Lanzhou fair inks $113.78b in investment contracts

The total of 1,435 contracts were inked at the 22nd Lanzhou Investment and Trade Fair held in Lanzhou, Gansu province from July 8-11, achieving a record investment of 760.8 billion yuan ($113.78 billion), according to official figures.

The Gansu Provincial Commercial Bureau said that this year's investment generated from the fair marked an increase of 9.1 percent year-on-year, and for the first time with more than 50 percent of the funds being invested in the service sector.

Foreign businessmen chat with consumers. [Photo/Xinhua]

Gansu’s cultural and tourism project was also an investment hot spot, with Gansu‘s Hexi Corridor tourism attracting a lot of interest. The Hexi Corridor refers to the historical route in Gansu province as part of the Northern Silk Road, which runs northwest from the banks of the Yellow River. It was the most important route from North China to the Tarim Basin and Central Asia for traders and the military in ancient times.

Foreign exhibitors introduce their products to the visitors. [Photo/Xinhua]

This year's fair was themed “jointly construct the Belt and Road Initiative region and promote the mutual benefit” with international investors focusing on cooperative opportunities with Gansu in capacity, big data, and cross-border e-commerce.

Thailand was the guest of honor at the fair this year and Gansu signed a series of cooperation agreements with the country.

To attract more funds, Gansu held activities for businesspeople that had been born or grew up in Gansu, to invest in the province.

Edited by Owen Fishwick