CIFIT embraces multiple roles on global stage

The 23rd China International Fair for Investment and Trade (CIFIT) kicked off last Friday at the Xiamen International Conference and Exhibition Center. Its three central pillars are bilateral investment promotion, a focus on investment trends and the release of authoritative data.

This year's CIFIT theme was entitled Opening and Integration, Leading High-quality Development. The fair spotlighted global bilateral investment. The event included more than 50 forums and discussions. Attendees included representatives from over 160 foreign enterprises, including 50 of the Fortune 500 companies.

Since its inception in 2018, CIFIT has been a center for specialized activities such as forums, key releases and business negotiations.

Over the decades, CIFIT has included participants from more than 200 countries, attracted 300,000 international merchants and welcomed more than 450 of the Fortune 500 companies. Attendees have inked more than 30,000 agreements channeling over $340 billion into China.

XiamenAir representatives announced last week that the company will open a direct flight route between Beijing and Doha on October 20. It will also open a route between Xiamen and Doha on October 31. This year is the 35th anniversary of diplomatic ties between China and Qatar.

The National Development and Reform Commission recently issued an announcement regarding its support for the planning and construction of “Modern Circulation Strategic Pivot Cities.” Xiamen is one of 24 cities to earn official designation as a comprehensive circulation pivot city. The NDRC uses the term pivot city to designate key nodes in the national networks of transportation and services for the flow of essential goods and resources.

Local Construction Bureau officials recently announced that Xiamen is currently home to 146 parking lots publicly funded and built by the city. The lots collectively feature more than 43,000 parking spots.

City parking lots include 28 in Haicang, six in Huli, 32 in Jimei, 27 in Siming and 16 in Tongan. Local parking lots are frequently adjacent to state-built apartment complexes, public institutions, state-owned companies and schools.

Examples include parking lots for the Xiamen Singing and Dancing Theater, the Xiamen Botanical Garden, the Culture and Arts Center and a primary school adjacent to the convention and exhibition center.

The annual World Business Leaders Roundtable wrapped up last week at the Xiamen International Convention and Exhibition Center. The roundtable is a key parallel forum to CIFIT.

The Organizing Committee of the China Council for the Promotion of International Trade and CIFIT hosted the event. The World Trade Center Association (WTCA) served as co-host. The Fujian Provincial Council for the Promotion of International Trade and the Xiamen Municipal Council for the Promotion of International Trade undertook the roundtable.

The roundtable this year focused on the joint promotion of marine industries and new developments in the sector.

Roundtable participants included dignitaries, international organizations, industrial and commercial institutions and notable enterprises in the marine industry. Participants hailed from multiple countries associated with the Belt and Road Initiative.

Attendees of the 23rd China International Fair for Investment & Trade (CIFIT) hosted ceremonies for a total of 40 major new projects with a combined investment of RMB 71.4 billion yuan. These projects covered sectors such as modern industrial systems, infrastructure and key livelihood projects. The projects cover a range of industries, including new energy and electronic information.

Local officials announced last week that more than 4.5 million passengers transited Xiamen Airport during the summer travel season, up year-on-year by more than 94 percent. Leading travel categories include student tours and family visits.

Passenger flows during the summer average nearly 520 daily flights servicing the arrival and departure of more than 73,000 passengers per day. The most popular domestic destinations for passengers from Xiamen included Shanghai, Beijing, Chengdu, Xian and Chongqing.

Fiscal statements for the first half of the year for Xiamen's 65 listed enterprises indicate that operating revenue for the companies collectively topped one trillion yuan.  A total of 20 local companies achieved growth in both operating revenue and net margin. Financial analysts noted that demand for consumer electronics remained steady. Profit levels for new energy industry firms dropped due to the impact of price fluctuations for raw materials and elevated inventory.

This year's swim between Gulangyu and the island of Xiamen will splash into local waters on October 14 at 10:00 a.m. Swimmers will take to the ocean from Gulangyu's Haoyue beach. The one-kilometer swim ends at Xiamen Peace Wharf. Organizers expect that roughly 1,000 athletes will participate. 

Recently, Xiamen Port welcomed a trio of cargo ships operated by Maersk, MSC and the One Line cargo companies. The ships would collectively stretch for more than a kilometer if arrayed from end to end. The vessels loaded and unloaded more than 21,000 TEU of cargo at Songyu wharf.

Port officials described the triple transit as well-timed alongside the opening of the fifth Silk Road Maritime International Cooperation Forum in Xiamen.