2019-08-05_Bloomberg_Businessweek-Europe_Edition

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Creating a Fair Field


It is summerin China,andXiamen,thefamed
coastalcityin southeastFujianProvincethat
historicallyplayeda keyrolein theChinese
exploringtradeopportunitiesabroad,hasits
dogdays’featuresonfulldisplay.It is hotand
humiddespitetheseabreeze,andlush,ripe
mangosdangletantalizinglyfrombenttree
branches.Thebikelanesaredeserted,except
fora streamof diehardafternoonrunners,
sinceXiamenis alsofamousforitsmarathons.
Anotherotherprominentfeatureis thebig
goldenkeyonHuandaoRoad,thesnakingring
roadthatencirclesXiamenIslandandprovides
dazzlingglimpsesof theseaandexquisite
scenicspots.Lookagain,andthekeyturnsout
to be an ingeniouscombinationof thefigures
9 and8. Proppedontwostonecolumns,
it is a giantversionof thelogoof theChina
InternationalFairforInvestmentandTrade
(CIFIT),anda reminderthattheannualevent—
whicheachyearstartsontheeighthdayof the
ninthmonth,Sept.8—isaroundthecorner.
Thekeyis emblematicof thefairopeningthe
doortoinvestorsaroundtheworld.
CIFITbeganin 1987asa localforeigninvest-
mentandtradefair.In 1997it becamea
nationalevent,andwastakenoverbythe
Ministryof ForeignTradeandEconomic
Cooperation,thepredecessorof theMinistry
of Commerce,andwasofficiallynamedCIFIT.
In thepastfiveyears,morethan100,
businesspeoplefromover 100 countrieshave
participatedinthefair.Withmorethan30 years
of history,CIFIThasbecomeanintegralpartof
China’sinvestmentlandscape.
“Asthelargestglobalinvestmentevent
recognizedbytheGlobalAssociationof the
ExhibitionIndustry,CIFITcanholditsown
withanyinternationalinvestmentfair,”Wang
Qiongwen,Directorof theXiamenMunicipal
Bureauof ConventionandExhibitionAffairs,
toldBeijingReview.

Goingglobal
Lastyear,PresidentXi Jinpingsenta letterto
theCIFITauthorities,acknowledgingthefair’s
contributiontoChina’sreformandopeningup,
andurgingit togoevenmoreglobal.
China’sopeningupwillonlybecomewider,
theletterstated.It expressedhopethatCIFIT,
focusingontwo-wayinvestmentpromotion,

“Globalinvestorswanttomakefulluse
of CIFIT,a sharedinvestmentpromotion
platform,toseekopportunitiestocooperate
withChinesecompaniesaswellasotherpar-
tiesandcountries,”Wangsaid.“CIFIThelps
countriesimproveandoptimizetheirbusiness
environment,includingsocialandeconomic
conditions,legislationandpreferentialpolicies,
sothattheycanattractmoreforeigncapital.”
Thisyearis especiallyimportantforCIFIT
becauseof thegrowinginterestamongglobal
investorsin theBeltandRoadInitiative.
Proposedby Chinain 2013,theoverlandSilk
RoadEconomicBeltandsea-based21st-
CenturyMaritimeSilkRoadinitiativeis building
andexpandingtheancientSilkRoadtrade
routesandconnectingAsiawithEurope,Africa
andbeyondwithimprovedinfrastructure,trade
linksandpeople-to-peopleexchanges.
AttheSecondBeltandRoadForumfor
InternationalCooperationin Beijingin April,Xi

wouldstarttocreatea moreinternational,
professionalandbrandedplatform,andplayan
activerolein pursuingopeninguponall fronts,
andbuildinganopenworldeconomy.
TheCIFITorganizingcommitteehasheld
roadshowsandotherpromotionsin 17coun-
triesin Africa,SouthAmerica,SoutheastAsia,
theMiddleEastandEuropein advanceof this
year’sfair.
“WearehappytoseeCIFITtransformedfroma
one-wayplatformtoattractforeigninvestment
toa bilateralinvestmentpromotionplatform,”
RafaelTorres,VicePresidentof thePeruvian-
ChineseChamberof Commerce,said.
“Thereis a hugeconsumptionmarketin
China,andCIFITprovidesparticipantswithan
opportunitytolearnthelocalinvestmenten-
vironment,policiesandprojectsin China,”He
Jun,Economic-CommercialCounselorat the
ChineseConsulateGeneralin SãoPaulo,Brazil,
said.

Xiamen’s signature annual trade and investment event gets new drive

By Zhang Shasha

(Compiled by Beijing Review; designed by Pamela Tobey)

2019 CIFIT at a Glance

Held at the Xiamen International Conference and Exhibition Center from
September 8 to 11, the trade and investment fair will highlight the following
initiatives:

Silk Road Maritime International Cooperation Forum: Discussing how to
construct the 21st-Century Maritime Silk Road to facilitate trade with port cities.

International Investment Forum 2019—The Belt and Road Investment
Congress: Discussing construction of investment platforms and promoting
negotiations on investment protection agreements involving government
authorities, industrial players and business associations.
Digital Silk Road: A display of Belt and Road participants’ achievements in
5G applications, network equipment and information safety, and promoting
cooperation in the communications industry.

Green Silk Road: This will showcase Belt and Road participants’ achievements
in green industries including green industrial park construction, green finance
and green industrial development.

Silk Road Trade Pavilion: This will showcase agricultural products, combining
them with cross-border e-commerce to boost trade.
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