| Special Supplement: CIFIT to draw foreign captial |
| Tuesday,September 04,2007 Posted: 16:34 BJT(0834 GMT) China Daily |
Actively attracting foreign investment is an essential part of China's fundamental national policy of reform and opening up, said Chen Jian, assistant to the minister of commerce, at the Beijing press conference for the 11th China International Fair for Investment and Trade (CIFIT). Since the adoption of the reform and opening-up policy 28 years ago, China has turned in an impressive performance in attracting foreign investment. During the first four months of this year, utilized foreign capital in China totaled $20.36 billion, up 10.17 percent year-on-year. Also, more than 190 countries and regions have invested in China and over 450 Fortune 500 companies have launched operations here. "At the same time, the Chinese government has vigorously promoted the growth of foreign trade and economic cooperation and proactively steered and encouraged enterprises to 'go global', achieving significant results," Chen noted. According to official figures, cumulative outward foreign direct investment by Chinese enterprises during the 11th Five-Year Plan period (2006-10) is expected to exceed $60 billion. The CITIF, a nationwide international investment promotion event, is attended by provinces, autonomous regions, municipalities, national agencies, national chambers of commerce and trade associations. In the past decade, the CIFIT has played a key role in the implementation of China's macro development strategies and the promotion of cross-border investment. "With persistent efforts, CIFIT has developed into a large-scale international two-way investment promotion event attracting foreign investment to China and steering Chinese enterprises to launch overseas investments," he said. "As an international two-way investment promotion platform commanding extensive influence in the world and delivering strong practical results, CIFIT has attracted the attention and involvement of government agencies and business communities from more and more countries and regions," Chen commented. Over the past 10 years, the CIFIT has drawn nearly 100,000 business people from 144 countries and regions and has witnessed the signing of more than 13,000 project contracts. |
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