China's foreign investment success involves countries inside and outside the Belt and Road Initiative. Next month, an international fair will focus on how to improve inbound and outbound investment.
To better promote China's two-way investment, the 20th China International Fair for Investment and Trade (CIFIT) will kick off in the city of Xiamen from September 8 to 11. It will create a platform to promote international investment and discuss global trends in this field.
As the world's second largest economy, China relies heavily on foreign investment and trade. Wang Shouwen, Chinese Vice Minister of Commerce, on Wednesday discussed?China's improving foreign capital?at a press conference on the international fair.?
In the first seven months of 2018, China welcomed 35,000 newly established foreign-invested companies, with year-on-year growth of 99.1 percent. And the foreign capital in actual use was 76 billion US dollars, up 5.5 percent from a year earlier. Specifically, the manufacturing industry accounted for 30.4 percent of the actually utilized foreign capital, and the high-tech industry took 21.5 percent.
In the first half of the year, Chinese investors have conducted non-financial direct investment on 3,617 overseas companies in 151 countries and regions with a? total investment of 57.18 billion US dollars, up 18.7 percent year-on-year. Meanwhile, the cooperation and investment with countries along the Belt and Road route made steady headway.
"China has taken more active measures to expand its opening-up policy. President Xi Jinping has announced that China will strengthen protection of intellectual property rights, and lower limitations of foreign investment. Foreign-invested companies are more confident about investing in China," said Wang Shouwen.
CIFIT will also release authoritative reports and policies at the fair, including statistics on China's inbound and outbound investment. United Nations officials will discuss global investment.
"We will highlight new achievements in trade, maritime cooperation, and cultural exchanges. We will create a dedicated area for those relevant countries. We will also promote a patch of programs for those nations, and promote their cooperation in trade and technology," said Zheng Xincong, the vice governor of Fujian Province.
More than 120,000 guests and participants are expected?at this years forum. More than 800 groups from over 110 countries and regions will take part in the event. About 5,000 companies will also send representatives.
