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BIZCHINA / Biz Media Digest |
Investment: Fair reaps US$23b contracts(Xinhua)
Updated: 2007-09-12 14:27 The 11th China International Fair for Investment and Trade ended Tuesday with the signing of investment projects worth US$22.99 billion, including US$19 billion from overseas investors, organizers said. A total of 1,070 investment projects, were signed at the four-day fair, a national investment promotion event held annually since 1997 in Xiamen, Fujian Province. The fair attracted a record 13,000 businessmen from 119 countries or regions, 419 investment agencies, and 102 leading chain enterprises from overseas, according to the organizers. Chinese companies who planned to invest overseas also signed 63 intention agreements involving US$557 million with foreign institutions. Vice Premier Wu Yi at Friday's opening ceremony had called on multinationals to strengthen their cooperation on technological innovation with local partners. "The Chinese government will actively explore new ways for foreign and overseas investment so as to participate in the international economic cooperation on higher levels and in broader fields," she said. Wu announced the Chinese government would offer four billion yuan (US$530 million) for low-interest loans in the next three years to Chinese firms to encourage investment in Caribbean countries at the second China-Caribbean trade and economic cooperation forum during the fair. Since 1997, the fair had cumulatively attracted nearly US$70 billion of overseas investment to China prior to the fair just concluded.
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