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September 8, 2009

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Boost seen for outbound investments

CHINA expects to boost outbound investments at an international fair which is set to open in Xiamen, Fujian Province, today.

"Chinese entrepreneurs have shown great enthusiasm in 'going out' and the fair will enable domestic investment to link up with potential projects abroad," the Ministry of Commerce said yesterday in a notice on its Website to promote the 13th China International Fair for Investment and Trade, which will run through Friday.

Organized by the ministry, the fair is China's only international investment promotion event aimed at facilitating bilateral investment.

The fair is expected to increase outbound investment in areas such as new energy technology, mergers and acquisitions involving global firms, service outsourcing, commercial property and innovation industries.

Overseas investments by Chinese companies reached US$52.1 billion last year, nearly double that of 2007. The ministry forecast the amount could grow to US$150 billion this year, according to earlier media reports.

The year has been challenging amid the global financial downturn and the fair could be a good indicator to gauge the outlook of the global economic climate, the ministry said.

Compared with previous fairs, this year's CIFIT is the largest in terms of scale with 2,800 booths covering 60,000 square meters - 8,000 square meters bigger than the one last year.

The fair is also set to break other records as by last Saturday, about 492 companies and organizations from 83 countries have registered their participation in the fair and more than 13,000 overseas visitors are expected - a record high in the history of the CIFIT.

China is expected to conduct investment and trade talks with Japan, Germany, Norway, Sweden and Cuba during the fair, which will also feature 23 forums on investment financing, risk control, service outsourcing and green manufacturing.


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