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Li Zhiqun: globalization key to Fair for Investment and Trade development

By Hu Meidong and Liu Xintian (China Daily Fujian Bureau)
Updated: 2009-07-20 18:12

Globalization, specialization and marketization were just some of the key words heard during the second preparatory meeting of the 13th FIT in Nanchang, capital of Jiangxi province.

"To keep the long term vitality of the Fair for Investment and Trade (FIT), innovation and features are needed. We think globalization, specialization and marketization are the key for the development of the FIT," said Li Zhiqun, director of the Department of the Foreign Investment Administration, Ministry of Commerce, during the second preparatory meeting of the 13th FIT.

The preparatory meeting is being held in order to encourage all member units to take an active role in the FIT and collect valuable member opinions.

The FIT is more important than ever, as the outbreak of the financial crisis has directly influenced the investment willingness and ability of multinationals, according to Li. "Although some uncertain factors exist in China’s short term ability of absorbing foreign capital and realizing all-around economic growth, in the long term perspective, the trend of political stability and economic growth will not change. The acceleration of industrialization and urbanization will set free the potential of the domestic market," Li said.

More fields should be opened to the outside world and more attention should be paid to encourage foreign investment, Li stressed. "For several years, the FIT has developed from absorbing foreign direct investment (FDI) to a combination of bringing in and going out, promoting two-way investment."

Vice governor of Fujian province, Ye Shuangyu, noted the importance of promoting joint program achievements and improving the practical results of the FIT. "We should join our efforts to make full use of the abundant sources provided by the FIT," Ye said at the Fair.