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Xi congratulates opening of the 20th CIFIT

(chinadaily.com.cn) Updated:2018-09-08

President Xi Jinping has sent a congratulatory letter to the 20th  China International Fair for Investment and Trade in Xiamen, which has  grown into an influential global investment event that contributes to  the national reform and opening-up.

For more than 20 years, the fair has been committed to creating  platforms for promoting two-way investment, publishing official  information, and discussing investment trends, Xi said in the letter.

Noting that this year is the 40th anniversary of the reform and  opening-up, Xi said that China will only become increasingly open.

Xi said that he hopes the fair, on the theme of promoting two-way   investment, can meticulously be made into an international, professional  and branded event that becomes an important platform for a new round of  high-level opening-up, and that will play a role in creating a new   pattern of opening-up on all fronts and building an open world economy.

From the beginning of the reform and opening-up in 1978 through July  this year, China gained nearly $2.1 trillion in foreign direct  investment. Foreign-funded businesses have contributed 10 percent of  urban employment in China and 20 percent of fiscal revenue, as well as  half of the country's import and export volume, according to the  Ministry of Commerce.

Wang Shouwen, vice-minister of commerce, said China will further  reduce the threshold for foreign investment, and continue to optimize  the investment environment and protect the legitimate rights and  interests of foreign-funded companies.

However, Wang said as unilateralism and trade protectionism are  showing signs of rising, China's foreign trade and investment ability  are under serious threat. The country will continue to resolutely  support globalization and free trade.

"At the same time, we will work on the development of the Belt and  Road Initiative, firmly support Chinese companies to expand their global   presence and seek suitable projects to invest in," he said.

Harley Seyedin, president of the American Chamber of Commerce in  South China, said the reason China has remained popular among global  investors is its growth potential in the global market.

"China's investment market remains large and continues to grow. Its  consumer market is constantly expanding at a rapid pace," said Seyedin.

According to the Ministry of Commerce, 35,239 new foreign enterprises  were set up across China from January through July, a year-on-year  increase of 99.1 percent.

The internet, artificial intelligence, finance, culture, education,   medical care, and tourism have become the focuses at the fair for   multinationals to further tap into the China market.

Xinhua contributed to this story.



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