) per night
Four-star hotels: 780 yuan ($126) per night
Three-star hotels: 650 yuan ($105) per night
Two-star hotels: 380 yuan ($61) per night
Note: The maximum price for a suite at three-star hotels or above should be no more than twice the maximum price of a standard room.
 
2. Other hotels
The maximum price for a standard room at other hotels is 800 yuan ($129) per night
Price complaint hotline: 12358
Quality complaint hotlines: 5318985; Toll-free (800) 858-2365
 
SOURCE: WOX & China Daily
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